How can I use the information included in the Cross Border Payments message?
The message will enable you to compare costs when using your debit or credit for future transactions in the same EEA country/ currency.
To help customers do this the notification will contain the following:
- Name of Payee or Retailer – where the transaction was made. This may be the name of the retailer or holding company
- % Mark Up – The percentage mark-up will reflect the difference between:
- what you will pay through Bank of Ireland (inclusive of the foreign exchange rate and charges that we apply) and
- what you would pay if the transaction was carried out at the latest available ECB rate (with no charges applied)
- Total transaction amount- This is the total cost of the transaction including the cross border handling fee