When to expect to lowering of GBP transactions

[dajop]

I was a bit shocked that my credit card provider CITIBANK (Singapore) is still using pre-brexit peak exchange rates to process GBP transactions

Very early today I did a CC purchase for some easy jet flights. Exchange rate posted at about 11% higher than yesterday's peak (12% higher than at time of transaction). Usually discrepancy is a pretty accurate 2.8% compared to xe.com rates. Which it is compared to the per brexit exchange rate. Shocking that I bought some GBP early last week from local FX booth in SG lower than the rate I've been charged.

I am not naive enough to expect the exchange rate drop to be fully passed on but obviously I am naive enough to assume that some of it may be passed on.

Are Australian banks or Amex pulling his sort of cough? Want to know whether to use my AU or SG cards when in UK and Europe from Friday onwards for a couple of weeks.

 

[Cynicor]

Market rates should be mobile daily. Check Mastercard or visa site- they are the ones who set it, for CC transactions.

 

[theblank]

I was a bit shocked that my credit card provider CITIBANK (Singapore) is still using pre-brexit peak exchange rates to process GBP transactions .

A bank doesnt do the currency exchange for credit card transactions. VISA converts the foreign currency into the local currency, so Citibank only receives the transaction in its local currency.
You can look up the Daily Visa exchange rate online, its in the web somewhere (google knows)

 

[serfty]

This may help: https://travel.visa.com/apcemea/au/en/travel-tools.html

There's also a table - I'll try to locate it.

 

[basso]

I suspect it is just an issue with Visa in the way it sets rates. There is basically a bit of a lag, especially over weekends, as rates are generally set for the next business day (although I am not sure of the exact time they are set). So a change should come through in due course.