Do you know how much you’re bank charges on your card when you shop Abroad?
How much you pay attention to whether the bank takes percentage if you swipe your card abroad? If you shop online and don’t notice that you come across a foreign website outside the EU , where you have to pay 2 or 2.5 percent more for your goods. Then it can make the item more expensive than the alternative you may have looked. Example 2% corresponds to you paying 2 DKK in fees every time you buy for 100 DKK.
You can see how much you pay in charges in your wallet once you have make payment in foreign currency with your card. This happens for all shopping example when you pay with your card on restaurants, shops, hotels, online websites and so on. So, all most all banks in Denmark will charge on your card when you shop abroad. Some charge more and some less fee which differs from bank to bank.
Lets find how are the rates calculated?
All banks have a price list on their website that shows which rates are used for Visa and MasterCard. The rates are based on a reference rate that can be seen at the card issuer, which is most often Nets. These reference rates differ from card to card and from bank to bank.
A percentage surcharge is calculated from the reference rate, which appears in the bank’s price list, typically 1-2%. As a rule, one percentage rate is used for European currencies, and another (higher) rate for other currencies (the term “European” in this context includes the EU countries as well as Norway, Great Britain, Iceland and Switzerland). The reference rate plus a percentage surcharge constitutes the effective rate that you pay when you use your card.
The cost percentage in the table below which you will see has been calculated by comparing the effective exchange rate with Danmarks Nationalbank’s average exchange rates. It is the exchange rate that banks use when they trade with each other. As a rule, the banks do not offer their customers to trade at this rate, although it is most often the one shown on various websites with exchange rates.
The cost percentage is calculated as the average over the last 25 banking days.
Find below to get you better understanding how much each bank charges the fee on the abroad transaction, depends on EU and rest of the world. These source been taken from Påbeløbet.dk. So, if you’re missing any bank below you can go through this website to check. To keep more update on the fee, website Påbeløbet.dk will provide accurate percentage fee.
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|Banker||Payment Card||EU (%)||Rest of the world(%)|
|Danske Andelskassers Bank||Mastercard||1,17||2,40|
|Danske Andelskassers Bank||Visa/Dankort||1,00||1,50|
|Jyske Bank||Visa kredit||2,00||2,00|
|Lån & Spar Bank||Mastercard kredit||1,50||2,00|
|Lån & Spar Bank||Visa/Dankort||1,00||1,50|
|Lån & Spar Bank||Mastercard debet||1,00||1,50|
|Middelfart Sparekasse||Mastercard kredit||2,00||2,00|
|Middelfart Sparekasse||Mastercard debit||1,50||2,00|
|Santander Consumer Bank||Visa||1,75||1,75|
|Skjern Bank||Mastercard kredit||2,00||2,00|
|Skjern Bank||Mastercard debet||1,50||2,00|
|Spar Nord Bank||Mastercard kredit||1,67||2,90|
|Spar Nord Bank||Mastercard debit||1,17||2,40|
|Spar Nord Bank||Visa kredit||1,50||2,00|
|Spar Nord Bank||Visa Debit||1,00||1,50|
|Sparekassen Danmark||Mastercard kredit||2,00||2,00|
|Sparekassen Danmark||Mastercard debit||1,50||2,00|
Source: Påbeløbet.dk, dr.dk
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