OFT has received a super-complaint from Consumer Focus about the cost of getting foreign currency and overseas use of credit and debit cards. Consumer Focus has called on the OFT to investigate:
- the charges applied by some banks and credit card providers for buying foreign currency within the UK;
- the complexity and lack of clarity over charges for using credit or debit cards; and
- the meaning of phrases such as "0% commission" and "competitive exchange rates".