Saturday, May 28, 2011

BNP

I just read conditions and tarifs of payment and withdrawal of both my bank. And now, i realise why my exchange rate i got in Iceland was so low, 1 euros to 154 ISK, while in xe.com, the exchange rate is higher, 1 euros to 165 ISK, that means that, each time i pay 1 euros, i lose 10 ISK, if i pay 1000 euros, i lose 10000 ISK= 60 euros!

WHY? according to conditions and tarifs by bank BNP Paribas: inside EURO Zone, each withdrawal or payment by visa classic, it's free of charge. And outside EURO Zone, each withdrawal will be charged by 2,9% of commission plus 3 euros. And each payment by visa, you'll be charged 2,9% of commission plus 0,8 euros each time. And i thought that payment by visa is free-of-charge, that's why i used my card alot in iceland, and that's why i got such low exchange rate because i got charged 0,80 euros each time! im such a idiot! So, basically, you're advised to take your money from ATM rather than paying by card.

And i used my card in Iceland at leastmore than 10 times, about 20 plus plus, that means i got charged extra for 16 euros only for the commission of the bank.

i hope i dont give any wrong information to you!

3 comments:

WP said...

Don't worry, you're not the only one, I also found out about the bank charges after using my card for ATM withdrawal in a non-euro zone. So the best way is to withdraw just once from the ATM, or use money changers :)

Gareth said...

yeah, its true! =)) thats what im gonna do next time!

Enig Hui said...

now i understand why my friend said they been charged extra for using card. I'm using Mastercard, so no problem!