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If I go to Transferwise to buy foreign currency, I'm charged the same additional fee whether I fund my transfer from a debit or a credit card. This doesn't see
by logifail 8y ago
If I go to Transferwise to buy foreign currency, I'm charged the same additional fee whether I fund my transfer from a debit or a credit card.
This doesn't seem right as it must be more expensive for them to process a credit card payment.
- cbzoiav 8y ago0.2% interchange on debit cards vs 0.3% on credit card. Within the EU they can't legally charge a card fee but can choose to say not accept credit cards or to charge a top up fee to all payment methods.
- logifail 8y agoTransferwise do charge a card fee, here's what their UI has just offered me at the final confirmation screen: "Choose your transfer type Bank transfer Low cost transfer - 2.54 GBP in total fees Send the money from your bank account. Debit card/Credit card Fast and easy transfer - 3.54 GBP in total fees" That's a surcharge for paying by card vs a bank transfer.