trev
Jan 28, 09, 1:09 pm
First of all, thank you for the guys removing all references for other countries than the US at the Flyerguide Wiki (http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange):
"Please note that this page is intended for people based in the US who have US$ accounts and are traveling to other countries. Including information for every country and currency would make this page too unwieldy, so we have deleted references to cards issued in countries or currencies other than the US and the US$."
So, I have no other choice than ask you here on the forum on foreign exchange for cards outside the US. I think it is a much more tricky question than with US cards, since foreign cards may deal with Visa and MC in US Dollars, so foreign exchange may take place 2 times when traveling abroad.
As far as I know, card companies deal Visa and MC in US Dollars, or in some cases in the Euro area, in Euros.
Example #1:
Swiss Bankers Travel Cash (http://www.swissbankers.ch/index.php?id=166&L=3) card
Available in USD, EUR and CHF. But the rep told me, if one travel outside the EUR, USD or CHF area, the CHF card gives the best exchange rate.
Maybe MasterCard deals with them in CHF? Or else, how a triple exchange (EUR or USD to CHF, the 3rd currency) may give the best exchange rate when traveling abroad?
Example #2:
HSBC Hong Kong USD Visa Card (http://www.hsbc.com.hk/1/2/hk/cards/foreign#visa)
They say it is best for spending US Dollars. That's for sure. But why it is only the better way to spend US Dollars but not to spend in 3rd countries? If let's say the card is linked to a US Dollar account. Card in USD, Visa deals whit the bank in USD, so one exchange less when they have to convert it to HK Dollars and then to third currency.
So, please help me understand concepts how to chose non US card for best foreign exchange.
Maybe we can make a separate page on the Wiki site for this, so it will not be lost in the forums and new people can easily find it?
"Please note that this page is intended for people based in the US who have US$ accounts and are traveling to other countries. Including information for every country and currency would make this page too unwieldy, so we have deleted references to cards issued in countries or currencies other than the US and the US$."
So, I have no other choice than ask you here on the forum on foreign exchange for cards outside the US. I think it is a much more tricky question than with US cards, since foreign cards may deal with Visa and MC in US Dollars, so foreign exchange may take place 2 times when traveling abroad.
As far as I know, card companies deal Visa and MC in US Dollars, or in some cases in the Euro area, in Euros.
Example #1:
Swiss Bankers Travel Cash (http://www.swissbankers.ch/index.php?id=166&L=3) card
Available in USD, EUR and CHF. But the rep told me, if one travel outside the EUR, USD or CHF area, the CHF card gives the best exchange rate.
Maybe MasterCard deals with them in CHF? Or else, how a triple exchange (EUR or USD to CHF, the 3rd currency) may give the best exchange rate when traveling abroad?
Example #2:
HSBC Hong Kong USD Visa Card (http://www.hsbc.com.hk/1/2/hk/cards/foreign#visa)
They say it is best for spending US Dollars. That's for sure. But why it is only the better way to spend US Dollars but not to spend in 3rd countries? If let's say the card is linked to a US Dollar account. Card in USD, Visa deals whit the bank in USD, so one exchange less when they have to convert it to HK Dollars and then to third currency.
So, please help me understand concepts how to chose non US card for best foreign exchange.
Maybe we can make a separate page on the Wiki site for this, so it will not be lost in the forums and new people can easily find it?