Bri and Katee

When offered the choice of being charged in Sterling or Euro on your credit card, which is it best to go for?

I recall some time ago being told to have it charged in the currency in which it was issued ie sterling, but I can't remember why. Just how much of a difference would it make?

amideislas

If you request in sterling, the bank that owns the machine performs the exchange rate calculation.

If you ask for Euros, your card-issuing bank calculates it.

Best to check your bank's exchange rate policies. UK banks tend to be a bit more dear, although there are certain machines here that are not operated by banks who can give you a truly lousy rate of exchange.

marcbernard

Whilst it will depend on which credit card and which bank, my experience tells me that if you are buying items and you are offered the choice, it is better to take the local currency. Some traders forget to give you the option, and if so, they are breaking the credit card rules. Argue with them and insist, or refuse the purchase.

Fredbargate

As advised always choose the local currency otherwise there appears to be a double exchange i.e. £ back to €s back to £s

Also Norwich and Peterborough do not charge for foreign exchange transactions.

johnnyone

That's best although I use a Halifax Clarity or Nationwide credit card.
You can still get caught out though. I hired a car from Firefly and whilst the payment I signed for was in euros, when the statement arrived I had been charged in Sterling.
Another ploy by a car rental company to increase their margin.