Currency FeeLitigation Settlement
 

On this issue of fees charged for foreign currency transactions, has anybody received any notifications or claim info on the currency fee litigation case?

Yes, for Visa cards.

BofA is BETTER
 

Time to consider switching to BANK OF AMERICA

For Canadian business & travel, SCOTIA BANK is their partner

currency fee lltigation case
 

http://www.ccfsettlement.com

"The current status of this class action settlement is that a decision to grant final approval of the settlement is pending before the Court.

With the expiration of the claims submission period, on May 30, 2008, the Settlement Administrator has commenced the process of auditing and validating claims.

Please be advised that any claims postmarked or faxed after May 30, 2008 will be considered late.

Also, any changes to your address or contact information should be sent in writing to the Settlement Administrator.

The issuance of refund checks for valid timely claims will not commence until after the Court enters an order granting final approval of the settlement, any potential appeals are resolved, and the Settlement Administrator has validated the claims.

Please continue to check this website for additional information about the settlement and claims administration as it becomes available. "


NO ONE has received ANY distribution yet.

To complicate matters further, SOME involved banks ( like Wachovia and Washington Mutual ) are are now NON-existent... so no doubt it'll be a year or two yet before you see a refund, so DON'T plan to to spend it on presents for a Christmas or two...:td: :p IF THEN....

Get capitalone. They don't charge the currency exchange fee.

I am selfishly glad to hear the compensation has not been sent out yet. I thought up until now the time I spent filling out the darn form was a huge waste of time. Hope I actually get something as my FX fees were a bit ridiculous.

Took around ten minutes to fill out the form. If I get the several hundred bucks I estimate, it will be time well spent. ;)

Plus the joy of seeing the banks' crooked forex system take a hit... :D

CapitalOne does not charge the fee AND they eat the fee imposed by Visa. A year or so ago, I compared exchange rates and they were as good or better than a cc that charged the fee.

You can't read the name on my card anymore, and its not old

CitiCards now charges 3% in Bermuda.

I think this just changed as I had used the same account at CitiCards with no fee at all. -- Some loophole I think really.

USB/BMD is 1:1

so you pay them 3% to do nothing basically!

I think it's time for our regular reminder to please, please read the wiki summary of this thread before posting things here.

About 80% of recent posts are already covered on the wiki.

Looks like the wiki hasn't been updated to reflect that Citigold is now 0% and $0.

So update it! But Citi is tough to keep updated, because they seem to constantly be changing their terms.

Confirming Citi ATM charges 3%
 

Just returned from Hong Kong
At the Citi ATM in HK using the US based Citi ATM card, there is a charge of more than 3%.
the exchange rate insidet Citi Bank is $1=HK$7.76 and my ATM withdraw is only $7.51.

As good as the Wiki is, may I suggest people to actually call and ask the Bank, Why since in the past few months a number of Banks have been taken over by other banks, its a good cahnce that the Bank that was taken over might have its fees etc the same as the Bank that took them over

Eg WaMu had charged only 1% on ATM withdrawls overseas, Chase took them over or is in the process of doing so. Chase has been 3% and I think a flat $ amount as well. Eventually I forsee WaMu fees being what Chases are