Originally Posted by
joshwex90
Regarding the rates, even if they use Visa's rate of Amex's rate or MC's rate, the rates can be different depending on the issuer based on the posting. Do they use the rate at the time of the transaction? Time of transaction posting? A daily rate?
My understanding is that the rates used for ATM/cash advance transactions are the rates in effect on the date of the actual transaction, while credit card purchase transactions are based on rates in effect on the date of posting (not the date of the transaction itself).
According to Visa's
forex faq, the rate for transactions converted by Visa changes daily and is set the day before transactions are processed.