Originally Posted by
rminky
Yep, have checked all that, local currency is guilders and exchange rate varies by the day(or week). The local merchants all use the same exchange, which is 1-2 cents less than actual rate. That is the ONLY "hosing" that goes on. As far as the CC goes it comes thru without any additional charges levied. example last year rate was 1.77 guilders = 1.00 US-merchants exchanged at 1.75 = 1.00 US. By the way the change always comes back in Guilders, so no exchange rate on next purchase. You can go to bank, but the same rate prevails...they all like Americans so dont seem to take advantage of them via the money...probably do in other ways though!
It sounds as though you do have your eyes open and they are not screwing the unwary tourist there. Based on limited personal experience (Mexico in July) and that of a friend (this month in Belgium), what I described earlier may happen when one expects to pay their credit card bill in $USD after the local credit card company converts the local charges into $USD at the market rate for the day but the merchant tries to pay themselves extra (10% in my case with a Thrifty franchisee, about 7% for my friend with a different Thrifty franchisee) by chosing their own arbitrary rate of exchange before posting charges in $USD to the customer's card. Hence, as always, caveat emptor in these situations.