Paying credit cards from a foreign bank account?
Posted on Aug 07, 2010 under Foreign Currency Conversion |I will be living and working in Europe for a year, and will be getting my salary there deposited into a local bank account in Euros. Is there any way to use the European bank account to pay online my monthly payments for US credit cards? If that’s possible, will I be charged a fee for the currency conversion from euros to dollars? I know I could just wire myself some funds every once in a while from the European to the US account but this will be much more of a hassle considering I don’t speak the local language.
Its not that big of a problem, many banks have english speaking staff. Anyway, you can use a service like Lloyds Bank, which specializes in overseas money transfers. You pay Lloyds from your bank account online and they will pay directly to your credit card company. Its cheaper fees then what most banks do to transfer money overseas. All banks usually charge you a fee for transferring funds overseas, does not matter if you convert or not and then there is the rate that they will use to convert the money.
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August 1st, 2010 at 8:02 pm
Its not that big of a problem, many banks have english speaking staff. Anyway, you can use a service like Lloyds Bank, which specializes in overseas money transfers. You pay Lloyds from your bank account online and they will pay directly to your credit card company. Its cheaper fees then what most banks do to transfer money overseas. All banks usually charge you a fee for transferring funds overseas, does not matter if you convert or not and then there is the rate that they will use to convert the money.
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