It’s the percentage of the amount you pay in another currency levied by the bank. So basically whenever you go abroad and pay something with your card or you buy something online from a foreign store, you pay a tax to your bank.
- The Competition Council (Konkurrencerådet) considers that we have paid too much in the past years and ordered Danske Bank and Nordea to lower the percentage of the exchange rate surcharge.
- Danske Bank removed the tax within the European Union and lowered it to 1,5% outside of the European Union. Nordea reduced the fee to 1% within the European Union and 1,5% outside of the European Union.
- Lunar is the only bank that doesn’t have an exchange rate surcharge, regardless of where you are in the world on VISA Pro/Premium. However, on the VISA Standard, it is 1% for the whole world.
- The worst banks to use while shopping from abroad are: Vestjysk Bank (2% EU, 2.9% non-EU); Jyske Bank (2% World); Middelfart Sparekasse (2% World); SAS EuroBonus (2% World); Skjern Bank (2% World); Sparekassen Danmark (2% World).
