“I paid for a 1,800 euro hotel stay in Lisbon on my debit card and chose ‘pay in pounds’ at the terminal because it seemed safer. My statement shows 1,611 pounds. My friend paid the same rate in euros and was charged 1,548. Did I do something wrong?”
Yes, but it is the terminal’s fault more than yours. Choosing to pay in pounds abroad hands the exchange rate to the merchant’s bank, which typically adds 3 to 6 per cent. Paying in the local currency lets your own card set the rate. That reader lost 63 pounds on one transaction. Over a fortnight’s holiday the habit costs several hundred.
The Travel Money Desk answers questions like that. Each article starts with a real reader’s question, stated in their words, anonymised but with the specifics kept: the sum, the country, the card, the dates. The direct answer comes in the first paragraph, then the caveats, then what to do.
The site covers cards and cash abroad, the fee-free cards and how they really compare, dynamic currency conversion, ATM charges, travel insurance policies and the claims that get refused, EHIC and GHIC cover, airline and package compensation, and what happens to your money when a holiday company fails.
The Travel Money Desk is edited by Megan Doyle, a frequent traveller who has spent years helping people through travel insurance claims. It is an independent UK publication and does not sell insurance or currency, and does not give personal financial advice.