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Spuraman

Payment?

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Hello

 

Soon i will need to pay for my procedure and i am just wondering how most people tend to pay.

 

I usually pay for things with cash but i dont want to travel all that way with all that money on me.

 

so my options are.

 

Pay on credit card

 

or

 

Transfer my money from my account into Dr Fellers account.

 

I have been told that if i pay on my credit card i will have to pay 2.5% interest.

 

Example

Procedure £4000 +2.5% Credit card interest = £4110 so thats £110 down the drain.

 

If i do a bank transfer they said i will be charged £20 to do this. I asked them about the exchange rate etc but they didnt know. They said i should go into the branch and find out, which i will do tomorrow as they are closed now.

 

i was just wondering what most people do besides pay by cash?

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Transfer the money into his account and be done with if you have it sat in the bank. Why put it on a credit card when your going to incur interest.

 

You could put it on the credit card and pay it off straight away, therefore no interest.

 

 

Look into the various exchange rates that these various payment methods offer.

 

Cash may be the best method, it often is.

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Transfer the money into his account and be done with if you have it sat in the bank. Why put it on a credit card when your going to incur interest.

 

You could put it on the credit card and pay it off straight away, therefore no interest.

 

 

Look into the various exchange rates that these various payment methods offer.

 

Cash may be the best method, it often is.

 

my credit card is new and has 9 months interest free. i have the funds but would like to pay it over 9 months as there wont be any interest. the money is coming from saving so if i pay it off monthly from my savings, i will be gaining more interest in my saving account. if that makes sense.

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my credit card is new and has 9 months interest free

 

if i pay on my credit card i will have to pay 2.5% interest

 

 

:huh:

 

 

sorry finding it hard to explain.

 

its 9 months interest free if i buy in UK

 

if i pay with it for my procedure i will pay £4000 +2.5% interest for the exchange rate. which adds up to £110. in reagrds to paying the bill. it would be interest free. The fee is for the exchange from dollers to pound conversion.

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Its simple maths. Look at which method offers you the best exchange rate essentially. When you're dealing with £4000 the slightest change in rate can make a difference. You are dealing with a lot of money.

 

eg: $10000 @ 1.76 = £ 5681

 

$10000 @ 1.80 = £ 5555

 

0.4 Difference in the exchange rate = £126

 

Work out each senerio to see which it the most cost effective way to pay.

 

 

At the end of the day when your parting with £4000 whats £25 to wire it to his account :huh:

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Its simple maths. Look at which method offers you the best exchange rate essentially. When you're dealing with £4000 the slightest change in rate can make a difference. You are dealing with a lot of money.

 

eg: $10000 @ 1.76 = £ 5681

 

$10000 @ 1.80 = £ 5555

 

0.4 Difference in the exchange rate = £126

 

Work out each senerio to see which it the most cost effective way to pay.

 

 

At the end of the day when your parting with £4000 whats £25 to wire it to his account :huh:

 

i know what you mean. All they told me was i will be charged £25 for wire transfer. I asked them about interest and currency exchange and they didnt know. So advised me to go into a branch and ask which i will do.

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I transfered the money

 

how did that work? did u have to pay a fee? what about the currency exchange rate?

 

You will have to pay a fee with any currency conversion using any company. Even if it is free, the rate is higher. YOu don't get nothing for nothing. I travel extensively and always get a better rate from my bank that using credit cards/

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I took cash which was a worry carrying around. I payed the balance for the additional grafts on my HSBC credit card. There is no additional fee added on my statement. Exchange rate was ok.

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