Amex conversion

[ditty]

Hi Can someone please tell me what the conversion rate is for Amex to dollar value Thanks Ditty

 

[marki]

I would like to tag along and ask about the best card for overseas travel especially for conversions and which bank charges the least for Foreign cash withdrawals? :?: Thanks for the ideas

 

[yohy?!]

Hi Can someone please tell me what the conversion rate is for Amex to dollar value Thanks Ditty

Assuming you are referring to USD to AUD conversion on an Amex card here? Generally it's several points worse off than the xe.com current rate plus a 3% forex charge.

I would like to tag along and ask about the best card for overseas travel especially for conversions and which bank charges the least for Foreign cash withdrawals? :?: Thanks for the ideas

Search this forum for Wizard Clear Advantage Mastercard, that would fit the bill for both questions

 

[Flashback]

I would like to tag along and ask about the best card for overseas travel especially for conversions and which bank charges the least for Foreign cash withdrawals? :?: Thanks for the ideas

Refer here: Wizard Mastercard Cash Advances while overseas

The NAB Gold account is also worth a look.

 

[marki]

Hi Can someone please tell me what the conversion rate is for Amex to dollar value Thanks Ditty

Hi Ditty,

I phoned AMEX today, IMHO

Amex charge 3 % transaction fee on all overseas transactions.
There conversion fee is Reuters.com daily rate. (you can look it up). They do not charge more or less for the actual transaction. (to get a double hit).

But you can cash a personal cheque overseas at an AMEX office up to 5250AUD in local currency (no fee, no 3 % at reuters day rate) every 21 days.

or if you have a charge (AMEX) card you can cash advance 1500 every 30 days with no interest at all as it is a charge card you pay it off in full anyway. Again no fee conversion no 3%.

So it is compelling in areas where you have an AMEX office available. (ie Germany)

 

[yohy?!]

But you can cash a personal cheque overseas at an AMEX office up to 5250AUD in local currency (no fee, no 3 % at reuters day rate) every 21 days.

or if you have a charge (AMEX) card you can cash advance 1500 every 30 days with no interest at all as it is a charge card you pay it off in full anyway. Again no fee conversion no 3%.

So it is compelling in areas where you have an AMEX office available. (ie Germany)

There's no cash advance facility on Green or Gold Charge Cards (only Platinum or Centurion have access to interest free cash). I think you may be thinking of Express Cash here which is direct debited from your registered bank account.

Also important to note that cheque-cashing is not always widely known about overseas, in my experience in Europe most offices did not what it was or how to do it.