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-   -   Visa / Mastercard exchange rates (https://www.flyertalk.com/forum/credit-card-programs/911593-visa-mastercard-exchange-rates.html)

CAlex Jan 18, 2009 3:13 am
Visa / Mastercard exchange rates
 
With many European shops not accepting regular magnetic cards anymore, I'm looking for a new credit card, one with a CIP.

Found yesterday a local bank (ING) offering a good card, but their foreign exchange rate system seems quite odd:
  • purchases made in Romania - currency is RON, money will be debited in RON
  • purchases made in EU-zone - currency turns to EUR, money will be debited in RON from the account, after the exchange rate of ING in Romania (usually a 1-2% cost)
  • purchases made in non-EUR zone - currency is EUR, and money will be debited from my account following a strange algorithm:
  • change GBP to EUR at Mastercard exchange rate (big unknown...)
  • EUR is changed in RON at local bank exchange rate (in total I think I will get screwed with ~3-4%)
All the other CCs I have use only the Visa/MC international exchange rate from RON to the foreign currency, not a double exchange.

Does anybody know how Visa/MC calculate these exchange rates and where would we, customers, be able to see them online (even retroactively)?


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