Exchange rates: Amazon and Nationwide

[mtbc]

I closed my checking account with Nationwide^* when they stopped accepting foreign-currency check deposits but I still have a UK credit card open with them. Of my credit cards, that Nationwide card has the lowest credit limit so I use it for online purchases.

In ordering from Amazon US I have the choice of charging the card in USD or GBP. I noted what Amazon offered for their conversion and now find what I was actually charged for Nationwide's conversion. For an order of $71.44 Amazon offered 1 USD = 0.7792382758 GBP to charge me £55.67. Instead I charged the amount in USD to Nationwide who used U.S. DOLLA at 1.33010612 costing me only £53.71. Nationwide's conversion wins.

^*Nationwide is a large British building society unrelated to the American insurance company of the same name even though they are both mutually owned and have both claimed to be on my side.

Comments

[emperor]

Some of the UK consumer sites keep track of the forex charges for different cards; last time I checked, the Nationwide card was one of the better ones. I generally think people offering to do the conversion for you are going to be taking a non-trivial cut.

[damerell]

I believe there's an increasing tendency to not offer but just to do it silently. :-/