Go Back  FlyerTalk Forums > Miles&Points > Credit, Debit and Prepaid Card Programs > Credit Card Programs
Reload this Page >

Foreign exchange rates discussion [FOREX]--all cards

Foreign exchange rates discussion [FOREX]--all cards

Old Mar 2, 16, 5:08 pm
  #211  
 
Join Date: Nov 2014
Location: NYC
Posts: 581
Originally Posted by patrick.barnes View Post
You can't...
Well you can get a PIN for cash withdrawals. I have one, although haven't used the PIN. Whether or not the U.S. SPG Amex has chip & pin capability is something that I don't know.
NYCRuss is offline  
Old Mar 2, 16, 5:18 pm
  #212  
mia
A FlyerTalk Posting Legend, Moderator: American Express, Citi, Diners Club, Signatures
 
Join Date: Jun 2003
Location: Miami & London
Programs: AA & Marriott Perpetual Platinum; HH Gold
Posts: 41,988
Originally Posted by NYCRuss View Post
Whether or not the U.S. SPG Amex has chip & pin capability is something that I don't know.
Chip & Signature, same as all other cards issued American Express (USA).
mia is offline  
Old Mar 2, 16, 5:23 pm
  #213  
 
Join Date: Nov 2014
Location: NYC
Posts: 581
Originally Posted by mia View Post
Chip & Signature, same as all other cards issued American Express (USA).
Thanks!
NYCRuss is offline  
Old Mar 2, 16, 5:31 pm
  #214  
 
Join Date: Nov 2015
Posts: 383
Originally Posted by patrick.barnes View Post
You can't...
So in that poster's situation, it must be that any entry works for an Amex card at the kiosk where he had success.
Michael Ad is offline  
Old Mar 3, 16, 12:05 pm
  #215  
Hyatt Contributor Badge
 
Join Date: Oct 2009
Location: ORD [formerly] + HKG
Programs: CX Diamond, AA exExPlat, BAEC Gold, HH Diamond, Hyatt Globalist, Starriott Platinum, GE
Posts: 2,874
My MC transaction over the weekend finally posted today. The rate was pretty awful (4% off from the mid market rate) but not like I can do anything about it...

perhaps using the ATM cash rate is better when traveling abroad in the future.
G-CIVC is offline  
Old Mar 3, 16, 12:13 pm
  #216  
mia
A FlyerTalk Posting Legend, Moderator: American Express, Citi, Diners Club, Signatures
 
Join Date: Jun 2003
Location: Miami & London
Programs: AA & Marriott Perpetual Platinum; HH Gold
Posts: 41,988
Originally Posted by G-CIVC View Post
...4% off from the mid market rate...
On which date?
mia is offline  
Old Mar 3, 16, 7:49 pm
  #217  
 
Join Date: Jul 2014
Posts: 184
Originally Posted by patrick.barnes View Post
Okay, so to put the A+ fears aside:

Transaction for $3204 AUD on 02/29, posted same day (02/29):

USD $2281.57

Rate: 0.71210049937578

Xe.com rate for 02-28: 0.7126000000
Xe.com rate for 02-29: 0.7148934607

So MC beat the best mid market rate for both dates (taking into account possible timezone differences).

No 1% hidden markup noticed.
Great news, as 0.712100 is the rate quoted by https://www.mastercard.com/global/currencyconversion/ for AUD -> USD on 2/29. (I am pretty sure mid market rates have no bearing on what MasterCard charges post as.)
photaco is offline  
Old Mar 3, 16, 9:51 pm
  #218  
 
Join Date: Jul 2013
Programs: US Airways Dividend Miles, Marriot Rewards Gold, HHonors Rewards
Posts: 170
I was disappointed to see my charges for my trip starting tomorrow had about 1-1.8% added to them on my JP Morgan Visa over the market rate. It has barely fluctuated between 1.09-1.10 for EURUSD recently with applied rates of 1.11-1.12 on the transactions. The 2x points are worthless if I'm just paying that much in hidden exchange fees. I suppose I'll be forgoing the 2x points on travel and use my Amex wherever possible.

Chase really shot themselves in the foot making their exclusive deal with Visa since I would have just fallen back on a CSP MC if they existed. I need a good MC card and it looks like it will be coming from Citi instead.

I also wanted to add when I last made Euro purchases in 2012 and 2014, there was not that big of a fee. It was around 0.5% on Visa at the most, and the Amex then was at market rate. I haven't made any purchases for this trip yet on the Amex. If it is purely Visa, maybe we should start to make more of an effort to complain to the issuers to push back. At the least encourage them to list it separately as a fee charged by Visa so more people complain since no FTF does not mean 1-2% fees.
MOC991 is offline  
Old Mar 4, 16, 3:19 am
  #219  
 
Join Date: Oct 2005
Location: SF
Programs: UA, VX, QF, EY, VA
Posts: 756
Originally Posted by photaco View Post
Great news, as 0.712100 is the rate quoted by https://www.mastercard.com/global/currencyconversion/ for AUD -> USD on 2/29. (I am pretty sure mid market rates have no bearing on what MasterCard charges post as.)
Well, I think the prevailing FX rate has some bearing it's not a random number...

Either way, no mark up on the A+. Still the best card for FX.
patrick.barnes is offline  
Old Mar 4, 16, 4:11 am
  #220  
Hyatt Contributor Badge
 
Join Date: Oct 2009
Location: ORD [formerly] + HKG
Programs: CX Diamond, AA exExPlat, BAEC Gold, HH Diamond, Hyatt Globalist, Starriott Platinum, GE
Posts: 2,874
Originally Posted by mia View Post
On which date?
Feb 28th. Bloomberg showed rate of 16.1x...MC gave me 15.70...Anyway, this ex-JNB MR still got a good CPM ^
G-CIVC is offline  
Old Mar 4, 16, 5:42 am
  #221  
 
Join Date: Dec 2003
Location: NYC
Posts: 5,292
Based on these web sites, MC beats Visa for EUR and loses to Visa for GBP.

Visa tool: https://usa.visa.com/support/consume...lculator.html/

MC tool: https://www.mastercard.com/global/currencyconversion/

Based on these, Visa is usually about 1% more expensive for EUR charges paid in USD, with a range of about 0.75% to 1.25% higher. Charges in GBP charges however, were cheaper for Visa, by comparable amounts.

I can't find a similar tool for Amex, the closest is a Barclays UK which is only GBP https://www.barclaycard.co.uk/person...rds/amex-rates. GBP charges were cheaper than Visa or Amex, but I'm not sure how accurate this is, as I paid almost 1.5% more using an Amex SPG card.

Is there a general Amex currency conversion tool?

You might see if the reported rates equal what you were actually charged.
richarddd is offline  
Old Mar 4, 16, 7:29 am
  #222  
mia
A FlyerTalk Posting Legend, Moderator: American Express, Citi, Diners Club, Signatures
 
Join Date: Jun 2003
Location: Miami & London
Programs: AA & Marriott Perpetual Platinum; HH Gold
Posts: 41,988
Originally Posted by richarddd View Post
Is there a general Amex currency conversion tool?
There is one on the American Express UK website, but it requires a login to access, and I can no longer find a way to trick the site into accepting a USA login (redirects to USA site). The tool displays rates for specific card accounts. Mine is an International Dollar Card, so the rates are displayed in USD with the 3% Foreign Transaction Fee broken out (and excluded from the figures below).

For transactions processed 4 March the USD/GBP rate is .706, the USD/EUR rate is .913 . (We are accustomed to seeing the rates displayed the other way around 1.416 and 1.095 )
mia is offline  
Old Mar 4, 16, 8:14 am
  #223  
 
Join Date: Dec 2003
Location: NYC
Posts: 5,292
Originally Posted by mia View Post
There is one on the American Express UK website, but it requires a login to access, and I can no longer find a way to trick the site into accepting a USA login (redirects to USA site). The tool displays rates for specific card accounts. Mine is an International Dollar Card, so the rates are displayed in USD with the 3% Foreign Transaction Fee broken out (and excluded from the figures below).

For transactions processed 4 March the USD/GBP rate is .706, the USD/EUR rate is .913 . (We are accustomed to seeing the rates displayed the other way around 1.416 and 1.095 )
Visa is 0.712687 GBP (1.4031) and 0.921482 EUR (1.0852), so Visa is better on both.

MC only goes to 1 March, Barclay's Amex only to 3 March.
richarddd is offline  
Old Mar 4, 16, 8:40 am
  #224  
mia
A FlyerTalk Posting Legend, Moderator: American Express, Citi, Diners Club, Signatures
 
Join Date: Jun 2003
Location: Miami & London
Programs: AA & Marriott Perpetual Platinum; HH Gold
Posts: 41,988
Originally Posted by richarddd View Post
MC only goes to 1 March
These are the rates for transactions processed on 1 March 2016:

USD/GBP = .716 (1.397)
USD/EUR = .911 (1.098)
mia is offline  
Old Mar 5, 16, 4:02 pm
  #225  
Suspended
 
Join Date: Aug 2005
Location: BOS
Posts: 15,027
Chase Sapphire Preferred.
Transaction date: 3/3.
Post date: 3/4
Rate: 1.097251 USD/EUR.
VISA website for 3/4 with 0% bank charge: 1.097290 USD/EUR.

Last edited by Dieuwer; Mar 5, 16 at 6:04 pm Reason: Added currency info
Dieuwer is offline  

Thread Tools
Search this Thread
Search Engine: