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If your Citibank has the Visa symbol then the 2.5% fee applies. :-|
Currencies fluctuate every day. The rate shown is effective for
transactions submitted to Visa on April 28, 2008.
1 Australian Dollar = 29.79 Thai Baht
No Visa symbol Ross. It is a plain Citibank Readicredit card. Just Eftpos, Plus, Star and NYCE logos on the back of the card.serfty said:If your Citibank has the Visa symbol then the 2.5% fee applies. :-|
Based on my recent experiences I would have to say that Citibank is charging 5% foreign currency commission. Either that or they are now using a very poor exchange rate before applying the 2.5% commission.oz_mark said:As far as I am aware the foreign currency exchange rate fee is 2.5% for Citibank, but Visa may charge a fee on the way through.
In that case you will need to take it up with them.JohnK said:No Visa symbol Ross. It is a plain Citibank Readicredit card. Just Eftpos, Plus, Star and NYCE logos on the back of the card. ...
Careful!
The Citibank Visa and Mastercards are not equiped with a Chip. Chip and PIN technology has been implemented in the UK and Europe lately (2006) as a way of reducing fraud. Whilst most EFTPOS devices can handle both Magnetic strip (citibank) cards and CHIP, in many cases a PIN will be required.
An update: Citibank cards are being chipped and cards reissued between August and October.
What security improvements does the chip provide?
My understanding is that it is supposed to verify the PIN - the machine takes the PIN that you enter, queries the chip, and the chip either says "yay" or "nay".
I could be wrong though.
No Visa symbol Ross. Just Eftpos, Plus
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So am I correct in thinking that the Wizard Mastercard is fee free...so if I say pay for my hotel in the US with this as a CC transaction, I don't pay the 2%ish currency conversion fee?
due to Amex ...... recently reducing points earning power