FlyerTalk Forums - View Single Post - ATM fee for U.S bank card

Nov 13, 2010 | 2:29 pm

#19

fsfguy

Join Date: Nov 2009

Location: San Francisco

Programs: UA 1P, AA, DL, BA, LH

Posts: 293

Quote:

Originally Posted by mnredfox

This net an exchange rate of 6.633

For reference, my Schwab visa that day was charged as well and I got an exchange rate on that for 6.632 and another at 6.633

According to XE.com the rate for the day was: 6.641. At that rate the difference is $1 for every $125 spent from MARKET rate. Keep in mind, you'll never even get close to those at any hotel reception desk, exchange counter, etc...

Thanks, clearly Schwab is being fair, while I think that most cards probably don't monkey with the exchange rate, it would be nice to know for sure.

The XE.com rate is the average between the buy and sell rate so, no one on either side actually gets that rate. I checked Oanda.com for that date which breaks out the buy and sell rates and they show 6.631 as the average rate to buy RMB so, Schwab is spot on.

Unfortunately, I recently shredded the receipts from my last trip so I don't have info to compare for my bank. It would be interesting to see if other banks are the same.

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