chippengael
Registered User
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- 153
I have a mastercard with the NIB. I pay 100% of my bills each month to avoid paying interest. On my last bill I was surprised to see an interest charge of about €10. I called my branch and the lady told me this was probably due to transaction charges for using my mastercard to withdraw money from the bank machine in London three times (total = £300, say €450) but she wasn't sure.
She put me on to the credit card centre. The guy there told me that I was charged interest on the amount withdrawn from the day it the withdrawl took place. Sure enough the interest dates are printed on the bill. But if I withdrew €450, and there were NO transaction fees, then why was I charged €10 in interest? My monthly interest rate is 1.1%, so even if I owed a whole month of interest on €450 (which I didn't), the resulting interest should be about €4.95. The guy couldn't explain the discrepancy, and said he would talk to some other person about this. The same guy caled back later that dat to say he'd call the following Monday with the information instead. You guessed it - he didn't call.
So, having spent about an hour on the phone it looks like I'll have to do it again tomorrow, which is rubbish as I am snowed under at work.
Has anyone else experienced dubiously large interest charges on these kind of transactions? Am I being overly suspicious? God knows a bank would NEVER overcharge their customers...! I know it's only a few euro, but it's the principle of the thing.
If I don't a sensible answer out of them, where is my next port of call? (apart from AAM!)
She put me on to the credit card centre. The guy there told me that I was charged interest on the amount withdrawn from the day it the withdrawl took place. Sure enough the interest dates are printed on the bill. But if I withdrew €450, and there were NO transaction fees, then why was I charged €10 in interest? My monthly interest rate is 1.1%, so even if I owed a whole month of interest on €450 (which I didn't), the resulting interest should be about €4.95. The guy couldn't explain the discrepancy, and said he would talk to some other person about this. The same guy caled back later that dat to say he'd call the following Monday with the information instead. You guessed it - he didn't call.
So, having spent about an hour on the phone it looks like I'll have to do it again tomorrow, which is rubbish as I am snowed under at work.
Has anyone else experienced dubiously large interest charges on these kind of transactions? Am I being overly suspicious? God knows a bank would NEVER overcharge their customers...! I know it's only a few euro, but it's the principle of the thing.
If I don't a sensible answer out of them, where is my next port of call? (apart from AAM!)