WIR Bank TOP package

Banks, Insurances & Third Pillar
103

Thank you for your suggestion. I can confirm that I am fully aware of the situation. My message was directed at you, not at @TRSP, whose actions are his own.

If you share the same concerns or have others, it seems more effective to address them directly to receive a tailored response. That said, if you prefer to rely on others’ initiatives, that is, of course, your choice.

In any case, I wish you all the best moving forward.

3 Likes
104

A tailored response to a common issue… alright then.

I hope you get better, too.

1 Like
105

So after a while I got a response from Wir. They assured me that everything was fine with my card and that the correct exchange rate (interbank rate) was applied.

I then replied and showed them three examples (in EUR, AED and GEL) where the exchange rate applied by WIR was worse than the one applied by Mastercard (and this was valid both on the date of payment as well as the date of settlement, so there is no argument here about which dates should apply). The answer was then:

  • WIR exchange rates come from SIX Financial Information and are updated in the system every 15 minutes. Their interbank rate is exactly as published by SIX.
  • The relevant date is always the date of settlement, which can be 1-2 days later than the date of purchase, depending on when the seller actually settles the payment.
  • They cannot judge whether the Mastercard exchange rate is worse/better. Especially for exotic currencies the Mastercard exchange rate seems to be slightly better.

So, as I mostly use ‘exotic’ currencies, I might go back to Neon or another provider that uses the Mastercard exchange rate then!

2 Likes
106

Thank you for the reply.

But I assume if one mainly uses the card for purchases in EUR and USD, WIR should be better than Mastercard rate?