Quote:
Originally Posted by Tandum
I've noticed today that stuff I buy offshore with Paypal is attracting an International Transaction Fee even though the transaction is in AU$.
All these examples where purchased in AU$ :-
I see one Paypal for $45.72 followed by a $1.05 fee. This was for a server security certificate from a US firm.
I got another straight Visa buy for $879.12 followed by a $20.22 fee which I believed was paid to Symantec Australia.
Then in contrast I see a Paypal to Tan in Honkers with no fee applied?
I rang the bank and they just brushed me off saying they were International transactions, including the one to Symantec.
After a bit of googling it appears Bankwest Credit Cards don't do this so I might swap.
Does anyone know what's going on here, is this a new thing?
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I have a NAB account that didn't include international transaction fees until recently. They introduced them to push people to their new travel currency card which is presumably more profitable for the bank. It's certainly not more convenient for the customer. I'm planning to apply for a card elsewhere that doesn't include these fees and they'll lose the business.
Quote:
Originally Posted by Larryp
Fees for international transactions are by no means new-I have been paying them for at least 25 years. Cost of currency conversion and so on.
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They're not new but it's not a matter of covering the cost of currency conversion. They're already taking a spread on the exchange rate that covers that and then some...