Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 09.08.2021, 14:05
Island Monkey's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Wallis
Posts: 6,893
Groaned at 124 Times in 88 Posts
Thanked 7,810 Times in 3,542 Posts
Island Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond repute
Credit Card - surcharge abroad

I’ve been caught out with a few recent online purchases.

I have ordered from places such as bikester.ch, campz.ch etc. I know these guys are not based in Switzerland, but their prices are in chf and therefore I’ve put them on my UBS credit card. Then my statement has shown an added “surcharge abroad”.

Are they putting the payment through in Euros? Or because they are based outside Switzerland is there a surcharge even though I paid in chf? Bloody annoying!

I wonder how this would work with my Wise card? If I pay in chf but they put it through in Euro?
Reply With Quote
  #2  
Old 09.08.2021, 14:09
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,376
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Credit Card - surcharge abroad

Quote:
View Post
I’ve been caught out with a few recent online purchases.

I have ordered from places such as bikester.ch, campz.ch etc. I know these guys are not based in Switzerland, but their prices are in chf and therefore I’ve put them on my UBS credit card. Then my statement has shown an added “surcharge abroad”.

Are they putting the payment through in Euros? Or because they are based outside Switzerland is there a surcharge even though I paid in chf? Bloody annoying!

I wonder how this would work with my Wise card? If I pay in chf but they put it through in Euro?
I use Revolut & Wise when making purchases in CH, paying with either Euro or £ & never get charged. Always select payment in CHF if thats the currency at check out or local currency in stores. Never let the shop/Bank do the conversion
Reply With Quote
The following 2 users would like to thank fatmanfilms for this useful post:
  #3  
Old 09.08.2021, 14:13
otec's Avatar
Forum Veteran
 
Join Date: Jun 2021
Location: Lugano
Posts: 644
Groaned at 249 Times in 110 Posts
Thanked 491 Times in 244 Posts
otec is considered unworthyotec is considered unworthyotec is considered unworthyotec is considered unworthy
Re: Credit Card - surcharge abroad

Quote:
View Post
I use Revolut & Wise when making purchases in CH, paying with either Euro or £ & never get charged. Always select payment in CHF if thats the currency at check out or local currency in stores. Never let the shop/Bank do the conversion
Same. I guess you have to sign up for a plan if you make regular purchases, as Revolut has caps on FX conversion.
Reply With Quote
  #4  
Old 09.08.2021, 14:15
Island Monkey's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Wallis
Posts: 6,893
Groaned at 124 Times in 88 Posts
Thanked 7,810 Times in 3,542 Posts
Island Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond repute
Re: Credit Card - surcharge abroad

Quote:
View Post
Always select payment in CHF if thats the currency at check out or local currency in stores. Never let the shop/Bank do the conversion
That’s the thing though. Prices were always CHF, checkout price still in CHF, but still got charged for foreign transaction on UBS credit card.
Reply With Quote
This user would like to thank Island Monkey for this useful post:
  #5  
Old 09.08.2021, 14:22
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,376
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Credit Card - surcharge abroad

Quote:
View Post
That’s the thing though. Prices were always CHF, checkout price still in CHF, but still got charged for foreign transaction on UBS credit card.
You get that with Easyjet too unless you switch to GBP & pay with GBP.
Just bought some plane tickets from Air Malta priced in CHF & paid with Revolut no extra fees.
Reply With Quote
  #6  
Old 09.08.2021, 14:30
Island Monkey's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Wallis
Posts: 6,893
Groaned at 124 Times in 88 Posts
Thanked 7,810 Times in 3,542 Posts
Island Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond repute
Re: Credit Card - surcharge abroad

I stopped using Revolut, because when I had money on my account in GBP, they still charged me for making payments in GBP because I live in CH. Wise don’t do this - someone gives me GBP and then I spend in GBP, no charge from Wise.
Reply With Quote
The following 2 users would like to thank Island Monkey for this useful post:
  #7  
Old 09.08.2021, 14:56
Forum Veteran
 
Join Date: Nov 2011
Location: Mies
Posts: 1,076
Groaned at 16 Times in 12 Posts
Thanked 802 Times in 454 Posts
catandmouse has an excellent reputationcatandmouse has an excellent reputationcatandmouse has an excellent reputationcatandmouse has an excellent reputation
Re: Credit Card - surcharge abroad

Most credit card companies will make you pay the foreign surcharge on all purchases made outside Switzerland, independently of the currency in which they are billed.
Reply With Quote
This user would like to thank catandmouse for this useful post:
  #8  
Old 09.08.2021, 15:44
Member
 
Join Date: Aug 2015
Location: Zürich
Posts: 187
Groaned at 16 Times in 13 Posts
Thanked 168 Times in 86 Posts
erchegyia has made some interesting contributions
Re: Credit Card - surcharge abroad

Quote:
View Post
That’s the thing though. Prices were always CHF, checkout price still in CHF, but still got charged for foreign transaction on UBS credit card.
I asked UBS about this in the past. They stated the surcharge is based on the currency but on the merchant being located abroad. You have no way of knowing in advance
Reply With Quote
The following 4 users would like to thank erchegyia for this useful post:
  #9  
Old 09.08.2021, 16:19
Senior Member
 
Join Date: Apr 2015
Location: Port-Valais (was SFO)
Posts: 449
Groaned at 5 Times in 3 Posts
Thanked 327 Times in 182 Posts
Caryl has a reputation beyond reputeCaryl has a reputation beyond reputeCaryl has a reputation beyond reputeCaryl has a reputation beyond repute
Re: Credit Card - surcharge abroad

Quote:
View Post
I asked UBS about this in the past. They stated the surcharge is based on the currency but on the merchant being located abroad. You have no way of knowing in advance
Some but not all US cards impose a surcharge, usually 2.9% on foreign currency charges. Many U.S. debit cards impose a 1% surcharge on foreign usage: I was charged the fee on a withdrawal in USD vat a U.S. military base in Europe.

I use my Chase Sapphire Reserve card (USD) for virtually all charges everywhere as most of my income is in USD. There is no surcharge and there are generous points (treble for travel and restaurants; The Points Guy values them at 1.5¢ to 2.24¢ each https://thepointsguy.com/guide/more-...ewards-points/), but one can't control the exchange rate that VISA applies. Once when I returned a hire car at GVA airport Europcar charged me 1,000 frs for alleged damage. As CSR provides free primary collision cover I didn't argue. While in the Swiss airport lounge Europcar rang me to say they'd checked their film record and indeed the damage was there when I hired the car (but not recorded on their computer) and they reversed the charge, 30 minutes later -- Sunday night in the USA. There was a $7 difference in the credit. I complained to Chase that if their insurance had paid my cost would have been zero and they credited me the $7. But the incident suggests, indeed proves, that VISA doesn't give you the same rate for credits and charges.
Reply With Quote
  #10  
Old 09.08.2021, 16:36
Senior Member
 
Join Date: Feb 2018
Location: Zürich
Posts: 325
Groaned at 6 Times in 6 Posts
Thanked 325 Times in 166 Posts
rezak has earned the respect of manyrezak has earned the respect of manyrezak has earned the respect of many
Re: Credit Card - surcharge abroad

From UBS Classic Credit Card information sheet:

Currency conversions for transactions in foreign currencies: UBS foreign exchange sell rate or card organization rate plus 1.75% processing surcharge

CHF transactions abroad: 1.75% processing surcharge
Reply With Quote
  #11  
Old 09.08.2021, 23:27
Forum Legend
 
Join Date: Oct 2014
Location: SG
Posts: 10,319
Groaned at 603 Times in 437 Posts
Thanked 13,920 Times in 7,261 Posts
Urs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond repute
Re: Credit Card - surcharge abroad

Quote:
View Post
I asked UBS about this in the past. They stated the surcharge is based on the currency but on the merchant being located abroad. You have no way of knowing in advance
I tend to disagree with that.

Check their location mentioned in their imprint/Impressum, and the location of legal dispute according to the T&C, that should be a reliable indication. Not 100% reliable of course, but unless both are in CH you probably should assume foreign, or enquire to be sure.

Oh btw, bikester.ch and campz.ch have the same address in Germany, ain't it funny what a small world they live in.
That said, according to each Impressum they're subsidiaries of internetstores.com.
Reply With Quote
  #12  
Old 09.08.2021, 23:36
Forum Veteran
 
Join Date: Apr 2007
Location: Zurich
Posts: 1,714
Groaned at 9 Times in 7 Posts
Thanked 1,237 Times in 680 Posts
axman has a reputation beyond reputeaxman has a reputation beyond reputeaxman has a reputation beyond reputeaxman has a reputation beyond repute
Re: Credit Card - surcharge abroad

Quote:
View Post
That said, according to each Impressum they're subsidiaries of internetstores.com.
Correct, and you can buy from them via galaxus and get the Galaxus T&C.
Reply With Quote
  #13  
Old 10.08.2021, 07:53
Forum Veteran
 
Join Date: Jun 2020
Location: Zurich
Posts: 509
Groaned at 6 Times in 5 Posts
Thanked 511 Times in 252 Posts
Spaceghost has an excellent reputationSpaceghost has an excellent reputationSpaceghost has an excellent reputationSpaceghost has an excellent reputation
Re: Credit Card - surcharge abroad

Quote:
View Post
I use Revolut & Wise when making purchases in CH, paying with either Euro or £ & never get charged. Always select payment in CHF if thats the currency at check out or local currency in stores. Never let the shop/Bank do the conversion
Exactly that if you check the Revolut rate you're getting say in Paypal vs the one they use they have about a 6% margin on the rate for the exchange its a ripoff.
Reply With Quote
  #14  
Old 10.08.2021, 08:04
otec's Avatar
Forum Veteran
 
Join Date: Jun 2021
Location: Lugano
Posts: 644
Groaned at 249 Times in 110 Posts
Thanked 491 Times in 244 Posts
otec is considered unworthyotec is considered unworthyotec is considered unworthyotec is considered unworthy
Re: Credit Card - surcharge abroad

Quote:
View Post
Exactly that if you check the Revolut rate you're getting say in Paypal vs the one they use they have about a 6% margin on the rate for the exchange its a ripoff.
That's how banks and paypal make money, that's why they are dinosaurs and must die.
Reply With Quote
  #15  
Old 10.08.2021, 12:28
Forum Veteran
 
Join Date: Apr 2007
Location: Zurich
Posts: 1,714
Groaned at 9 Times in 7 Posts
Thanked 1,237 Times in 680 Posts
axman has a reputation beyond reputeaxman has a reputation beyond reputeaxman has a reputation beyond reputeaxman has a reputation beyond repute
Re: Credit Card - surcharge abroad

Just clarifying what I said earlier. I pay for these purchases with Paypal in CHF (as that is that is the currency on the vendor's website), paypal shows the exact amount in CHF, and my credit card bill shows the exact amount in CHF. So I think for these kind of purchases, paypal works.

What is interesting about Campz and Bikester is that when you have to return items, you return them to a St. Gallen address.
Reply With Quote
  #16  
Old 10.08.2021, 12:41
Forum Veteran
 
Join Date: Nov 2011
Location: Zurich
Posts: 1,166
Groaned at 30 Times in 26 Posts
Thanked 537 Times in 357 Posts
minimimi has earned the respect of manyminimimi has earned the respect of manyminimimi has earned the respect of many
Re: Credit Card - surcharge abroad

If it is a big enogh purchase for you to care enough to do extra work you may also choose "vorkasse".

I had a similar problem and did not have any additional charges with "vorkasse".
Reply With Quote
  #17  
Old 09.08.2021, 14:15
otec's Avatar
Forum Veteran
 
Join Date: Jun 2021
Location: Lugano
Posts: 644
Groaned at 249 Times in 110 Posts
Thanked 491 Times in 244 Posts
otec is considered unworthyotec is considered unworthyotec is considered unworthyotec is considered unworthy
Re: Credit Card - surcharge abroad

Quote:
View Post
Are they putting the payment through in Euros? Or because they are based outside Switzerland is there a surcharge even though I paid in chf? Bloody annoying!
It's Bank's business model, that's how they make money. Same was in the UK when using GBP card abroad. In fact, most charge you twice: fixed non-sterling transaction fee and % of purchase. It's such a scam.

This is one of the reasons why Revolut and Wise have enjoyed such success.
Reply With Quote
  #18  
Old 09.08.2021, 14:21
Island Monkey's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Wallis
Posts: 6,893
Groaned at 124 Times in 88 Posts
Thanked 7,810 Times in 3,542 Posts
Island Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond reputeIsland Monkey has a reputation beyond repute
Re: Credit Card - surcharge abroad

So is it that the business is based abroad that is triggering the charge?
Reply With Quote
This user would like to thank Island Monkey for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Credit card, main use: car rentals. Credit card comparison scrabblegrey Finance/banking/taxation 21 16.06.2021 18:42
1.5% credit card surcharge on website owned by a foreign company freeworld Finance/banking/taxation 37 31.10.2018 15:48
Digitec is removing credit card surcharge simple_person Daily life 1 01.06.2017 14:42
Using Credit Card Abroad : Best One? juniovalerio Finance/banking/taxation 3 13.11.2012 11:53
AECS in Horgen - Credit Suisse's credit card business - somebody work there? Greg530 Finance/banking/taxation 9 15.04.2007 19:05


All times are GMT +2. The time now is 22:47.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0