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Thread: Amex UK foreign exchange rates and fees
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Old Apr 23, 2012 | 9:01 am
  #20  
flyertalker00152
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Originally Posted by Disco Volante
I may have misunderstood, but I have compared the $/£ rate used on my Mastercard statement and the rate used on an Amex statement for the same date. Amex offer the better rate, although then the 2.99% charge is applied.
All it means is that MasterCard did their GBP/USD trade at a different time of the day from American Express; the GBP/USD rate goes up and down all day. It doesn't mean that MasterCard's rates are always better or always worse. Figures from one day don't prove anything. You need to know what rate each card network got from its bank and then what markup it applied (if any) before adding a retail percentage to an individual card holder.
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