Originally Posted by
zyxlsy
But you've got visa.com and visaeurope.com and they all have the exchange rate information. That's what gets me confused.
I don't know which time zone you are in right now, but if you are in EST 9pm and go to visa.com, you see the latest available date to choose is today. If you go to visaeurope.com, the latest date is tomorrow already.
Therefore, Jul 28th EST might be different from Jul 28th UTC. That's my concern.
Can I assume since Chase is US-based, we can ignore visaeurope.com?
I'm on ET, but the time zone doesn't matter. What matters is the date the transaction posts. It seems to happen at different times depending on the particular Chase card. For instance, CSP updates around 11pm ET with new posted transactions on every day except Saturday. I've noticed this behavior with other Chase cards as well.
I've always used the Visa US rate and have been able to reconcile the posted transaction amount exactly by using the exchange rate for the date the transaction posted. For example:
Date of Transaction
06/06 NANDOS WORLD SQUARE SYDNEY 42.12
06/06 AUSTRALIAN DOLLAR
45.00 X 0.936000000 (EXCHG RATE)
The posting date was 6/8, so looking at the
Visa USA exchange rate on June 8th:
Exchange Rates
Currencies fluctuate every day. The rate shown is effective for transactions submitted to Visa on June 8, 2014, with a bank foreign transaction fee of 0%.
1 Australian Dollar = 0.936106 United States Dollar
Doing the calculation:
45.00 AUD x 0.936106 USD/AUD = 42.12 USD
There is a slight discrepancy between the Chase rate of 0.936000000 and the Visa rate of 0.936106, but I've never had it impact the calculation of the posted transaction amount.