Foreign exchange rates discussion [FOREX]--all cards
#121
Join Date: Feb 2013
Location: Miami, FL
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Posts: 6,008
Just found these guys... 1% interest checking acct with no fees, no atm fees worldwide and no forex fees. Might be on to something https://www.aspiration.com/
#122
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,486
Just found these guys... 1% interest checking acct with no fees, no atm fees worldwide and no forex fees. Might be on to something https://www.aspiration.com/
#123
Join Date: Feb 2013
Location: Miami, FL
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Posts: 6,008
Their debit card has a FTF. I also couldn't find whether the card is Visa or MC, which may be important for some. 1.1% isn't as bad as 3%+ that some charge though.
#124
Original Poster
Join Date: Feb 2001
Programs: IHG Diamond, HH Diamond, BW Diamond Select, Accor Silver, Marriott Gold
Posts: 4,219
As I will have few non-US transactions before the end of the year, it seems a good time for an update:
Chase IHG MC vs XE: -.17%
SPG Amex vs XE: +0.30%
Chase MP Visa last half 2015 vs XE: +0.88%
Using only paired same-day transactions:
SPG Amex vs IHG MC: +.34%
MP Visa vs IHG MC: +1.06%
Chase IHG MC vs XE: -.17%
SPG Amex vs XE: +0.30%
Chase MP Visa last half 2015 vs XE: +0.88%
Using only paired same-day transactions:
SPG Amex vs IHG MC: +.34%
MP Visa vs IHG MC: +1.06%
#125
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
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As I will have few non-US transactions before the end of the year, it seems a good time for an update:
Chase IHG MC vs XE: -.17%
SPG Amex vs XE: +0.30%
Chase MP Visa last half 2015 vs XE: +0.88%
Using only paired same-day transactions:
SPG Amex vs IHG MC: +.34%
MP Visa vs IHG MC: +1.06%
Chase IHG MC vs XE: -.17%
SPG Amex vs XE: +0.30%
Chase MP Visa last half 2015 vs XE: +0.88%
Using only paired same-day transactions:
SPG Amex vs IHG MC: +.34%
MP Visa vs IHG MC: +1.06%
#128
Original Poster
Join Date: Feb 2001
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Posts: 4,219
SPG Amex has only recently become FTF-free, so I've not used it enough to gather a variety of data points over multiple currencies. (Given how many places don't accept Amex, it might take quite a while too!) MC seems to track mid-rates consistently.
MP Visa comes out worst, no matter what currency. I'm not going to run a statistical variance analysis, but here are my figures for MP Visa vs XE since March:
AUD: +.94%
EUR: +.82%
MYR: +.99%
THB: +.60%
MP Visa comes out worst, no matter what currency. I'm not going to run a statistical variance analysis, but here are my figures for MP Visa vs XE since March:
AUD: +.94%
EUR: +.82%
MYR: +.99%
THB: +.60%
Last edited by Kremmen; Nov 11, 2015 at 11:48 pm
#129
Join Date: Apr 2002
Location: +61
Programs: SQ*PPS, QF-WP1 & LTG, VA-Gold, Marriott*LTT, Hilton*Gold, Accor*Platinum
Posts: 5,729
For US$2000, difference between interbank and Chase was ~1% ($20). Frustrating.
Code:
Source Rate VISA 0.72532 Market high 0.72050 Market low 0.71699 Market @purch.0.71749
#131
Join Date: Feb 2009
Location: Chattanooga, TN
Programs: Hertz and Best Western, a free agent in all other respects
Posts: 384
I'll second the awesome thread comment, very useful information.
FWIW, Charles Schwab offers an ATM/debit card with no foreign exchange fees and no ATM fees anywhere in the world (though it is a VISA card). The underlying checking account has no minimum balance or monthly fees. You have to open a brokerage account at the same time although you don't have to fund it. Applying incurs a hard pull.
After reading this thread the VISA card aspect makes it somewhat less desirable but I think it is still better than any other cash getting card that I have. I'll be in Chile next week and I'll compare exchange rates with a USAA MC debit card.
FWIW, Charles Schwab offers an ATM/debit card with no foreign exchange fees and no ATM fees anywhere in the world (though it is a VISA card). The underlying checking account has no minimum balance or monthly fees. You have to open a brokerage account at the same time although you don't have to fund it. Applying incurs a hard pull.
After reading this thread the VISA card aspect makes it somewhat less desirable but I think it is still better than any other cash getting card that I have. I'll be in Chile next week and I'll compare exchange rates with a USAA MC debit card.
#132
Join Date: Jan 2015
Posts: 1,112
Their debit card has a FTF. I also couldn't find whether the card is Visa or MC, which may be important for some. 1.1% isn't as bad as 3%+ that some charge though.
I posted on the thread on debit cards, but the real difference between my Radius debit card and my Fidelity Visa was something like 0.18%, with Fidelity taking the edge. This was one transaction in Euros done at an ATM back to back.
#133
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,486
I'll second the awesome thread comment, very useful information.
FWIW, Charles Schwab offers an ATM/debit card with no foreign exchange fees and no ATM fees anywhere in the world (though it is a VISA card). The underlying checking account has no minimum balance or monthly fees. You have to open a brokerage account at the same time although you don't have to fund it. Applying incurs a hard pull.
After reading this thread the VISA card aspect makes it somewhat less desirable but I think it is still better than any other cash getting card that I have. I'll be in Chile next week and I'll compare exchange rates with a USAA MC debit card.
FWIW, Charles Schwab offers an ATM/debit card with no foreign exchange fees and no ATM fees anywhere in the world (though it is a VISA card). The underlying checking account has no minimum balance or monthly fees. You have to open a brokerage account at the same time although you don't have to fund it. Applying incurs a hard pull.
After reading this thread the VISA card aspect makes it somewhat less desirable but I think it is still better than any other cash getting card that I have. I'll be in Chile next week and I'll compare exchange rates with a USAA MC debit card.
#134
Join Date: Oct 2005
Location: SF
Programs: UA, VX, QF, EY, VA
Posts: 756
It's serviced by Radius Bank. That means it's almost certainly a Mastercard. The customer service agent was technically right. They don't charge a fee. However, they must likely pass through the Mastercard fees. There's a 0.2% and 0.9% fee for transactions in a different currency and transactions outside the US (I don't remember if that's respectively). It's been mentioned elsewhere, but this is actually a common practice among Mastercard cards, including the Arrival+ apparently.
I posted on the thread on debit cards, but the real difference between my Radius debit card and my Fidelity Visa was something like 0.18%, with Fidelity taking the edge. This was one transaction in Euros done at an ATM back to back.
I posted on the thread on debit cards, but the real difference between my Radius debit card and my Fidelity Visa was something like 0.18%, with Fidelity taking the edge. This was one transaction in Euros done at an ATM back to back.
Most of the time it gets a better rate than spot.
The Citi cards are comparable.
I try to avoid using my Visas overseas due to the hidden ~1% FTF.
#135
Join Date: Jan 2015
Posts: 1,112
According to those comments, the A+ does charge a FTF. Barclay doesn't charge it, but MasterCard does (and this enables Barclay to claim it as a no FTF card). This is usually offset by the lower exchange rate that MasterCard offers.
However, that doesn't mean that it will always be offset by the exchange rate, and it does mean that there is still a FTF in principle, even if not in effect.
Again, I'm not commenting on my own experience regarding the Arrival+. I'm only reporting what others have said.
Edit: I do see that you, patrick.barnes did comment in that thread. However, there are people who directly responded to your statements with counterclaims. Again, I don't have personal experience with the Arrival+ and am only reporting.
Last edited by Phantom707; Dec 13, 2015 at 12:40 am