CAUTIONARY TALE RE OVERSEAS PAYMENT FEES

[KAB]

Just a word of warning for those outside the USA. Order cancellation is costly! It has nothing to do with TB but all to do with Barclaycard and probably other Credit Card companies.

UK buyers pay a significant transaction fee to Barclaycard for payments to overseas such as TB but they also pay a similar transaction fee for refunds. Ouch!

Sadly I had to cancel a Pre-Order (my fault not TB's) - so not only a disappointment in that respect but also a hefty loss of nearly £20. Ouch again!

So, although order changes / cancellations cannot always be avoided do be aware of the other costs incurred.

Of course it won't deter me from future purchases (so hard to resist!), but I will have to take great care.

[bchaplin]

Wow! In the U.S. we have the option of credit cards that have no fee for foreign transactions. Chase offers a few of these, for instance. Is that something you can get in a UK-based card?

[theedge]

Hi Kab,
I learned that the hard way when I made my first order !
Now I use my Revolut card whenever I make purchases outside of Europe, because it has zero transaction fees.

[b1gsky]

Mine has transaction fees too, but it’s very little money so it’s negligible in my eyes. But it’s definitely something you should be aware of, also while travelling.

[KAB]

Thanks for the info.
All the cards I have charge for foreign transactions but I will investigate further.

[theedge]

Mine has transaction fees too, but it’s very little money so it’s negligible in my eyes.

How much are the fees in Germany ?
Here in France cards issued by brick-and-mortar banks have foreign transaction fees ranging between 1.95% and 3.1%
On a 500$ order that's 9.75$ to 15.5$

[Go Navy]

These are basically barriers to free trade. Exchange rate cost recovery is one thing. But some of these fees are egregious.

[b1gsky]

How much are the fees in Germany ?
Here in France cards issued by brick-and-mortar banks have foreign transaction fees ranging between 1.95% and 3.1%
On a 500$ order that's 9.75$ to 15.5$

It depends on the bank. I know that a few offer cards which don’t have any fees, but I prefer to stick with my old bank and pay the fees the few times it’s necessary. Mine has a fee of 1,5% and I rarely buy anything that’s worth more than 150$. The most expensive order I ever had was for my RB36 which was 225$ with shipping.

[BigBadD]

How much are the fees in Germany ?
Here in France cards issued by brick-and-mortar banks have foreign transaction fees ranging between 1.95% and 3.1%
On a 500$ order that's 9.75$ to 15.5$

Perhaps I am fortunate, I have foreign transaction fees reimbursed on my French bank Mastercard. Provided that I remember to select payment in foreign currency when some websites (not Tom Bihn) try to impose their own even worse conversion rate and payment in Euros.

[youronur]

If you live in the UK there are a few start ups which offer no foreign currency transaction fees and very good exchange rates. Revolut as mentioned and also Monzo I have used and can recommend both.


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[LordAnubis]

Ouch! That should not be possible. Here in Aus credit cards charge international transaction fees but when a refund is processed the transaction fee is also refunded.


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[lawrenceporter]

+1 for Revolut in Europe. I now use it for all my overseas purchases.