VeraCash has carried out an initial comparison between the VeraCash card and a payment card. Conclusion: the VeraCash card is approximately 3% cheaper than a conventional bank card.


Commission 1 + exchange rate + commission 2…

Do you really know the commission rates applied by your bank for your currency transactions outside the euro zone?

The amount of the commission varies from one bank to another, but can have a serious impact on your purchasing power when you travel abroad.

These commissions are in addition to the currency exchange rate chosen by the bank and that is rarely clearly explained to the customer. The further the exchange rate used is from the official “spot” exchange rate the more unfavourable it is, meaning that in reality an additional commission has been applied.

Not only does VeraCash take no commission on transactions in non-euro currencies but in addition, the euro to foreign currency conversion rate is very close to the “spot” conversion rate.

11% difference on a bill in Switzerland!

Conversion fees with VeraCashConversion fees with Banque Courtois

Here is a comparison of the costs:

Date Card Type of card Amount requested Currency debited Exchange rate shown on the receipt Surcharge indicated Spot rate Amount debited in the indicated currency Final amount debited from the bank Final CHF/EUR exchange rate value CHF/EUR exchange rate surcharge
24/04/2017 Banque Courtois VISA 50 CHF EUR 1.028556852 4% 1.08206 €48.61 €54.22 0.92216894 14.78%
24/04/2017 VeraCash MasterCard 50 CHF EUR 1.028556852 0% 1.08206 €48.61 €48.62 1.02859494 4.94%

Travelling outside the euro zone? Join our study

Planning to travel outside the European single currency area?

Take part in our large-scale study set up to assess the cost of using the VeraCash card abroad compared to using classic bank cards: we need as much data as possible! We will be offering 5 VRC to all participants and will share the results with our members.

  1. Pay 50% of the bill with your VeraCash card.
  2. Pay the other 50% of the bill with a standard bank card.
  3. Go to to calculate the “spot” conversion rate for the currency of the
  4. country at the time of the transaction.
  5. Take a screenshot as shown below.
  6. Email us the amounts of the receipts charged to your accounts, the screenshot of the conversion rate and your username.

Conversion from CHF to EURWe will credit your 5 VeraCash in the days that follow receipt of the complete information. 

Over to you!

Nicolas Faucon

Nicolas has been an inbound and digital marketing specialist for almost 10 years and is currently, the Marketing and Communication Manager for the AuCOFFRE group. He has been supporting the growth of VeraCash since 2016.