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Thread: Amex UK foreign exchange rates and fees
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Old Apr 22, 2012 | 2:04 pm
  #10  
Disco Volante
 
Join Date: Jun 2003
Location: London
Posts: 3,459
Originally Posted by alanjrobertson
Interesting, nfh - I didn't realise that! AMEX tried to tell me how they had a much better rate than buying foreign currency but I explained to them so did all other credit card companies but that 3% really added up! I think it's actually looks even worse given they (correctly) make the fee amount clear, whereas some card providers just roll it all into the exchange rate.
I don't follow this. Not all the companies use the same exchange rate. It is worth comparing Amex's to another card provider on a given day to see how they compare. If they have a more competitive exchange rate, then the effect of the 3% could be significantly reduced. There have been posts on here (Raffles IIRC) suggesting that Amex were more competitive.
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