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January 9, 2014

Metro Bank will charge users for card transactions made overseas

While overseas use within the Eurozone will remain uncharged, Metro Bank will charge holidaymakers going further afield between 1.9% and 14% every time they use a card.

By Verdict Staff

While overseas use within the Eurozone will remain uncharged, Metro Bank will charge holidaymakers going further afield between 1.9% and 14% every time they use a card.

Charges, due to begin on 18 March, include £1.90 ($3.10) for £100 spent on card transactions and £2.90 for £100 withdrawn from a cash machine, with larger transactions being better value and smaller transactions being worse.

When the bank launched in 2010, it didn’t claim the typical fees banks charge of around 3% for withdrawing cash or spending abroad on a debit or credit card.

This and the promise of better service are believed to be the reason that many initial customers signed up to the UK’s first high street bank to launch in over a century.

The bank has retained the perk in countries that use the euro. However, outside the Eurozone there will be a 1.9pc charge per purchase from March 18 – equal to £1.90 on £100 spent on in a restaurant or shop.

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