Visa v Mastercard

[cleo]

Hi I am sure that there will be someone out there who can help me.

 

I have both a Visa (Nationwide) and Mastercard (Halifax Clarity Card) and wondered which card would give me the best rate when used abroad. I spoke to the chappie at Halifax and he said that both Visa and Mastercard give a commercial rate is this true? :D (lol)

 

Thanks for your time *-)

[Guest JudgeMental]

Nat west Mastercard certainly dont! have had many arguments with them and they say "they charge what they want" so only carry for emergencys.

 

Nationwide is fine, or at least it was last time I travelled which was September

[BGD]

You need to define what "a commercial rate" means.

 

When big Companies are trading very large amounts of currency in order to buy/sell products/services, or indeed simply to hedge against future currency movements, they are regularly exchanging tens of millions of pounds per trade, very few days.

Now they DO have the economic muscle to get a "commercial rate". Trader margins offered by them to win/keep that amount of business, on that sort of volume, are infinitesimally small.

 

 

That is so not the same rate that Joe Bloggs will be getting when he uses his card in Paris to buy 50 quids worth of diesel.

 

In reality I cannot imagine any individual being offered anything like the rates that Companies can secure.

But frankly, the difference on a trade of a couple of hundred quid is still probably measured in pence......not a massive difference.

 

 

[Guest JudgeMental]

rate at the moment 1.179 (XE Com)

 

Now I know one think....If I use a nationwide card abroad, I will near enough get that rate, or near the prevailing rate at the time?

[Guest pelmetman]

Went to the post office today 1.11 :D

[Guest JudgeMental]

pelmetman - 2010-11-23 7:46 PM

 

Went to the post office today 1.11 :D

 

You dont have to go anywhere? most rates can be checked online

[Guest pelmetman]

JudgeMental - 2010-11-23 9:29 PM

 

pelmetman - 2010-11-23 7:46 PM

 

Went to the post office today 1.11 :D

 

You dont have to go anywhere? most rates can be checked online

 

We were there anyway, and they said the rate has been going up B-)

[cleo]

BGD - 2010-11-23 6:23 PM

 

You need to define what "a commercial rate" means

 

Thanks for taking the time to reply. I was just going by what people have said on the forum that some cards get a better rate when their cards are used abroad and they referred to those cards getting 'comercial rate'. Perhaps it means that you get a rate better then the tourist rate.

8-)

[cleo]

:-> thanks guys. I will just have to see what happens when i use them abroad. Got some euros at weekend most places 1.13 i got 1.15 so pleased with that guess the rate will soar now. :D :->

[Tony Jones]

It's not really a matter of "Visa v Master," they're just networks or channels. What really matters is the bank which issues the card - a Visa card issued by "Trotters Bank" will usually be on exactly the same terms as a Mastercard issued by "Trotters," but different from one issued by another bank.

 

I've got a Nat West "dual" account, with a Visa and a Master on the same account (and the same rates, terms and conditions), but I've also got a CapitalOne Mastercard, a Post Office Mastercard, and a Nationwide Visa, all different.

[Guest JudgeMental]

whatever..... All I know is the NATWEST MASTERCARD is my only card that pays near tourist rate when the others pay near enoiugh commercial rate

 

and when challenged said we charge any rate we feel like! *-)

[Randonneur]

Just thought I would check the rate from Euros to Pounds on our Nationwide Credit card, did a transaction on Wednesday and the rate is 1,1796, I thought that was very good.