Support Info: External PED Purchases

[Chaz]

When I deposit MA take a 3.5% PED fee, my bank charges me £1 for over seas transaction, I have no other fees from my bank at all.
So MA take the 3.5% PED from your deposit and then your bank charges you what ever there fees are if any.

Chaz

[PINKY]

Originally Posted by Vedder

Nope.

The bank or whatever you're using for the money transfers charges fees. MA doesn't.

Actually, i dont consider this to be true - The banks (or what ever deposit system you use) charge MA, not us.

MA then decide to forward that charge to us to cover their expenses.


I dont know how it is in the rest of the world, but the norm in the UK is that there is no charge for using a credit card. A couple of companies that want to scrape every penny from you do, such as Airlines that charge a credit card booking fee over the net, but it is looked upon scornfully by most of us end users.

But think of it this way, you go shopping in ANY high street store and every single one of them gets charged by the credit card companies for us using our credit cards - how many of them make us pay it?

Essentially, saying MA does not charge, its the banks - is fundementally wrong, as the banks (although some charge a yearly fee) NEVER charge a user for using a credit card, they do however charge the company you are paying. MA have decided to pass that charge on to us to cover their costs, but that is still MA charging us not the banks.

[Traf Rellik]

The point is that MA doesn't get that fee, and hence doesn't charge us to deposit. Whether some places pass the cost on or not is not relevant (and in general purely financial transactions and services will, goods won't).

I rather prefer it this way... can you imagine how much smaller the loot pool would be if MA paid the deposit fees for everyone?!?

[PINKY]

Originally Posted by Traf Rellik

The point is that MA doesn't get that fee, and hence doesn't charge us to deposit. Whether some places pass the cost on or not is not relevant (and in general purely financial transactions and services will, goods won't).

I rather prefer it this way... can you imagine how much smaller the loot pool would be if MA paid the deposit fees for everyone?!?

Oh yeah, sorry wasnt trying to say MA are wrong in doing so, as ultimitly the money has to come from somewhere as no company in the world would say - "lets take a dip in profits to absorb the cost..."

I just mean to say that there is a difference from saying MA does not charge us, the banks do. It 100% is not the banks charging us, they charge MA...

but yes, even if MA didnt charge us, you are 100% right, it would come out of loots or somewhere to cover thare costs, just like the high streets get it back in the price of their goods.

[aridash]

Originally Posted by PINKY

I dont know how it is in the rest of the world, but the norm in the UK is that there is no charge for using a credit card.

false. the charge is simply swallowed by the retailer, but it is there in the cost. it is often highlighted in money saving programmes that if you make high end purchases with cash you will get a 2-3% discount striaght away if you ask. we just tend not to.

in fact you even acknowledge this yourself:

Originally Posted by PINKY

A couple of companies that want to scrape every penny from you do, such as Airlines that charge a credit card booking fee over the net, but it is looked upon scornfully by most of us end users.

what you are asking is for MA to offer a standard rate exchange then swallow the charge for the CC depositor. but what about the bank transfer depositer? do you want them to swallow that charge too? what happens where one bank charges more or less than another? the standard exchange rate breaks down.

[PINKY]

Originally Posted by aridash

false. the charge is simply swallowed by the retailer, but it is there in the cost. it is often highlighted in money saving programmes that if you make high end purchases with cash you will get a 2-3% discount striaght away if you ask. we just tend not to.

in fact you even acknowledge this yourself:



what you are asking is for MA to offer a standard rate exchange then swallow the charge for the CC depositor. but what about the bank transfer depositer? do you want them to swallow that charge too? what happens where one bank charges more or less than another? the standard exchange rate breaks down.

Beat you to it! lol see post above yours (was just a badly worded post - i am happy with the current system)

[Cloud]

Well 3.5% fee is way more than Mastercard or Visa would charge MA.

This is why i put forward my opinion that it is possible MA does take a fee for themself, on top of Credit Card fee.
Like i said, thats more than i pay Mastercard and Visa.

Many establishments just build credit card charges into standard pricing so they dont appear to charge.If they get cash customer is a bonus.
Less scrupulous companies get charged say 1% to 2% and state fee is 3%, some are even know to say is 5%, so many make 3% to 4% for nothing.
Cream.
And yes Amex charges higher but is irrelevant here as MA doesnt use.

Cloud

[aridash]

Originally Posted by Cloud

Well 3.5% fee is way more than Mastercard or Visa would charge MA.

charges differ between businesses, anything from 2-4.5% (that i know of), taking into account nature of business, turnover, transaction volume, and intermediary bank/service provider. no doubt it is different between countries. unless you know otherwise for a fact, its best to leave it be.

[thoreau]

Originally Posted by Cloud

Well 3.5% fee is way more than Mastercard or Visa would charge MA.

This is why i put forward my opinion that it is possible MA does take a fee for themself, on top of Credit Card fee.
Like i said, thats more than i pay Mastercard and Visa.

Many establishments just build credit card charges into standard pricing so they dont appear to charge.If they get cash customer is a bonus.
Less scrupulous companies get charged say 1% to 2% and state fee is 3%, some are even know to say is 5%, so many make 3% to 4% for nothing.
Cream.
And yes Amex charges higher but is irrelevant here as MA doesnt use.

Cloud

Isn't there additional fees when currency is being exchanged? When I charged something in China with my Visa I pay a currency exchange fee. I'm sure this applies to deposits and withdraws in EU as well.

[-Herb-]

Originally Posted by thoreau

Isn't there additional fees when currency is being exchanged? When I charged something in China with my Visa I pay a currency exchange fee. I'm sure this applies to deposits and withdraws in EU as well.

What about those that live in US and don't have that? And of course, all credit cards and banks are different. So why is it always the 3.5% charge? If it really was the banks, it would always be different.