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Paying in US dollars
On Apr 15, 11:23 pm, Rosalie B. wrote:
Capt Mary Kidd wrote: The message from Rosalie B. contains these words: "Leland F. Dumas" wrote: When I used an ATM in London last fall I was charged a "Conversion fee" also by Visa. I think it was only 1% though. I have been calling my different credit cards to check on this. One VISA, a debit card and one Mastercard charges 1% my AmExp charges 2% another VISA and one Mastercard charges 3%. Guess which ones I'm going to take? To make a fair comparison you should have asked what exchange rate they were charging at that time. If they all gave you the exact same rate then of course you would take the 1% one, but that may not be the cheapest overall if the others have a better exchange rate. When I called all the cards, I asked them what they would charge for transitioning between Bahamian or Bermudan $$ and US$$ and that's what they said they would charge. There is NO DIFFERENCE between what a Bahamian or Bermuda dollar cost would be and a US dollar cost as the currencies are on par with each other. Actually one of the cards said they charged no fee. I first ran up against the difference in charges when I was in the Bahamas. One card still charged me 3% on each transaction, while one card charged nothing for the transactions. It took me awhile to figure out why there was a difference between the charge slip I signed (which was for the cardiologist and the ICU), and the amount that I was charged. When I asked, that was the answer given. For the different currencies (like the Euro or the UK pound) hey all AFAIK charge the bank rate that is in effect when they get the charge. I've never found any difference between cards for the rate. - Hide quoted text - - Show quoted text - Thanks to all that replied At least I have got a few pointers. |
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