I just got my statement from Chase for trip in June to Japan. There were no forex fees on my Chase BA card. By the way the exchange rates were shown on the statement and were good, noticeably better than I saw for cash at a currency exchange.
Thanks, olddallas. My Chase BA card had no forex fees for purchases made abroad during July. Exchange rate was also good. Hope it stays this way.
I just got my statement from Chase for trip in June to Japan. There were no forex fees on my Chase BA card. By the way the exchange rates were shown on the statement and were good, noticeably better than I saw for cash at a currency exchange.
NO Chase BritAir Card Forex fees and great exchange rates...
Last use in Thailand through last month...as an Expat - semi-retired and in Thailand most of year.
Same for BritAir card used in South Korea in Feb 2012.
tj
__________________
TravelerJim
"Get OUT & Smell the Roses...While YOU Can!"
NO Chase BritAir Card Forex fees and great exchange rates...
Last use in Thailand through last month...as an Expat - semi-retired and in Thailand most of year.
Same for BritAir card used in South Korea in Feb 2012.
tj
As I understand it, there should be no differences in the actual exchange rate listed on statements bvy US credit card companies because these are the rates as established by mastercard or visa. They are required now to show whatever extra fees there are separately. Before this, most credit card companies simply folded the 3% or 1% fees into the sum total shown on the statement and you couldn't see it. Now on mc and visa cards, they have to show the converted amount and the fees separately.
Interestingly enough, and I said this somewhere else on this forum, I have an American Express card issued by FIA. Again, correct me if I'm wrong, Amex is not a part of this settlement. Their disclosure on this card shows a 1% currency conversion fee (I don't think Amex allows a foreign transaction fee, if you have a US issued Amex, they don't tack on a fee even if charges are processed outside the US and they don't allow dcc). I get a 2% cash rebate on everything I charge. When my visa card did not transasct properly when I bought theatre tickets in London on-line, I used the Amex card and when I received the bill (and interestingly enough the bill itself form FIA looks exactly like bills issued by FIA and Bank of America for my visa cards), and checked through oanda, indeed there was a 1% fee imposed on the currency exchange but no separate listing. Oh well. Since I get a 2% rebate, I still came out ahead 1% just as I would have the cash rewards visa card with no foreign transaction fee (the old Schwab card) and 1% cash rebate.
I can go out and mail a letter with the money I saved. Boyam I in clover.
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Quote:
Originally Posted by JEFFJAGUAR
... They are required now to show whatever extra fees there are separately.
My understanding is that the card issuer is required to disclose the fees, but not to itemize. Most have chosen to itemize because that is simple method of disclosure, but not the only method.
@Mia On the first page you mentioned Amex Platinum does not charge FX fees because it is a Charge Card and that feature is a function of Charge cards. I believe Amex BRG is also a Charge Card. Does it also not have FX charges? My quick search in this thread is not bringing up any references. Can you comment on it? Also on the Amex Prepaid card if possible? Thanks
@Mia On the first page you mentioned Amex Platinum does not charge FX fees because it is a Charge Card and that feature is a function of Charge cards.
You misread what mia wrote. Charge Cards are not specific to Amex, and whether a card is a credit or charge card and whether a card has fees (unrelated to paying over time) have nothing to do with each other.
It's fees related to paying over time that don't exist with charge cards, because you can't pay over time.
But whether a charge card has foreign transcation fees or not, that's up to the specific dharge card. It's nothig to do with whether it's a charge card or a credit card, per se.
All mia was saying is that a particular feature belong to a particular Amex charge card (and to that card only). It was not a statement about charge cards in general.
Here's the exact quote:
Quote:
Originally Posted by mia
American Express Platinum. This is a feature of thecharge card which carries a $450 annual fee, not of any other American Express card which happens to include the word "platinum" in the name.
Just to say...
From here we got the tip to use the Charles Schwab Debit card with zero ATM fees and it worked great in Asia, Middle East and Europe. All the fees have been credited back to the account (Thailand is US$5 per transaction) and when testing in Viet Nam, one of our local ATM cards did not work but the Schwab card did. Also setting up bank transfers between Schwab and your banking accounts is easy, works well, so set up in advance
Which of these are business accounts, as in the account is in the name of your business, instead of personal? I primarily use this for ATM cash withdraws in foreign countries for business purposes and this would simplify my accounting.
No forex fees and great exchange rate in Thailand
