Buying USD with American Express card - possible ???

[Brooke01]

Hi everyone,

Quick question - does anyone know is it possible to buy foreign currency (specifically USD cash) with an American Express card ?? I know through Travelex that you can purchase using Visa and Mastercard, but no AmEx. Was even searching for Paypal payment (now that you can pay through Paypal with Amex), but am not having much luck with my searching.

Any help would be appreciated.

Thanks

Brooke

 

[cove]

Brooke you can get the best deal by getting a Citibank debit card. You apply at Citibank.com.au/plus and it is zero fees and true rate so you do not lose 5% or even 10% using other methods.

 

[yohy?!]

Used to be possible with a charge card doubtful you can now

 

[marki]

Brooke you can get the best deal by getting a Citibank debit card. You apply at Citibank.com.au/plus and it is zero fees and true rate so you do not lose 5% or even 10% using other methods.

Cove I have just used the plus Citibank account. Transferred Aud to Eur

They gave the bank rate as published on their citibank website. I got 0.64 instead of 0.665 per AUD.

So they are ok for small withdrawals from overseas ATM's because it is no charge except bank rate.

I have found HiFx very good. After being with 28 degrees and also using Amex FX . With HiFx I would have got 0.662 for the same deal plus 15 dollars if T/F under 10000. Still comes out to a better rate. You will be punished for small transfers.

With HiFx if your spend on FX is over 10000 no charge.

So Citi bank debit plus account is free but they are not the best but can be convenient for small ATM withdraw's

 

[cove]

marki was that at an ATM in Europe that you achieved a useless rate of 0.64 or were you in Australia transferring?

 

[Cynicor]

While I don't doubt your experience, I find it doubtful that a company is offering above market rates.

To explain your findings, I wonder if there was significant movement on the market overnight; as VISA use the fx rate from 1 day prior, unlike MC who use a dynamic rate? When the dollar moves the other way this can work in your favour too.

 

[cove]

I plan to put a chunky bill on these cards in April and it will be interesting to see how that one goes. The market moves every day so each time has produced some up and some down but right now I am around square when I thought I could lose 1% getting the 200,000 AA points.

 

[marki]

marki was that at an ATM in Europe that you achieved a useless rate of 0.64 or were you in Australia transferring?

Sorry for replying so late ... In Australia did a bank transfer from bank to bank. You maybe right that there is a better transfer rate if withdrawing from an ATM in Europe. I got the impression that they still use the bank rate though.