credit card/euro or gb pounds

[smiffffffy]

ok, so i have just got back from hols and having used my credit card i have a question.

a few retailers and restaurants put my card in the chip and pin reader and then asked do i want to pay in gb pounds or in euros ???
what is the best for me or does it all depend on the exchange rates on the day of purchase as opposed to the exchange rate on the day the payment gets to my cardholder.

Which is cheapest for me i suppose is the short question?

[LyndaB]

If they put the transaction through in pounds sterling, it works out a bit cheaper for you (that's what they told us in the airport shop anyway)

[ubasses]

Always best to pay in local currency, you then get the Bank rate of the day when he transaction is debited to your account. Many of these shops and restaurants use a very unfavourable exchange rate if you allow them to convert it and pay in sterling.

[boxtops]

I always go for the Euro option, hoping that the exchange rate will be in my favour when it comes through to my account.

[zebo]

Always the local currency, let your bank give you a far better rate. You should always be offered the option, legally, if they insist on the local currency, stop the transaction.

[FredPuli43]

I have the same thing in Switzerland. There the machines (and airport shops) give the option of euros or Swiss francs. The advice is always to opt for Swiss francs, though it's tempting for outsiders, like me, to use their euro visa card because they are familiar with euros, but it's a mistake because you can guarantee that the rate is loaded against them

[Prudie]

In Europe we always opt for Euros. Our bank gives a better exchange rate than the local shops. I think the airport shop was telling you porkies Lynda.

[boxtops]

It's the same when you draw cash from an ATM abroad - we always opt for the transaction to be charged in local currency.

[smiffffffy]

Have just come back from holiday and have my credit card statement in from lloyds bank avios American Express card.
Every single transaction has a "non sterling transaction fee" against it of almost 3 per cent of each transaction .
Now I fully understand it was my choice to take out this card and it was probably in the small print.

The question is how do I overcome these extra payments?
Is it possible to get a card that doesn't have these extra charges?
I am always offered a per paid MasterCard when buying my holiday cash I take, but like the not carrying money option, would I overcome these charges using this option or do they still take some non sterling charges off of the the credit balance I put on it before I left the uk.

Many thanks in advance