2.5% Foreign Currency Conversion Fee being introduced

[JohnK]

Going by XE.com:

....

So I guess CitiBank are already taking a 3% commission.

I guess an additional fee of 2.5% would apply to the CitiBank Visa making 5.5%! :shock:

It appears they are taking a 3% commission on the mid market rates quoted on XE.com.

If I remember correctly cash rates are only marginally better.

 

[akumaslair]

Ive been reading this forum as I currently use my card for online overseas purchasing, my visa used to be 1.5%, my new master card is 2.5%, so I started to use my old visa, and it too has gone up to 2.5%

are there any cards that have a 0%-1.5% foregin currency charge???

 

[aasz1978]

Hi,

I am very interested with how you managed to extract real bank charges on your FX withdrawals using XE.Com

Can anyone show me how to get such tool?

I've been to the website and only see normal FX quotes...

Thanks

Alex

 

[serfty]

... I am very interested with how you managed to extract real bank charges on your FX withdrawals using XE.Com

Can anyone show me how to get such tool? ...

Sure ...

Credit Card Charges Calculator™

 

[aasz1978]

Sure ...

Credit Card Charges Calculator™

Thank you....

 

[gibspmuh]

Ive been reading this forum as I currently use my card for online overseas purchasing, my visa used to be 1.5%, my new master card is 2.5%, so I started to use my old visa, and it too has gone up to 2.5%

are there any cards that have a 0%-1.5% foregin currency charge???

Happy to hear if there's any cards out there as well - with both Citibank and now American Express jacking up their FX charges, I'd certainly be in the market for a card without the same level of gouging (along with the banks increasing ATM charges too, we've almost come full circle where it's cheaper to use money changers again! :shock: ).

 

[serfty]

The Wizard Clear M/C may be suitable a 'non-gouging' option.

More here in the Wizard Mastercard Cash Advances while overseas and the Money Overseas - ATM, Trav Cheques or VISA threads.

 

[NiNJA]

I am pretty sure ANZ QANTAS FF VISA also charges 2.5% on all foreign currency transactions as well ... have done for a while.

Can anyone else confirm this?