Wednesday, October 31, 2012

Choice of Currency in Stores : another opinion

I would like to comment on the item in today’s issue about Mercadona supermarket .
I have used the facility many times and it will quote a rate set by the bank not the store, the receipt clearly indicates that the service and exchange rate is provided by La Caixa.  

Furthermore the statement that you will get another charge for the transaction is simply not true. The amount you are quoted in GBP includes all charges and fees and that is exactly what appears on the visa statement..
It will provide you with a quote and then give you the option to proceed in GBP or Euros. 

From my use of the system I believe they do not update rates in real time and therefore you can get a better deal if Sterling is sliding against the Euro.
 Initially I was sceptical about this facility but I have made Euro transactions in other stores within one hour and used these for comparison.
(Editor . examples of transactions were included in the email but not included here for reasons of space)
 All the items quoted are inclusive of charges so that the comparison is fair.

 For once I consider that Mercadona is offering a fair deal providing of course you first identify how the currency rates are moving. Although the variances are small every little helps.
Hope that my comments help and if in doubt try it out.
Kind Regards, Kenneth

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