this post was submitted on 15 Mar 2025
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Buy European

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[–] Sylvartas@lemmy.dbzer0.com 1 points 23 hours ago* (last edited 23 hours ago) (1 children)

Just out of curiosity, what purchase taxes are you talking about ? Aside from the yearly fee and the occasional (quite steep though) tax when I withdraw money too many times from non-VISA ATMs I don't think I have many extra fees with mine.

[–] jafffacakelemmy@mander.xyz 6 points 23 hours ago* (last edited 23 hours ago) (1 children)

Maybe you dont have too many extra fees, but when you use your visa card or MasterCard to buy from a merchant, 3% of the purchase price is paid by the merchant to visa/MasterCard. In the long run that puts prices up because the vendor is passing on those costs to you, the buyer. Its a tricky issue because if you pay cash, the shop has to store, transport securely, and pay to deposit the cash into a business bank account. That might cost around 3% of their takings too. The feeling here is that if you buy 100 pounds worth of shopping, it doesn't cost visa/MasterCard anything like 3 pounds to process that payment, more like a few pence. So perhaps we are being taken advantage of?

[–] Sylvartas@lemmy.dbzer0.com 2 points 23 hours ago* (last edited 23 hours ago)

I see, that makes sense. Y'all might be talking me into switching to Revolut. Though I've gotta say that Visa's insurance saved my ass this very weekend by handling everything to bring me and my gf home after a visit to the ER that left us stranded 800 km from home (even though we are both on the cheapest visa cards available in our country), so I'll have to see if they have similar stuff