Foreign Transaction Fees on Canadian Amex
Feb 6, 2013, 2:15 pm
#1
Original Poster
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Foreign Transaction Fees on Canadian Amex
Hi everyone, I am not sure if this was answer before. But I have an AMEX from Canada, if I use it in Europe and was charge in EURO, does the 2.5% fee get charge twice?
Feb 6, 2013, 3:55 pm
#2
Join Date: Dec 2010
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https://searchcaen.americanexpress.c...play/a_id/5732
"All foreign currency charges have been converted into Canadian dollars on the date we processed the charge. Non-U.S. dollar charges have been converted through U.S. dollars, by converting the charge amount into U.S. dollars and then by converting that U.S. dollar amount into Canadian dollars. U.S. dollar charges have been converted directly into Canadian dollars. Unless a specific rate was required by law, the American Express treasury system has used conversion rates based on interbank rates (selected from customary industry sources) from the business day prior to the processing date, increased by a single conversion commission of 2.5%. Any charges converted by third parties prior to being submitted to us have been at rates selected by them"
Also matches my experience.
"All foreign currency charges have been converted into Canadian dollars on the date we processed the charge. Non-U.S. dollar charges have been converted through U.S. dollars, by converting the charge amount into U.S. dollars and then by converting that U.S. dollar amount into Canadian dollars. U.S. dollar charges have been converted directly into Canadian dollars. Unless a specific rate was required by law, the American Express treasury system has used conversion rates based on interbank rates (selected from customary industry sources) from the business day prior to the processing date, increased by a single conversion commission of 2.5%. Any charges converted by third parties prior to being submitted to us have been at rates selected by them"
Also matches my experience.
