Does this conversion rate seem a little high?

Tobes

Tobes

Tobes

Soldato
Joined
27 Mar 2004
Posts
6,698
Location
Devon
So I purchase a phone online in the US with my credit card. Total was 687.78 USD. It says this in the name area on my statement online. Only the price I have been charged is £494.53.

I'm not really clued up on currency rates and how banks covert it etc but before purchasing I just did a quick google and I was getting rates at about £465.

I know there is nothing I can do now and I should have probably of phoned my bank before hand. Any idea on what the currency rate was to be charged that? I know it's probably basic maths but I am lacking in that area.

Bank is Natwest btw.
 
Its quite low (~1.39) i imagine it includes all of natwest's charges?
best to give them a call. normally on a credit card the rate is quite near to the spot market, but then the banks charge you (on my card i think its 1%)
 
£466.00 is about the right value for a direct exchange rate but using your credit or debit card will incur extra. There's no such thing as a free meal as they say!

You're lucky it's not £1 to $1.

Andi.
 
the rate was as much as $.04 lower last week when it could have been as low as 1.4 on a card in reality, add the fees on and you will come up with a figure around what you got
 
People need to learn that market rates (e.g. 1GBP to USD in Google, Yahoo, Xe etc) are NOT (rarely) what we can buy/sell at. Your bank and their bank will set rates, plus there are fees etc.
 
Ahhh OK. I still have to pay customs tax etc yet which I know is about £60 so that's it's all adding up lol.

Ahhh well. Thanks people.
 
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