[SOLVED] Moneycorp ATM withdrawal at Stansted airport

#45

They are Moneycorp , I can under stand now, it was looking at me in the face, but could not see it, it was there terrible exchange rate, in other words greed of moneycorp
0.87/89 when exchange rate is 1.14 at the time £223 ÷ 0.87/89 is around €256.69 or there about discussing I say and how many others are ripped off like this

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#46

Check out my response at Moneycorp ATM withdrawal at Stansted airport

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#47

Can you give me the link to it cheers

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#48

It is a link, just click it :slight_smile:

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#49

Does not work I am only a standard member, so I might not be able to do it

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#50

Standard member?

Here we go

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#51

Hi
I just had a phone call, from the boss of moneycorp, they have said they are giving me a full refund, , so everythink turned out ok , just got to wait for it to arrive, I say a good result, lease they agreed there was a porblem, so glad they were very helpful, it was nice to hear them confirm this

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#52

Good result, well done

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#53

They said cause your in the departure lounge, expect the rent in airport’s is so high to rent premises, that what causes the problem, so many people going on holiday, I have all ways notice how lower the exchange rate is at airports, something is wrong, mind you ,all airports are rip off’s, have you not notice that the shops are all ways changing, when you get a big take away closes at Gatwick, McDonald, coffee is no cheaper in airports, even a breakfast is double inside there, so it must be the airport charging high rents, like it all over the world,

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#54

Prices at airports are usually very “premium” :wink: but completely switching the relationship of value between two currencies is still somewhat of a stretch :smiley:

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#55

Hmmm. Moneycorp are trying to wriggle out of this.

At the very least their processes are opaque, misleading and not at all transparent. You would have had a reasonable chance of success with a complaint to the financial ombudsman, so Moneycorp don’t really want to set a precedent, have to change all their processes and lose a lucrative (unfair) revenue stream. Hence they back down to individual complaints.

I’ve heard of the same problem with Travelex ATMs abroad. They automatically apply their shitty exchange rate.

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#56

That is just all too likely the case. They want to avoid this going public. There are probably way too many people who do not even pay attention to how they were just played and refunding the handful who actually go through a complaint will be still way more lucrative than applying a somewhat realistic rate.

I am afraid this is well past a simply shitty exchange rate. Literally swapping exchange rates borders (or maybe actually crosses into) fraud in my very humble opinion. Applying that kind of rate is not that much different from applying a GBP/EUR rate of 0.

Thank you very much for withdrawing with us today. As requested we have charged your card at GBP 223 at our favourable rate of GBP/EUR 0. Do not forget to take at least your card and please step aside for our next “customer”. Have a lovely day!

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#57

Refund arrived this evening, glad that is over, must say, ok the rate was terrible, but give them some credit, they sorted it out, and quite easy as well, but never will I use a ATM at a airport again, still all sorted now, thanks for the help everyone

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#58

I am sorry, I dont think they deserve any credit. Most likely they refunded you only for aforementioned reasons.

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#59

It was an unfortunate mistake to use a Revolut card in a MoneyCorp multicurrency ATM. This can only lead to huge problems, I believe I have previously seen Revolut warning against it but I don’t remember where.

The method of obtaining foreign (ie non-sterling) currencies from MoneyCorp ATMs at Stanstead, Gatwick and Southend airports by avoiding their own dreadful exchange rates works perfectly with most credit cards and prepaid cards. “Without Conversion” is selected when the screen presents the choice, so that the conversion is done by the card at the MasterCard or Visa rate (without fees or loading when such a card is used), instead of by MoneyCorp.

This cannot be done with a Revolut card. Revolut does not use the MasterCard or Visa conversion system and rates. It is recognised by the ATM as a UK card, pounds are taken, and the whole mess of multiple conversions continues from there…

Therefore - NEVER PUT YOUR REVOLUT CARD IN A MONEYCORP (or other) MULTICURRENCY ATM AT UK AIRPORTS.

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#60

Don’t worry, I will never use my revolut card anywhere near a airport again, we all learn something every day, no matter our old we are, but I must say, when I told them, they were very helpful, so I am grateful they gave my €56.69 back, saving me the hassle of taking it any further, cheers

Sent from Yahoo Mail on Android

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#61

hi there,
i will tell you why you’ve been charged so much, when you do cash withdraw, depends of your main account. for example if you are in a EU Union state witch is using EURO and you want to withdraw EURO or if you are in the UK and want to withdraw EURO from an ATM and your main account is in pound, and you dont have any pound, only euro in your accounts the ATM will exchange your euro from your account to pound and then make a second exchange from resulted pound to euro again, thats becouse your MAIN ACCOUNT is in POUND ( if is in another currency witch is not available at that moment, it will happend the same thing). As you probably know when you make exchange from a currency to another currency you always loose money and that the exchange rate from ATM is is very bad, from this situation results this big amount of money, witch is not a fee, but is the results of a bed exchange rate maided two times.

So the best way to make withdrawel is to choose at the ATM without conversion and to have available the amount minimum in the MAIN CURRENCY. if you do so the exchange rate will be made by revolut. EXAMPLE: if your base / main account is in POUND and you want to make a EURO withdraw and you dont have pound i your account, but you have euro. you have to top up your main account with pound and after you have the money in the account to make the withdrawel.

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#62

For everyone here, I’ve used it multiple times withdrawing euros at Gatwick with 0 issues. As you can see below, it was even able to take it out of another wallet and only withdrew the amount I received in cash.

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