We are updating the terms and conditions across for all of our private cards, among other reasons as a result of EU legislation regarding currency exchange charges.
The purpose of our updated terms and conditions is to make it easier for our customers to compare different companies’ currency exchange charges for EEA currencies within the EEA. This will not affect the price of the currency exchange however it means that you will now receive more information following certain purchases or withdrawals you make within the EU or EEA.
Last year, a new requirement was introduced into EU law which made it easier for our cardholders to compare different companies’ currency exchange charges when they make a purchase or a withdrawal within the EU or EEA. All companies’ that offer currency exchange services are now required to show the currency exchange charges in relation to the exchange rate calculated daily by the European Central Bank.
Following the new legislation, each time you make a purchase in some foreign currency we will now let you know where you can compare the currency exchange charges. If you make several purchases or withdrawals in the same currency, you will only receive information following your first transaction. Thereafter, you will receive new information every 30 days. You can choose not to receive this information simply by managing the settings in your Eurocard app.
You can find the new terms and conditions by visiting the "Prices and Terms" page. On this page you will also find the comparison tool that provides information on the latest currency exchange fees in relation to the European Central Bank's rates.