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And a UK Mastercard used abroad (in the EU) attracts (nearly) 3% commission on purchases.
by vixen99 8y ago
And a UK Mastercard used abroad (in the EU) attracts (nearly) 3% commission on purchases.
- nimish 8y agoThat's a foreign transaction fee. Good cards will not do this. The actual interchange fee in the EU is closer to 0.3%.
- noja 8y agoHow is the interchange fee different from the merchant fee? Can I take cards for 0.3%?
- nimish 8y agoThe interchange fee is what's paid between banks. Your payment processor (Stripe, Paypal, Square, WorldPay etc) essentially act as middlemen who occasionally provide extra value. Depending on your volume and their product offering you could get interchange + pricing.
- leonagano 8y agoRevolut/Monzo/Starling don’t charge it
- Symbiote 8y agoAlso Halifax, Metro Bank, Nationwide if you prefer an older bank.
- rahimnathwani 8y agoMetro Bank did a bait-and-switch. They attracted initial customers with the 'no foreign transaction fee' pitch and later started charging them 2.75%: https://www.metrobankonline.co.uk/bank-accounts/i-want-some-information-about/using-my-card-abroad/ https://www.metrobankonline.co.uk/bank-accounts/i-want-some-...