That is their rate. They now will add another 1.75% when the transaction is settled in 24 to 48 hours. Just watch out for that.Guys,
I paid through PayPal using my MBNA credit card this morning the sum of £931.99 GBP
If you check google
its 1338.2437 Euros or XE
931.99 GBP = 1,335.44 EUR
United Kingdom Pounds Euro
1 GBP = 1.43289 EUR 1 EUR = 0.697891 GBP
So how the hell can MBNA take the total as: 1,374!!!!
Before I ring them, any idea why?
How does that work? With my PTSB VISA once I see transactions on my account (online) then that's it and they don't change subsequently - at least that's my experience to date.That is their rate. They now will add another 1.75% when the transaction is settled in 24 to 48 hours. Just watch out for that.
Come back here when the transaction has been finalised and tell you what you were charged. I bet it will be more than 1374.
It might not be MBNA in this scenario making the money from your transaction.
If you made the payment in Paypal in £ with your linked € card than Paypal determines the currency exchange rate, i.e. they charge your € card in € not £.
Look into your paypal account, you should see 2 lines for the same transaction, one is the £ payment to who ever you made it and one is the € payment from your card.
They should read something like: Currency Conversion (debit) and Currency Conversion (credit).
If however Paypal charged your card in £ than MBNA will charge you the amount converted to Visa (or Mastercards) daily exchange rate plus the conversion fee that is applicable for your card (look in your T&C's).
Using XE to determine the exchange rate for your credit card is a bad idea, because the rates they do (while nice if you use them for money transfers) are flexible throughout the day as the market demand is. The Visa rate is fixed at some point during the business day and than used (plus the 1% markup of Visa in Europe if I remember right).
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?