Taxa forex de cartão de crédito hsbc

Bem-vindo ao HSBC em Bangladesh.

Últimas Notícias e Ofertas.

Caro cliente estimado, lamentamos informar que os serviços das instalações de ATM na KEPZ, Chittagong (Zona de Serviços do Edifício, Piso Térreo, North Patenga, Chittagong) e Mirpur, Dhaka (Hyperion House, Plot 61/1 e 61/2, A estrada 4, bloco B, secção 12, Mirpur, Dhaka 1216) não estará disponível temporariamente a partir de 13 de fevereiro de 2018 (terça-feira) das 08:00 às 15 de fevereiro de 2018 (quinta-feira) às 23:00 devido a trabalhos de manutenção ATM.

Exclusivamente para clientes do HSBC Select, descubra um mundo de experiências únicas e exclusivas para você saborear. Receba descontos instantâneos em restaurantes, compras, entretenimento, viagens e muito mais simplesmente mostrando seu cartão HSBC Select ATM. E mais, essas ofertas exclusivas são suas para aproveitar quantas vezes você quiser. Então, por que não dar uma olhada no que está em oferta e ver como você pode ser recompensado.

O HSBC tem a satisfação de oferecer o HSBC Select - uma proposta bancária personalizada que oferece privilégios exclusivos e cuidados pessoais incomparáveis. Projetado para os poucos selecionados que exigem atenção imediata e integral, o HSBC Select é mais do que apenas uma conta bancária. Ele oferece serviços personalizados, acesso a instalações especiais, preços preferenciais e conveniência incomparável.

É o nosso serviço de Internet Banking que torna o gerenciamento de suas finanças um prazer, permitindo que você atenda à maioria das suas necessidades bancárias on-line. Agora você pode assumir o controle de sua conta, seja em casa ou no exterior.

O HSBC Bangladesh está introduzindo um novo "Smart Form" para facilitar o processamento mais rápido de suas solicitações de remessa. Você pode baixar o formulário clicando em "Links> Payments Solution - Smart Form" em nossa homepage. Por favor, use o novo formulário para enviar suas solicitações para a filial mais próxima a partir de 1º de dezembro de 2016.

No mundo cada vez mais conectado de hoje, há uma necessidade maior de segurança - particularmente em relação ao setor bancário. É por isso que introduzimos o HSBC Safeguard - uma série de iniciativas criadas para proteger melhor todos os nossos clientes e suas finanças.

Economize tempo usando os Serviços de Valor Agregado do HSBC Personal Internet Banking (PIB). Esse recurso é uma maneira mais rápida e conveniente de você solicitar diferentes produtos e serviços do HSBC a qualquer hora, em qualquer lugar.

Internet banking.

Internet Banking Pessoal.

Serviços de Internet Banking.

Atalhos

&cópia de; Copyright 2018. O Hong Kong e Xangai Banking Corporation Limited, Bangladesh (HSBC Bangladesh). Incorporada no SAR de Hong Kong com responsabilidade limitada. Todos os direitos reservados.

Melhor ATM ou cartão de crédito para viagens ao exterior?

Só porque você está no exterior em férias, não significa que você ainda não deve prestar atenção às taxas. Visa e Mastercard cobram uma conversão padrão de 1% & # 8220; & # 8221; taxa em todas as transacções estrangeiras (mesmo que sejam em dólares dos EUA!) Muitos dos principais emissores de cartões de crédito cobram até outros 3% em cima disso. Por quê? Porque eles podem.

Mas, selecionando o melhor cartão de crédito do seu arsenal, você pode minimizar o dano. O Flyertalk tem um ótimo recurso listando todos os emissores de cartões e as tarifas que eles cobram. Não esqueça também de levar em conta o programa de reembolso de seu cartão específico, pois você ainda ganhará em compras externas.

O Citibank cobra 1% de taxa Visa / MC e 2% extra de si. Sobretaxa básica geral: 3%. O mesmo para Chase e Bank of America. Se você receber 1% de reembolso, isso significa uma sobretaxa geral de 2%.

A melhor carta (negligenciando cashback) pode realmente surpreendê-lo. É Capital One! Embora eles sejam conhecidos como um credor subprime, eles generosamente renunciam à taxa de 1% de Visa / MC e não cobram sua própria taxa. Sobretaxa básica geral: 0%.

A melhor coisa é que eu tenho um antigo cartão Capital One com um programa de recompensas que me dá um reembolso de 1% (só creditado anualmente, no entanto). Eu não o uso regularmente porque eu sempre posso fazer muito melhor com 2-5% de volta.

Mas em viagens? 1% de cashback total com o Capital One é o melhor negócio que consegui.

Assim como aqui, você precisa se preocupar com as taxas do caixa eletrônico tanto no caixa eletrônico que você realmente usa quanto no emissor do cartão. De acordo com a tabela do FlyerTalk, para mim a melhor aposta é provavelmente o meu cartão HSBC. Se eu encontrar um caixa eletrônico do HSBC, pagaria apenas a taxa de conversão de 1%. Se eu não o fizer, será cobrado um extra de $ 1.

O Bank of America é horrível, pois cobra US $ 5 por pop, mas se você puder encontrar um banco estrangeiro afiliado, você sai sem taxas. Como de costume, se você usar um banco que faz descontos de caixa eletrônico aqui, é onde ficará satisfeito.

Em geral, vou tentar pagar primeiro tudo com cartões de crédito (como em casa!) Por segurança e o dinheiro de volta de 1%. Depois disso, eu também carrego uma quantia decente de dinheiro comigo, e então uso um caixa eletrônico se eu precisar recarregar.

Eu raramente costumo usar mais os cheques de viagem. É mais fácil encontrar um caixa eletrônico nos dias de hoje do que um local que recebe cheques de viagem. Eu terei cartões de backup escondidos em lugares diferentes, caso algo seja perdido ou roubado.

Compartilhar isso:

Comentários.

Eu não tenho tanta certeza sobre o Capital One renunciar à taxa de visto / mastercard de 1%. Você ligou e perguntou, ou está baseando-se no FlyerTalk?

Eu liguei para eles para perguntar cerca de 6 meses atrás, e eles me disseram que era de 1%. Eu tenho o cartão No Hassle Rewards (1% cashback), então eu não sei se é diferente.

Hmm & # 8230; Eu sei que foi verdade em algum momento de 2005, quando eu fui para o Canadá, mas eu não liguei desde então. Dangit, outra coisa para adicionar à minha lista de afazeres!

Eu acabei de chamá-los. O cara disse que "não cobramos nenhuma taxa por transações estrangeiras". # 8221; Eu perguntei a ele sobre a taxa Visa / MC, e ele disse que eu teria que perguntar a eles sobre isso, e que tudo o que ele sabe é que a CapOne não cobra nenhuma taxa. Hmm & # 8230; Ainda assim, 0% no geral não é ruim.

O bom é que também pedi a ele que notificasse que eu viajaria para o exterior para não colocar uma fraude no meu cartão enquanto estiver lá.

Se você é cliente do Bank of America, deve verificar os bancos parceiros (sem taxas e a taxa de câmbio padrão). Na minha opinião, a melhor maneira de ir & # 8211; Eu uso para transferência de dinheiro regular & # 8211; contanto que você tenha acesso a um dos seguintes bancos:

Use seu cartão de caixa eletrônico ou cartão de cheques em nossa Global ATM Alliance nos países mostrados sem taxas.

Barclays (Reino Unido)

BNP Paribas (França)

China Construction Bank (China)

Deutsche Bank (Alemanha)

Santander Serfin (México)

Westpac (Austrália e Nova Zelândia)

Você esqueceu de mencionar que os cartões MBNA estão apenas 1% acima também.

Boa sorte na viagem. Em minhas viagens pela China / Japão, eu confiava muito nos caixas eletrônicos do HSBC.

Aqui estão algumas outras dicas de dinheiro:

-Carry muito mais dinheiro do que o seu uso. Eu nunca levo dinheiro algum nos EUA (uso meus cartões de crédito 99% do tempo); mas, na China, muitos poucos lugares aceitam cartões de crédito. Eu ouço mais lugares estão levando-os agora devido às Olimpíadas.

-ATMs na China (que poderiam se conectar a grandes bancos dos EUA e internacionais) sempre foram difíceis de encontrar para mim. Não os espere em todos os lugares.

Caso - Worse lembre-se de hotéis geralmente têm um serviço para tirar dinheiro do seu guia para uma taxa de 5-8%. Eles apenas adicionarão a sua conta e serão cobrados no seu cartão de crédito quando você fizer o check-out.

hmm, você sabe que no outro post que você mencionou trazendo dinheiro para trocar no banco, eu realmente não sei como essas taxas de câmbio podem ser favoráveis, ou melhor, a taxa ridícula para os não-membros. Hotel eu acho que é outro grande rasgo, com taxa de câmbio totalmente desfavorável.

Aqui está outra ideia que você provavelmente já fez, mas apenas no caso & # 8230;

Quando estava em Paris de férias, depois de me cansar de ser roubada pela taxa de câmbio, vi uma loja de patos de Pequim. Então eu perguntei a senhora se ela pode trocar alguns dólares por um euro para mim. A taxa que ela me citou era muito melhor do que qualquer outra taxa que eu tivesse acesso a mim, então prontamente troquei a maior parte do meu dinheiro com ela.

Tenho certeza de que você também pode encontrar algumas empresas locais que não têm problemas em trocar seus dólares americanos por uma taxa de câmbio mais favorável, se é que isso acontece.

Ah, se eu soubesse sobre cartões bancários, então. Eu teria prazer em comer as taxas para as melhores taxas de câmbio.

dinheiro é o rei na Ásia. taxas de câmbio para cartões de crédito sugam muito tempo & # 8230; você pode querer converter dinheiro nos bancos locais, em vez disso, "# 8230;

Eu tenho uma conta corrente do Bank of America e viajo para a Europa uma ou duas vezes por ano (sou um nativo da Alemanha). Escolhi o Bank of America especificamente por causa de sua rede de afiliados de multibanco e seu ótimo serviço bancário on-line. 🙂

Eu estou prestes a ir embora por um ano e Capital One é o caminho a percorrer. Eu uso o CitiCards normalmente, mas quando estou no exterior, é tudo CapitalOne.

Respondendo ao seu post um pouco atrás sobre o Bridgeway. Eles oferecem fundos steller. muito ruim 90% deles estão fechados porque eles são alguns dos melhores no negócio. Eu possuo BRSIX e enquanto eu comprei recentemente, antes da desaceleração do mercado, então eu não estou indo tão bem, eu estava feliz em encontrar um fundo que eu possa entrar antes que eles fechem! Eu recomendo altamente este fundo. ótimos retornos, boa escolha de small cap e baixa relação de despesas.

Eu tenho uma conta no Compass Bank, e seu discurso publicitário é que qualquer caixa eletrônico, em qualquer lugar do planeta, é gratuito. Eles não cobram, e se você guardar seus recibos e enviá-los, eles reembolsarão as taxas cobradas por outros bancos. Seu site é compasso.

Obrigado por todas as dicas! Tarde demais para se inscrever para novos bancos agora =) Tenho que ir com o que eu tenho. China Construction Bank for BofA, entendi. Escreveu no meu cartão de caixa eletrônico.

Obrigado pelas dicas, Jonathan! Nós vivemos no exterior vários meses do ano e apenas fazendo as contas, eu sempre achei que nosso Cartão Capital One GoCash era o melhor para compras no exterior, mas é bom ter confirmação. Assim como Matt afirmou acima, geralmente usamos Citicards para tudo nos EUA, mas mudamos para o Capital One quando estamos fora do país.

Capital One oferece 1,25% em dinheiro de volta agora depois de registrar com o seu programa No Hassle Cash. A página da web para se inscrever está em execução, mas ainda tem alguns problemas. Eu tentei me inscrever hoje e ele reclamou da minha data de nascimento (espero que não pense que eu sou muito velho :)). Além disso, há uma inscrição de bônus de US $ 5.

No que diz respeito a viagens ao exterior, a Capital One parece ser a melhor escolha, considerando que não há taxa de transação no exterior. Outro cartão que não tem taxas sobre transações no exterior é o Discover, no entanto, muitos lugares não o aceitam.

Eu vou para o Canadá com frequência suficiente para carregar cartões de bancos canadenses, denominados em moeda canadense. É útil, e faço minha conversão uma vez, no final da viagem, para cobrir tudo. Eu guardo algum dinheiro canadense no ING Direct e no TD Canada Trust.

Se você for ao Canadá com frequência, a fábrica de rumores afirma que o TD BankNorth oferecerá contas com fiação gratuita entre as contas do TD Canada Trust no Canadá e as contas do TD BankNorth nos EUA.

Meu Charles Schwab Visa (MBNA) não me cobrou uma taxa de câmbio aqui na Austrália. Também é um cartão com 1% de desconto.

Meu cartão HSBC está vinculado à minha conta do HSBC Direct e estou recebendo saques em caixas eletrônicos gratuitos em todos os caixas eletrônicos, e minha taxa de câmbio é a melhor que já vi.

Eu usei o Capital One Visa para uma viagem de seis meses na América Latina e nunca cobroi nenhuma taxa adicional. No que diz respeito a isenção da taxa de 1% cobrada pelo Visa & # 8230; O Visa confirma isso antes que as acusações sejam reportadas à Capital One, por isso não sei por que as pessoas disseram que essas cobranças poderiam ser dispensadas. Além disso, confira o E-Trade Bank, já que eles não cobram taxas por saques em caixas eletrônicos, e também reembolsam as taxas de multibanco cobradas por outros bancos. Você apenas envia um e-mail se a taxa não for reembolsada automaticamente.

Acabei de receber minha declaração do Capital One de uma viagem ao exterior. Você estava certo, sem taxas estrangeiras. Eles ainda comiam a taxa de 1% Visa / MC!

Tanto quanto eu sei que o cartão de crédito penfed é melhor do que qualquer outro visto mencionado. Não cobra uma taxa e, mesmo que não renuncie a 1%, dá-lhe 1,25% de volta, pelo que fica com 0,25%. Não é uma diferença enorme, mas ainda é um melhor negócio.

Alguém aqui usou o cartão HSBC ATM, que vem com o seu plano de poupança on-line?

Quanto será cobrado no total se eu estiver usando um caixa eletrônico não-HSBC? Incluindo encargos do HSBC e sobretaxas do proprietário da máquina.

Eu ouvi seus US $ 0,50 se eu não pedir uma mini-declaração. Mas não tenho certeza se há sobretaxas do proprietário da máquina?

Meu tio, que mora perto da fronteira, usa seu cartão de comércio eletrônico no Canadá. Como mencionado, ele reembolsa as taxas do caixa eletrônico. Mas uma vantagem adicional é que a taxa de câmbio que eles dão a você é exata com as taxas publicadas para esse dia & amp; tempo & # 8230;

Antes de ir para a Europa por 9 semanas neste verão (2006), liguei para Capital I para alertá-los de que usaria seu cartão extensivamente. Eu dei-lhes o meu itinerário e datas. Eu os usei no passado sem nenhum problema. Desta vez foi uma verdadeira decepção! Recebi um e-mail do departamento de fraude deles para contatá-los e ligaram da Europa e ficaram em espera sem ninguém atender. Enviei-lhes um e-mail de volta, dei a eles números de telefone na Europa, onde eles poderiam me encontrar, e mandei chamar meu filho adulto para explicar. Eu até paguei minhas contas imediatamente através da minha conta bancária para amenizar seus medos. Tudo em vão! Eles pararam de honrar meu cartão.

Apenas um follow-up, eu não fui cobrado a taxa de 1%, enquanto na Europa, ao usar o meu cartão Capital One.

Eu comprei um cartão de capital como resultado desta página (e alguns outros) para viajar na América do Sul. Funcionou maravilhas na Argentina & # 8212; sem taxas extras, como descrito.

Aqui é onde fica complicado. No Peru, Equador e Bolívia, era muito difícil encontrar fornecedores que aceitassem cartões de crédito sem taxa adicional. Alguns lugares apostariam numa sobretaxa de 7% para usar cartões de crédito!

Além disso, o Washington Mutual me cobrou US $ 3 por uso de caixas eletrônicos, além da taxa de 1%. Eu tinha perguntado a eles sobre as acusações e eles esqueceram de me informar disso antes de eu sair. Espero que esta informação ajude um futuro viajante.

Minha experiência com o HSBC foi horrível. Primeiro, preencho a inscrição on-line deles. Então, eles enviam o cartão. Eu ativo isso. Eu tento usá-lo em uma loja. Ele é recusado & # 8211; Eu estou humilhado. Eu ligo e sou informado de que está em uma suspensão de segurança & # 8220; & # 8221; porque eles querem que eu produza vários pedaços de & # 8220; proof & # 8221; que eu sou quem eu sou. Os documentos específicos que eles exigem são impossíveis para eu produzir, já que essas contas não estão em meu nome. Eu posso produzir muita documentação provando quem eu sou; no entanto, eles só aceitam o que querem. Eu sou tudo pela segurança, mas isso é ridículo. Liguei hoje para apenas ter minha conta cancelada. Eles me disseram que eu não posso fechar minha conta até eu produzir os documentos. Eu os informei que eles estão mantendo meu refém de crédito e eles simplesmente não se importam. Você precisa pesquisar o HSBC porque há muitas reclamações que você pode encontrar on-line sobre elas. Faça sua pesquisa. Eu queria ter.

Eu abri na Hungria uma conta OTP. Com essa conta de cartão de crédito denominada em euros, posso usar meu cartão de crédito na Europa (21 países) sem pagar taxas.

Alguém sabe de um banco com um acordo de parceria com o Bank of Ireland?

Eu estou na Tailândia a maior parte do tempo. Cartões de crédito e ATM são fáceis de usar em todas as cidades, dinheiro necessário em pequenas cidades e pequenas lojas.

Minha experiência atual:

& # 8211; Capital One é taxa de câmbio de 0% e dá as taxas de câmbio do mercado.

& # 8211; Os levantamentos de ATM em WaMu são de 1% de taxa de câmbio e de taxas de câmbio de mercado.

& # 8211; Os saques em caixas eletrônicos do Citibank são de 3% de taxa de câmbio.

Alguns comerciantes aqui adicionarão 3% a compras com cartão de crédito para cartões de crédito não emitidos por bancos tailandeses. Muitos não fazem isso, então dê um passe naqueles que fazem.

Acabei de receber um novo aviso de taxas do Washington Mutual. Sua & # 8220; nova & # 8221; taxas para uso de um & # 8220; não WAMU & # 8221; atm são US $ 2,00 por uso doméstico e internacional. Ainda há a taxa de 1% cobrada pela Mastercard.

Geralmente, eu uso um cartão do Credit Union Star ATM que tende a me dar melhores taxas de câmbio e sem taxas. Eu também usei o Fidelity Visa Card associado à minha conta de corretagem porque ele não tinha honorários internacionais e 1,5% em dinheiro de volta à minha conta de corretagem, mas eles apenas me enviaram uma correspondência que anunciava uma taxa de transação externa de 3%. Agora estou procurando um novo cartão e pretendo fechar todas as minhas contas de fidelidade, incluindo as contas de cartão de crédito, corretagem e aposentadoria. Eles vão perder milhares de dólares por ano em honorários como resultado direto de uma cobrança por cartão de crédito que equivaleria a cerca de US $ 50 por ano.

Capital One tem um limite de retirada de dinheiro por dia.

Acabei de telefonar para a CapitalOne Canada e eles me disseram que é uma taxa de conversão de 2,5% em moeda estrangeira. Ele também diz o mesmo em seu site. Neste blog eu assumo que a maioria das pessoas está falando sobre cartões americanos & # 8211; parece que os cartões canadenses têm diferentes cobranças associadas a eles.

Eu tenho um visto REI, emitido pelo Banco dos EUA. Grande programa de recompensas se você for um comprador na REI. O grande problema, no entanto, é que eles tomem anti-fraude um pouco estritamente. Como um cartaz anterior, eu os informei sobre minhas viagens ao exterior e as datas. Quando o hotel tentou cobrar um depósito de segurança, como exigido para manter a reserva, foi recusado como uma retenção de segurança. O banco dos EUA nunca tentou entrar em contato comigo. A reserva teria sido perdida se eu não tivesse entrado em contato perguntando por que a cobrança não tinha sido mostrada no momento. Se eu não tivesse outro cartão (Chase United Airlines), eu não teria um lugar para ficar. O banco dos EUA nunca se desculpou, mas mais ou menos me disse que é assim que eles fazem negócios. Eu vou deixar este cartão em casa para todas as minhas viagens internacionais!

Por dois dias, tenho conversado com representantes de atendimento ao cliente e sites de busca para encontrar as taxas mais baixas possíveis para lidar com dinheiro no exterior. O processo foi tão cansativo que, em um determinado momento, considerei comprar cheques de viagem da American Express para "simplificar". Mas então aprendi que em toda a cidade de Kansas, no Missouri, há apenas um escritório da American Express, e está no subúrbio, longe de locais turísticos. Roma, Itália? Há três escritórios e, pelo que sei, eles também estão nos subúrbios. Se eu tivesse a sorte de encontrar um comerciante europeu que aceitasse os cheques de compras dos meus compradores, eu provavelmente teria de considerar a sobretaxa do comerciante.

Baseado em minha pesquisa, aqui está minha nova abordagem tripla: o cartão Capital One Visa quando não houver sobretaxa de comerciante, dinheiro para todo o resto usando um cartão de caixa eletrônico do Schwab Bank, com o cartão do Bank of America como backup .

1) A partir de hoje, a Capital One Visa diz que ainda tem 0% de sobretaxa estrangeira, desde que eu use o cartão para compras, não para adiantamentos em dinheiro.

2) O cartão ATM do Bank of America tem apenas a sobretaxa de conversão de 1% e nenhuma taxa de transação, desde que eu permaneça em sua rede, o que é extenso.

3) A Charles Schwab precisa cancelar seus assustadores anúncios de TV com o número de pinturas por número e iniciar uma nova campanha: Schwab é herdeira do trono do Traveller do Viajante que a AmEx vetou totalmente! Com uma conta Investor Checking (sem mínimos, sem taxas, cheques gratuitos e paga um generoso 4,25% em juros), eu posso obter um cartão ATM que não tem nenhuma taxa. Nenhuma taxa de câmbio ou conversão. Todos & # 8211; e eles significam que todas as taxas de ATM são reembolsadas. Eu perguntei sobre qualquer taxa Visa / MC, e eles disseram que não, não há nenhum. (Eu já tenho uma conta corrente da Schwab, mas vou abrir uma segunda conta apenas para despesas de viagem.)

Estou errado em alguma coisa? Se sim, por favor me corrija. Obrigado.

Um crédito de poupança real não existia até hoje. Os gadgets complicados não ajudaram em nada. Dragon Credit Card Network oferece o primeiro uso seguro e seguro de cartões de crédito on-line e em outros lugares. Entre em contato com seu banco local e peça detalhes.

A multa do banco Schwab diz: Taxas do caixa eletrônico reembolsadas até as primeiras 6 transações, até US $ 9, a cada período de declaração.

Cartão de crédito Capital One: LOVE para viagens devido a nenhuma taxa para compras com cartão de crédito. No entanto, você TEM QUE CHAMAR ANTES de deixar o país e especificar para onde está indo e quando, caso contrário, o departamento de fraudes congelará o cartão facilmente, exigindo um incômodo gigantesco de várias chamadas internacionais para tentar descongelá-lo. Eu passei por isso.

Alguém sabe qual cartão de crédito Capital One oferece sobretaxa em moeda estrangeira? Isso é efetivo em todos os cartões? Obrigado a todos!

pensei que isso poderia ser relevante aqui.

Houve muita discussão sobre SD em relação ao processo de Taxas de Transação no Cartão de Crédito (MC / Visa / Diners Club).

No entanto, ainda não tenho certeza se é fictício ou legítimo.

Qualquer um rebanho disso.

Isso é real e tem uma leitura. Eu vivi no Japão de 96 a 99 e viajei para o exterior por 99-05. Eu arquivei e será significativo.

Na verdade, as empresas de cartão de crédito não estão autorizadas a cobrar uma taxa pelo uso do cartão no exterior. Acabei de receber a papelada para resolver uma reclamação contra a empresa de cartão de crédito que usei por causa das acusações de usar o cartão no Canadá. Eles fazem bilhões de nós todos os anos, não os deixe levar mais dinheiro!

Só queria dar alguns dados. Minha esposa está em Londres, na Inglaterra, e tem nosso cartão de débito / multibanco Bank of America (vinculado a uma conta corrente), bem como um cartão Master One Platinum da Capital.

Eu só tive a chance de comparar as taxas de câmbio exatas para compras semelhantes no mesmo dia.

Capital One Mastercard, cobrado GBP 269,00 em 19 de dezembro de 2009. Apareceu como 542,39, uma taxa de 2,016319 & # 8230;

Bank of America Multibanco usado em um banco de Londres Barlcay (em rede): retirada de 200,00 libras esterlinas em 19 de dezembro de 2009. Apareceu em US $ 403,26, uma taxa de 2,0163.

Esta comparação aplica-se apenas a compras (não adiantamentos em dinheiro) no cartão de crédito CapitalOne vs saques de ATM em rede (não compras) no cartão do Bank of America. Mas eles saem do mesmo jeito, o que me surpreendeu quando pensei que o caixa eletrônico do BoA teria uma taxa extra de 1% em algum lugar.

Eu estou esperando que alguém possa me ajudar a descobrir isso. Eu moro na Alemanha, mas tenho uma conta bancária nos EUA e pago em dólares americanos. Hoje eu descobri que a taxa de câmbio estrangeira que meu banco tem & # 8211; HSBC & # 8211; é realmente muito diferente (ou seja, muito ruim) do que a taxa diária estabelecida é na bolsa de valores. No meu extrato bancário, 500 euros se levantam = 764,60 dólares em 1/16. Mas quando eu olho para o que o dólar está negociando então, 500 euros devem ser 739USD. Então eu estou sendo cobrado 24USD com esta taxa de câmbio terrível, que é realmente invisível, a menos que você se preocupe em verificar.

Liguei para o HSBC e consegui três pessoas diferentes que me deram três taxas de câmbio diferentes para o dólar de hoje, o que torna as coisas mais confusas. Por que o HSBC pode me cobrar uma taxa de câmbio tão ruim? Eu pensei que os bancos tinham que ter o mesmo? E alguém sabe de um banco que tem uma taxa de câmbio melhor?

O HSBC me diz que o sistema Cirrus usado por eles agora cobra uma taxa de 3%. Eu estou fora do Pentágono Federal Credit Union, que absorve as taxas Cirrus.

Bem Pentagon Federal Credit Union soa muito bem # 8211; se você está associado com os militares de alguma forma. Eu sou jornalista & # 8211; portanto, não atenda a nenhum dos requisitos. Alguém conhece um banco que não cobra essas taxas? É mais do que deprimente ver meu salário despencar. Eesh

Você pode participar do Pen Fed se ingressar na National Military Family Association. É uma taxa única de US $ 20 e qualquer pessoa pode participar.

Capital One No Hassle é taxas de forex de 0%. Eu tenho usado no Brasil no ano passado.

Apenas uma atualização sobre o Banco da Bússola e os encargos do caixa eletrônico. Eles podem ter dito livre em qualquer lugar no passado, mas agora.

Ao viajar para fora dos EUA, há uma taxa de serviço internacional (ISF) que é adicionada ao valor total da transação quando postada na sua conta.

Para transações com Check Card com base em assinatura, adiantamentos em dinheiro e compras baseadas em PIN, essa taxa será igual a 3% do valor da transação. Para transações ATM com base em PIN, essa taxa será igual a 1% do valor da transação. & # 8221;

Então parece que você está sendo atingido com uma taxa de 1%. E sim, isso se soma. Como funcionário de uma empresa americana, sendo pago na América, e acessando meu salário mensalmente por meio de caixas eletrônicos, 1% é uma boa mordida.

TDBanknorth tem o melhor, você pode usar seu cartão multibanco / débito em todo o mundo de graça! Eles rebate todas essas taxas no final do mês. É gratuito, sem saldo mínimo, além de bancos on-line impressionantes para inicializar! A Visa cobra uma taxa de conversão de 1%, inevitável. Ah sim, e eles acabaram de comprar o Commerce Bank.

Um alerta digno de nota:

Eu costumava viajar com o meu caixa eletrônico do Citibank e usava as muitas locações do Citi na Alemanha, Espanha, Bélgica, etc., mas agora eles estão cobrando taxas de 2% para todos, exceto "gold & # 8221; gold & # 8221; clientes. Portanto, é sempre bom fazer o check-in e ver se as coisas mudaram no seu banco. Por que não apenas nos cobrar uma taxa fixa por serviços como esses? Meu Visa Cap-One ainda não cobrava taxas de conversão, então fiquei feliz com isso.

Lembro-me de viajar na Itália em 2003 e não ter nenhuma carga quando uso o meu cartão nos EUA.

Algumas das informações dadas aqui são muito legais e eu tenho um cartão de alguns dos falados aqui. Sim, os descontos de 0 e sem encargos são bem e nós pensamos que isso é ok, mas mais olhar as taxas de conversão de bancos. TODOS Os bancos estão fazendo uma matança séria convertendo seu dinheiro na moeda dos países estrangeiros. Sou consultor na Europa e estou aqui há mais de 25 anos mantendo meu escritório em casa nos EUA.

Obrigado por todas as informações, isso realmente vai me ajudar.

Eu estou sendo enviado um cartão de caixa eletrônico através de seu banco eu vou enviar uma taxa para o seguinte endereço e atenção para a pessoa seguinte. Ele trabalha para o seu nome de banco Ayodele Omilabu na praça Hsbc nunhead londres Inglaterra, SE 15 3xl.

VERIFIQUE SEU FATO ANTES DE POSTAR.

alguém acima disse que o Bank of America se juntou a uma Aliança Global com o banco estrangeiro, assim como as companhias aéreas. Nenhuma taxa de caixa eletrônico estrangeira e troca no preço de mercado.

me sinto tão mal que isso chega bem alto em uma pesquisa no google.

O BofA está livre apenas de taxas de caixa eletrônico para os seguintes bancos:

* Barclays (Reino Unido)

* BNP Paribas (França)

* China Construction Bank (China)

* Deutsche Bank (Alemanha)

* Santander Serfin (México)

* Westpac (Austrália e Nova Zelândia)

re: Capital One. Eu sei que está em todo este comentário, mas eu queria saber se a taxa de não-conversão também se aplica a cartões Capital One DEBIT (ou seja, se você depositar com o Capital One Bank, o que eu faço). Obrigado. Eu estou indo em breve e eu apenas compro uma passagem de uma empresa estrangeira e notei uma grande taxa na minha declaração, que eu realmente, realmente espero evitar no futuro. Além disso, estou indo para a Europa para.

5 semanas e eu não estou lá há muito tempo. Eles têm sistemas para aceitar meu cartão de débito como o meu número PIN para compras em PDV ou seus sistemas não funcionam com sistemas americanos? Obrigado novamente!

Oi Jackie, você definitivamente não pode usar os cartões de débito dos EUA (como em inserir o pin no checkout) na Europa. O único sistema de dívida que eles criaram baseia-se no cartão EC, que você precisa obter através de sua conta bancária na Europa.

A melhor coisa é você fazer uma retirada em um caixa eletrônico com o seu cartão Capital One (o que lhe permitirá economizar nesta taxa de conversão oculta cobrada pelos outros cartões) e pagar em dinheiro. Ou use seu cartão como um cartão de crédito (embora muitos lugares fora do circuito turístico não os levem).

Provavelmente, você também deve ligar para seu banco e informar a eles que está viajando ou eles sinalizarão seu cartão e recusarão.

Jonathan, para o China Construction Bank, qual PIN é necessário.

Ouvi dizer que o seu caixa eletrônico requer seis dígitos e BOA tem apenas por aqui.

Obrigado por este post. Eu estou esperando que a CapitalOne ainda não carregue.

Eu estou indo para a Itália em um mês e fiquei chateado ao descobrir que o meu especial "nenhuma taxa de transação estrangeira" # 8221; a conta do cartão de crédito foi fechada (não uso o cartão há anos). Eu estava resignado a pagar a taxa de transação de 3% no meu cartão regular, mas eu tenho um back-up do cartão CapOne que eu vou checar. Eu apenas presumi que eles também me arrancariam.

obrigado novamente, steve booth.

Eu tenho usado o meu cartão Capital One no Reino Unido & # 8230; tem sido complicado encontrar lugares que aceitem não-chip-e-pin. Então sim, sem taxas, mas boa sorte usando o cartão na maioria dos lugares. Além disso, fui bloqueado pela compra on-line pela implementação do SecureCode e não posso mais reservar viagens on-line & # 8230; o que no Reino Unido pode significar pagar mais do que TRIPLICAR o custo ao pagar pessoalmente em uma bilheteria, e isso não inclui a taxa de cartão de crédito que a maioria dos lugares cobra para cobrir seus custos com as empresas cc.

Não há como entrar em contato com as pessoas do serviço da CapitalOne, a menos que você se inscreva em seu site, o que exige informações que estão trancadas em casa na América. Então basicamente o cartão é inútil agora.

Muitos bons relatórios sobre Capital One..Thanx .. Tem sido muito desgostoso com citibank no ano passado; e estou procurando uma opção melhor para retiradas de atm em So. Amer. o citi tem muitos locais em dizer Bogotá & # 8217; no entanto, minha declaração mostra uma transação não citadina & # 8221; quando eu uso um caixa eletrônico para sacar dinheiro com seu cartão de débito .. cartão citi atm na agência citi ainda a transação fica preso com uma taxa de transação de 3% e uma taxa de câmbio muito baixa & # 8212; aproximadamente o mesmo que amex trav. cheques .. Não em qualquer lugar perto da taxa oficial como publicado diariamente pelo Banco da República .. Alguém poderia pensar que, dado todos os citibanks taxas excessivas seu estoque seria muito mais forte do que o status penny eles agora encontram-se em .. muito grande para fracassar, hein, e ainda se alimentando na calha do governo financiada pelo contribuinte - os meios de comunicação falam muito sobre a economia global - Eu acho que isso é para as grandes empresas, e deixar o viajante individual pagar o frete para bigbiz & # 8230 como a maioria das empresas de água, onde o indivíduo usa 3% da água e paga 90%. Hooray para Jesse James.

Eu tenho lido as postagens desta página e tenho uma pergunta para quem acha que pode ter algum conselho. Eu vou estar morando na Espanha por 2 meses neste verão. Eu estou tentando descobrir a melhor maneira para eu tirar dinheiro sem ser cobrado taxas ultrajantes. Eu tenho uma conta Citibank e uma conta de perseguição agora, mas eu queria saber se alguém tem alguma sugestão a respeito de outro banco que tem uma presença decente na Espanha (especificamente em Madri) onde eu não seria cobrado taxas cada vez que eu tire dinheiro. Eu sei que o Citibank tem muitas filiais dentro da Espanha, mas eu queria ver o que outras pessoas poderiam ter a dizer. Obrigado!

Cidadão de débito CITI aberto / conta corrente hoje. Assegurado de ATM de Paris, dado endereço. Não é assim, pesquisei e descobri que eles se mudaram anos atrás, mas não estão mais listados. Fui ao CITI on-line, verifiquei o localizador de caixas eletrônicos, sim em 40 países, nenhum na França. Chamado CITI em 800-321-CITI. Representante me garantiu que não tem caixas eletrônicos em Paris. Emptor de advertência.

Eu tenho usado o VISA Charles Schwab (INvest First)

e não houve taxa de transação e nenhuma taxa de forex VISA na China ou na Europa. Eu viajo para ambos com frequência e este tem sido um salva-vidas e saver $ / Euro.

Eu também uso o cartão ATM do First Republic Bank (Veja Rachel Woldelaise e diga: Jason C. Mandou você para a 8th Avenue e irving em San Francisco). Não há tarifas de FOREX e NO ATM em nenhum lugar do mundo. Eu amo isto! Mesmo se o caixa eletrônico disser que cobrarão US $ 3,50, a FRB reembolsará a você. Eu usei isso há mais de um ano na China (Xangai) e Hong Kong, Sydney, Paris, Bali, Londres e Munique e em muitas cidades nos EUA e NUNCA cobro uma taxa! and the exchange rate is only 0.1% (yes 1/10th of apercent) different from the posted rate I see in the newspaper or internet .. and WAY better than at money changers.

the flyerguide now lists HSBC as having a 3% fee, with a link to hsbc’s site which seems to confirm it. looks like that’s not the best option available anymore.

thanks jason chu for the first republic bank recommendation!

Some local credit unions (which are generally much better for service and ethics, anyway) give refunds of ATM fees anywhere in the world, for example, the SF Fire Credit Union in San Francisco.

In China, you can use discover Card. Ask cashier conduct transaction through UnionPay, no transaction fee at ALL.

Trackbacks

[…] my post about the Best ATM or Credit Card For Foreign Travel?, Capital One was a promising option as it had no issuer-based foreign currency surcharges, unlike […]

[…] These are a parody. I am actually a satisfied customer that has used a CapOne credit card for international purchases for several years. But hopefully they’ll realize that bland PR talk does not make […]

[…] And here is the page that talks about Capital One, with several commenters testifying that Capital One is the way to go: mymoneyblog/which_atmcredit. html […]

Diga sua mente Cancelar resposta.

Oi! Sou Jonathan e venho dividindo dinheiro desde 2004. Pai, investidor autodirigido, entusiasta da liberdade financeira e aprendiz perpétuo.

Atualizações diárias por e-mail.

Junte-se a mais de 13.000 assinantes:

Pesquisa no site.

Contact Me.

Categorias.

Categorias.

Conecte-se comigo

Divulgação do anunciante.

Copyright & # x000A9; 2018 MyMoneyBlog. Todos os direitos reservados.

MyMoneyBlog é apenas para fins informativos. Não tome isso como aconselhamento legal, financeiro ou fiscal para sua situação pessoal.

Taxas e termos definidos em sites de terceiros estão sujeitos a alterações sem aviso prévio. Por diretrizes da FTC, MyMoneyBlog tem relações financeiras com os comerciantes mencionados. O MyMoneyBlog é compensado se os visitantes clicarem em quaisquer links externos e gerarem vendas para o referido comerciante.

O conteúdo editorial deste site não é fornecido pelas empresas cujos produtos são apresentados. Quaisquer opiniões, análises, avaliações ou avaliações fornecidas aqui são de responsabilidade exclusiva do autor e não foram revisadas, aprovadas ou endossadas de outra forma pelo anunciante.

Obrigado por apoiar este site de propriedade independente.

Avoid Hidden Currency Exchange Rate Fees and Save Big.

*Please note: As of 09/11/2017 it appears that Chase is no longer accepting applications for the Marriott Rewards Visa. We’ve sent an inquiry to Chase in an attempt to confirm or correct our presumption. We will continue to update this article as we learn more, but for now we can only recommend the Rogers Mastercard and Home Trust Preferred Visa for avoiding foreign transaction fees.

Indo para o exterior? Shopping on U. S. websites? Between commissions, fees, and surcharges, ever felt like you were getting the short end of the stick when exchanging your Canadian dollars? Chances are you were. Most banks charge up to 3% in fees over and above the prevailing currency exchange rate. We found a simple, convenient, bank-beating strategy to reduce your exchange rate fees to 0% – really! GreedyRates. ca has compared the main currency exchange methods available to Canadians, revealing the fees of each. We found that while the initial currency exchange rate is done at market rates, your rate then includes an additional mark-up which can be as high as 9%! The mark-up is then blended into the exchange rate you see on your receipt, so consumers have little chance of figuring out how much the the bank or exchange bureau actually charged. Most Canadians are not aware they can do significantly better.

Are you getting the best currency exchange rate?

What we found was surprising. The best currency exchange rate available to Canadians is the use of a no foreign transaction fee credit card. It offers a near perfect foreign exchange rate. All you get charged is the foreign exchange rate for that day, set by Mastercard or Visa, which is based on the market rates as seen in Bloomberg, Reuters and the Central Banks. There is no additional foreign exchange fee. The worst places to exchange your money? The airport, hotels and your bank branch. The only credit cards in Canada that currently offer subsidized foreign transaction fees on credit card are the Rogers Platinum Mastercard and the Home Trust Preferred Visa. Unfortunately, none of Canada’s largest credit card companies (RBC, TD, CIBC, BMO, Scotia, Capital One, Canadian Tire or PC Bank) offer a credit card without a foreign transaction fee. They all charge a foreign transaction fee of 2.5%, on top of the exchange rate set by Visa or Mastercard. They do the same for debit cards either when making a purchase at a U. S. retailer or from an ATM.

As a result, when using your travel credit card out of country or at a U. S. online merchant, whether it be your Aeroplan, Avion, or Air Miles credit card, you may be earning 1%-2% in rewards per dollar spent, but you’re probably being charged about 2.5% per dollar spent in foreign transaction fees, for a net loss of 0.5-1.5% for every dollar you spend outside of Canada! The lesson? Avoid exchanging your Canadian dollars at the bank, taking out money at the ATM or using a credit card with foreign transaction fees while travelling or shopping online.

The best way to get the lowest currency exchange rate is to use a credit card without a foreign transaction fee. You’ll get the best currency exchange rate, the most convenience and you won’t have to worry about carrying cash in your wallet.

Our favourite Canadian credit card with a foreign transaction fee subsidy is the Rogers Platinum Mastercard:

Unlimited 4% cash back on ALL purchases in a foreign currency Earn 1.75% cash back on all your purchases everywhere else, no caps, limits or categories. Apply your cash back as a statement credit OR to your monthly Rogers bill (Rogers & FIDO), Rogers & FIDO branded stores, and the Shopping Channel. Welcome bonus of $25 in cash back You will never have to pay an annual fee as long as your Rogers bill is set up as a pre-authorized payment.

A close second is the Home Trust Preferred Visa Card. Not an actual bank, Home Trust keeps its juicy foreign transaction waiver a secret, not even displaying it on their website (don’t worry, it’s clearly stated in the terms and conditions). Here’s what else you’ll get from this hidden jewel for Canadian travelers:

No annual fees, ever 1% cashback on all purchases, no matter where and no matter how much Travel benefits such as roadside assistance and liability insurance.

Now that’s a bank-beating strategy!

Article comments.

The FIDO MasterCard also gives 4% for foreign currency purchases (and 1.5% within Canada) and has no annual fee.

Home Trust does not accept clients from Quebec – and the Rogers and Fido cards now include the 2.5% fee on foreign transactions (since july 2017).

Hey Jimmy, thanks for your comment. We’re sorry to confirm that the Home Trust card isn’t available to residents of Quebec, but a comparable alternative that Quebecers are eligible for is the Rogers Platinum Mastercard. You’re correct that it imposes a 2.5% foreign transaction fee–it always has–but this is also why it adds 4.0% cash back for each purchase in a foreign currency.

If I get e. g., BMO US dollar credit card and scan pas or with a Canadian US checking account. What is the best way to get the least amount of transactions fees and the best rates :using an intermediate company like forex or simply going to my bank thanks.

Hey Marie, thanks for your questions. With a BMO US Dollar Mastercard (or a bank account denominated in US dollars) all purchases you make in US dollars, even from Canada, are not subject to transaction fees. You can go to the United States and purchase without fear of being charged extra, or buy from US retailers that ship to Canada. Otherwise, we’re not sure what you mean by an “intermediate company like forex.” If you could elaborate a bit we can reply with a more accurate answer. Forex means foreign exchange, which does not apply in this situation, unless you’re buying in Canadian dollars from the US account or card. In that case, using a bank would likely result in fewer fees, because most retail money exchanges have high rates. You’d have to check with your bank to find out. Obrigado!

I’ve always used Global Transfer Partners for my international payments, check them out for the best rates I’ve ever been able to find.

As everyone else seems to comment, great info. Eu tenho uma pergunta para você.

My son will be attending a school in Vancouver area for one year starting in September, and I live in US. I want to transfer funds to the school to cover his tuition. I just wired a “deposit” and was disturbed to find that CIBC took so much in the conversion process. I think it was somewhere in the 2-3% range, just today. They claim to only take a fee of $15, but the converted funds was quite a bit lower than what the daily rates would indicate should have ended up at the school.

Do you have any suggestions for transferring funds to the school from the US?

BTW, I have traveled in Europe recently using a Chase Sapphire card and they did not charge transaction fees. I got the daily exchange rates as you discuss. I also took cash out of machines using a Charles Schwab Debit card from a USD checking account I setup with them and again, foreign currency with no fees and no loss from daily currency rates. Just sharing.

Hi Donald, thanks for your interesting question.

You’re from the US, so converting any US dollars to their Canadian counterparts will cost a foreign transaction fee. If you equip your son with a Canadian credit card for the purpose of paying tuition, when funding the card from your US account, you will still need to pay a transaction fee.

You may be able to explore getting him an American credit card without foreign transaction fees, but as we only review Canadian cards, we cannot recommend a suitable solution for you. Perhaps look into getting a secondary Chase Sapphire card, as you’ve enjoyed using it, and give it to your son. If you’re able to get approved for a credit greater to or equal than a single tuition payment, this could be an option.

Before ordering your second card however, check with the school in Vancouver to see if this method would work – or if they have alternative suggestions. Obrigado pela leitura!

Would the no annual fee Rogers credit card you mention be an accepted card on PayPal for Canadian sellers on eBay who use PayPal to accept payment? I currently have a Canadian credit card that gets a terrible US/Can rate when the money made from eBay sales is either put on the card or dumped into the bank account attached to the card. When it’s time to move the money from PayPal to my Canadian bank, the PayPal international fees that range from 3.7 to 3.9% of final sale including shipping are bad enough, so any savings on the exchange rate fees when my bank converts would be welcome.

Hey Bob, thanks for presenting us with a very interesting question!

For Canadian eBay sellers who get payments in USD via PayPal, PayPal will inevitably charge a foreign transaction fee, as you mentioned. Officially, this fee is 3.7% for Canadians selling to the US market. There may be no way to avoid this, however, we’re not sure that getting a credit card like the Rogers card will help with the other half of the equation, which is getting the money from PayPal to your bank.

Only purchases made abroad or from foreign online retailers with cards like these are exempt from the extra transaction fees , and adding foreign money to the card or account may not be considered as eligible for this benefit.

Regardless, PayPal is the party charging you the extra 2.5% to convert USD in your account to CAD when depositing to your bank, meaning that you’re charged this exchange rate fee no matter what bank you work with or what credit card you have. You could try looking into opening a USD bank account in Canada, which is easily possible, but when trying to use that money you will run into fees as well. If you have further questions, you could try calling PayPal Canada’s customer support and asking for common solutions. Boa sorte.

Yes, endeavour to open the US$ account with a Canadian bank, it should be possible even with a US resident address. Then to convert from either US-Can-US dollars use a good Forex on-line company, i. e. Transferwise or X-E trading to mention two. However, it will be necessary to open an on-line account first with these companies who typically charge about 0.5%. What most people don’t realize is that you can then transfer funds between the Can and US bank accounts in your name even at the same bank address.

I just wanted to comment on the Chase Amazon visa, which is what I use and think its good No Foreign transaction fee card. Some others mentioned previously they were getting charged what looked like higher rate or the fees. I have not found that in an cases since I have had the card (August 2016). I used it when I went to Europe and now for all my US purchases. In Europe the days I compared posted rate on card was 1.4464 while the posted rate for the day at least on (XE) was 1.4494 , 0.003 difference .

I also have used the XE credit card charge calculator to compare exchange charges vs other cards I use to use (Now obviously this is mid day rates so not your final number but as a comparison tool to other cards), and consistently other cards I used were 3 to 4 % in fees while Amazon Visa is consistently 0.3 to 0.4 for many US purchase and was 0.15 to 0.2 for Euro. Plus the 1% back on all purchases takes care of even the small fees that may be there.

Just my thoughts and opinion but for now this card has my vote for anything in foreign currency.

Also just FYI if traveling to EURO or abroad, and requiring some cash, use a card like this preload it with extra cash and go to no fee atm and take out your cash needed, it only charges 1% cash advance fee or min 5$ ( so take out minimum of what would be 500 CAD) no transactions fees $5 withdrawal fee , cheapest way I have found to exchange smaller amounts of money for Canadians , you will most likely save $20 to $30 compared to at a bank or other converter place.

Thank you for putting up so much useful information here! I definitely learned a lot from you!

I am planning a trip to Japan later this year and read somewhere online that if you use Visa and MasterCard in Japan, they would convert Japanese Yen into USD first then convert into CAD.

Would this double conversion increase the overall cost to convert Yen to CAD if I use my Rogers MasterCard in Japan?

I’m trying to figure out if it is still worth it to use this card wherever possible while in Japan, then converting more Yen at my local bank before the trip.

Thanks for the appreciation. We’re here to help, and think we can offer some insight into how to get the most from your trip.

We’re not sure where you read that purchases made with a Visa or MasterCard in Japan are converted first to USD and then to CAD. Establishments in Japan accept most credit cards and take payment in Yen. We are confident that stores, restaurants, hotels and other places in Japan will make the card convert just once – from CAD to JPY. MasterCard and Visa will apply the standard foreign exchange rate and then any foreign transaction fee that comes with using your card abroad.

On a related note, be sure to let the card issuer know that you will be abroad. This way, purchases will not get red-flagged and access to funds will go uninterrupted.

Enjoy your trip!

Sorry for the late response… somehow I lost this page and just found it.

Thank you for the info, now I’m sure I’ll use my Rogers card with confidence during my trip =)

Continue com o ótimo trabalho!

I’ve just read the T&C from two of my TD Visa cards.

Any other currency outside of USD, Euros, GBP, Austrailian Dollars, or Mexican Pesos, will be converted first to USD, then to CAD.

So it’s a major ripoff.

Hi Jason, thanks for your insightful comment. We’re always pleased when our readers do their due diligence, and encourage you to check out the Rogers Platinum Mastercard if you want a better choice. Its 4.0% cash back bonus when using foreign currencies will cover the 2.5% foreign transaction fee you mention and more. You can learn more about that card by reading our Rogers Mastercard Review, or you can apply for the card directly via this link. Another option would be the Home Trust Preferred card, which accomplishes the same goals when it comes to avoiding extra foreign transaction charges. You can learn more about it by checking out our complete Home Trust Preferred Card review, or you can apply directly via this link. Boa sorte!

Thanks for the great article!

I will be traveling around the world for a year, and now have the Rogers Platinum credit card you recommend.

However, many places I will be traveling do not accept credit card. I will bring some USD cash with me, but sometimes will have to take cash out of ATMs. Do you know of a Canadian bank that does not charge (or rebates) foreign ATM fees? Some of the US banks have this type of account, e. g. TD’s American “Premier Checking” conta.

Scotia is part of the Global ATM Alliance. Use ATM’s in the alliance and you won’t pay a surcharge or access fee. The network seems to be quite extensive throughout the globe.

If you have some bank plans (TD Select, RBC VIP), they will not charge you a fee on their end, but the ATM you are withdrawing from will still charge you a fee.

Espero que ajude!

Some great answers “Greedy Rates.” I’m a simple person trying to get something clear in my mind. I have a RBC Visa, Infinite, Avion credit card. When I use it for purchases in the US, will I have to pay the 2.5% card fee on the exchange plus a bank fee?

Boa pergunta. If you use your RBC Avion Visa Infinite card for a purchase in the U. S. you will only pay the 2.5% foreign transaction fee, plus Visa’s foreign exchange rate (which has a small fee embedded in it).

However, if you use your RBC Avion card for a cash advance, you’ll pay the 2.5% foreign transaction fee, Visa’s foreign exchange rate, RBC cash advance fee and in all likelihood the ATM’s withdrawal fee.

Espero que ajude,

Hello GreedyRates, I need your advice regarding the US-Canada currency exchange. I expect to earn in US funds to be deposited in a US bank account. Those funds will be used to pay Canadian bank loan on a bi-weekly basis. Could you please advise as to what would be the best approach for me to obtain best exchange rate and save on currency conversion fees? Thanks for your guidance and advice.

Your best bet is to get a few quotes and determine which is the lowest cost and most convenient provider for you. You should probably check out Knightsbridge as well as the online exchange rate with your retail bank – this can be especially advantageous if you have a cross border account with TD or RBC.

Espero que ajude,

Thank you GreedyRates.

Sorry for the delay in replying.

I came across your site while searching for currency converters. Thank you so much for the help.

I’m looking at a property in Florida. What is the best route to take for converting currency for a large purchase like this? I’m getting different amounts and percentages depending on the site I go to.

For a large sum like that we’d suggest you get multiple quotes from different providers. We’d suggest getting quotes from Knightsbridge, Canadianforex. ca, and Xe. Once you have the three quotes, we’d suggest asking your branch manager to get a custom quote from their foreign exchange desk to see if they can match or beat the best quote you were offered from the first three.

Espero que ajude,

Interesting and very informative website you have.

Please correct me if I am wrong on my understanding. It seems that in Canada if I have a ” no foreign transaction fee” credit card (Rogers or Chase) My foreign currancy exchange rate will be set by either Visa or Mastercard @ “Interbank/Spot Exchange Rates” or whatever the exchange rate is for a particular foreign currancy for that particular date and time of the transaction, without additional fees included, so that I will receive the cheapest or near cheapest exchange rate possible, without fear of incurring hidden bank fees in Visa/Mastercard exchange rate fees.

Please respond to my query, as I am trying to figure out the cheapest way to travel in Europe without incurring additional charges that need not be.

I am sure you have answered this question above, but for me to understand, I need you to answer my question in the form it is written.

Big fan of yours (you must get that all the time)!

1. Correct, Visa and MasterCard set the foreign exchange rate.

2. Our research indicates the networks set it pretty close to the “Interbank/Spot Exchange Rates” but not exactly at it. Over 52 testing periods, MasterCard averaged 58 basis points (.58%) over the Bloomberg spot rate and Visa was 98 basis points (.98%) over the Bloomberg spot rate.

3. As a result, a card with no foreign transaction fees, will typically be cheaper than most if not all other currency exchange alternatives available to an individual.

4. To be clear, while the Rogers card offers 4% cashback on foreign purchases, it does charge a 2.5% foreign transaction fee. However, the net rewards rate ends up being 1.5% cashback (4% cashback – 2.5% FX fee = 1.5%), versus the Marriott card which offer a 1% net rewards with no foreign transaction fee (1% rewards – 0% FX fee = 1%). As a result, we believe the Rogers credit card offers the best FX value in the Canadian marketplace.

Espero que ajude!

Hi, Just read that the SnowBird Association offers Canadian dollars send to your US acct, at preferred rates.

Have you heard of this, and are rates competitive?

If you need U. S. cash, the Snowbird association, will typically provide better rates than your retail bank. However, there are two caveats. First, we still think a no foreign transaction fee credit card or a card such as the Rogers MasterCard which subsidizes foreign transaction fees with 4% cash back on foreign purchases, offers better exchange rates. So if you can use a credit card, you’re better off than using the cash.

Second, we do know that if you’re transferring larger sums, and let your bank manager know of the quotes you received from the Snowbird Association or Knightsbridge, they may be willing to match it. Also, note the the Snowbird Association has a $25 annual membership fee. So just make sure you’re transferring enough each year to make the savings worth your while.

Espero que ajude,

I just checked out the terms for the Rogers Mastercard and found this:

“All transactions made in a foreign currency are converted to Canadian dollars at the rate established by MasterCard International in effect on the date that we post the transaction to your Account (which may not be the same date as the date of the transaction plus an amount equal to 2.5% of the transaction amount after it has been converted to Canadian dollars.”

It looks like it is just like every other credit card in Canada with the 2.5% conversion fees.

The Rogers card offers more value on foreign purchases than either the Amazon or Marriott cards. First, Rogers offers 4% cash back on all foreign purchases. When you deduct the foreign transaction fee, you’re left with net 1.5% cash back (4% cashback – 2.5% FX fee). If you use the Amazon card, which offers 1% cash back and no foreign transaction fee you’re left with net 1% cash back (1% cashback – 0% FX fee). The Rogers card comes out ahead.

Hopefully this clarifies why we recommend the Rogers MasterCard for foreign purchases. Rogers is just subsidizing the foreign transaction fee with its high cash back rate on foreign purchases, but is still offering more value than any other credit card alternative in the Canadian marketplace. So in fact, they’re not like any other credit card in Canada – even better than those who simply removed the foreign transaction fee.

If you have a credit card with 2.5% fee foreign exchange fee and the currency is not in US dollars like Nzd for instance, is the 2.5% applied twice? The first time when converting Nzd to Usd and the second time when converting Usd to Cad? Muito obrigado.

You only get charged the foreign transaction fee once, regardless of whether you’re converting US to CDN or NZD to CDN. It doesn’t matter whether the US Dollar is used as the peg currency or not.

In fact, as far as we know, every credit card issuer uses the US Dollar as the peg currency when switching an intl currency to the Cdn dollar. Some just articulate it in their disclosures while others do not.

Ótimo artigo! I was surprised to see no mention of major Canadian Banks US Credit Cards as a solution to the exchange fee issue. What is your opinion on the CIBC US Dollar Visa card along with using a US Dollar bank account. Would this be a viable alternative? Buy US funds when the US currency is favourable, deposit into the US account, and spend using the US Visa while in the US. Payoff the US Visa card balance with the funds pre-purchased at a favourable rate. I would like to hear opinions on this method of saving on exchange fees – any info would be appreciated. Obrigado.

If you already have US Dollars, or earn American dollars, a US Dollar currency card is a good alternative. However, if you’re exchanging Canadian dollars to US dollars, to pay for purchases on your US dollar card, it’s likely a more expensive strategy than using a credit card with subsidized foreign transaction fees.

The reason is because when you convert your Canadian dollars to US dollars at the bank or exchange bureau, you will be charged a fee on top of the spot rate. However, the fee is not separated from the exchange rate provided. In general, that fee will be in the 2.5% to 3% range at a Canadian retail bank, when exchanging small sums in branch. When using a credit card with subsidized foreign exchange fees, you will be paying substantially less.

Moreover, not only will you be avoiding the 2.5%-3% exchange fee margin, you’ll ALSO be earning rewards. As of right now, no Canadian US Dollar cards offer a competitive rewards program, if any at all.

Hope that was clear and helpful,

2 & # 8211; 3% bank fee . I wish. I opened a U. S. bank account and a U. S. Mastercard to avoid the 31% I paid on my last purchase using my regular Mastercard. You didn’t read that wrong. Exchange and bank fees amounted to over 30%. Learned that I hadn’t saved a penny when I went to transfer money from my Canadian funds account into the US account to pay fr a purchase and they wanted the very same 31% bank fee to cover the transfer. BMO is a rip-off and I’m not sure any major bank is any better.

Obrigado pelo feedback. Any chance you can share with our readers how your effective exchange rate (rate, plus fees) added up to 31%? It would be helpful to all of us.

Thank you so much for the fantastic article! I’m going to be ordering one of these foreign fee recommended credit cards for travel ASAP, however I won’t be able to receive it in time for my trip this weekend. I have a few questions:

1) Until I get the card, do you suggest exchanging currency at a place like International Currency Exchange or a local bank?

2) When travelling to countries such as England, would you suggest exchanging currency in Canada or in England?

3) Once I get one of these credit cards, what do I do in a situation where credit card is not accepted at a merchant in a foreign country? Would you use the Rogers Mastercard or Marriott Visa to exchange currency at a foreign bank?

4) Why does GreedyRates recommend the Rogers card over the Marriott card? It seems that with the 1st year waiver and 30,000 points, it is a great churning opportunity?

Obrigado pelas palavras amáveis!

1. I would get quotes from 3 places. We actually bring a quote to our branch manager, who then calls in the foreign exchange desk to see if they’re willing to match it. They match it every time. You get the best price and it saves the inconvenience of having to work with an exchange bureau.

2. Always better to get some quotes and do it domestically. When your overseas it’s difficult to get options, and you do not want to get stuck exchanging money at the airport, hotel or tourist area – that would be worst case scenario.

3. You might be better off ensuring you bring some foreign cash with you for those eventualities. Doing a cash advance is also expensive, given that you will be paying a cash advance fee, plus incurring interest right away. If you do a cash advance, you will be charged $5, so if you take out $100 that’s a 5% fee. You’d be better off planning ahead and paying 1.5% to 3% exchanging money at the bank.

4. Both cards are great. In fact, if you’re into churning you could get both cards. Ultimately we chose the Rogers card because it has no annual fee, you earn 1.75% cashback on foreign spend, and the cashback is worth something to everyone. Although Marriott has a phenomenal welcome bonus and first year fee waiver, it’s rewards on spend is not as rich, and because points are restricted to marriott, we felt it had less universal appeal (that said, we love the card, and if you do find free hotel nights appealing, it’s a great card to churn, especially with a no risk first year fee waiver).

Espero que ajude,

Extremely helpful. Muito obrigado!

Sorry one more question! With the Marriot Rewards card, I believe the current offer is 30,000 points after first purchase. In the past, there used to be an offer with 30,000 points plus 1 free night after approval. Does that not exist anymore?

Also, are there any extra taxes on top of redeeming points for a free night? Or is it 100% free?

You get 30,000 points plus a 1 free night anniversary certificate, every year. Always been like that as far as we know.

Somebody already asked this question but unfortunately there is no answer posted. I have some inheritance money in British pounds due to me. It seems the bank fee charged on the last one was extreme and I’m in the process of checking it out. What can I do to get a better exchange rate? Is there anywhere to go that would be better? Or is there someone to whom I can launch a complaint? Their ‘fees’ seem to be shrouded in secrecy.

The alternative is to get multiple quotes from foreign currency exchange shops like TransferWise, CanadianForex, XE Trade, NorthStar, International Currency Exchange, and Knightsbridge Foreign Exchange.

You can also take a quote you’ve received online and bring it to your branch manager. See if they’d be willing to calling into the banks forex department and give you a matching or better rate. If they’re willing it makes life easier for you.

The key is to get multiple quotes so you know you’re getting the best rate available.

Espero que ajude,

BitGold is an interesting approach to reducing the exchange rate. If I understand it correcting, it is 1% on buying gold and 1% on converting the selected gold value to any currency of your choice.

Since most people who invest have a brokerage account there is an ETF on the TSX to do the conversion of Can$ to US$ and vice versa.

Purchase DLR on the TSX from your Canadian cash account. At the same time, sell the DLR. U from your US$ cash account.

The DLR. U is the same as the DLR, except it is US$.

On settlement date in 3 business days you will have the US$ in your US cash account to transfer to your US$ bank account…

This also works in reverse.

Only cost is two buy/sell orders, in my case $19.98.

I will be receiving an inheritance in British pounds (GBP) and wish to convert it to Canadian dollars. Since it is a very significant amount (>100K pounds), it is imperative that I secure the best rate possible in order that I don’t leave a large amount of money “on the exchange table”. What suggestions would you have for securing the best rate?

Went to US yesterday and shopped at the duty free store using the Amazon Visa, the exchange rate is 1.30, but it charged my at 1.34, a 3% margin, isn’t the foreign transaction fee be waived using Amazon visa ?

That’s strange because when we checked Visa’s exchange rate for the day (on the 19th & 20th), the exchange rate was set at 1.304370. Not sure how Chase can be charging you at 1.34? Yes the foreign transaction fee is supposed to be waived for the Chase Amazon Visa. I’d call Chase and let them know you checked the Visa exchange rate calculator, and you’re not sure how they’re coming out to 1.34 when Visa comes out to 1.304370.

Let us know what happens,

Shawn, I had the exact same complaint. I charged an item for $1.00 US on my CIBC Visa and it came back at $1.38, and then charged the same item to my Amazon VISA. Same thing as CIBC. I left a review on Amazon. ca pointing out this discrepancy. Chase needs to be called on their bait-and-switch.

No immediate question…. after reading article, and the comments and responses….

but wow. Informative and helpful site!

Love the Q&A! My son will be going to a US prep-school in the fall and I am looking for the best option of exchanging Canadian to US funds to pay for it. Do you have any recommendations of making the most of the money exchange so I won’t be hit so hard?

We’re going to assume you earn in Canadian dollars. The first question to ask is whether your son’s prep school accepts their tuition via credit card. As a private school, they very well may. If so, use a no foreign transaction fee credit card to pay for the tuition – that will give you the lowest exchange rate. The credit card will convert your US dollar purchase to Canadian dollars, close to, or at, the spot rate, with no additional exchange rate fees or margin. Then you’ll just pay your bill in Canadian dollars.

If your credit card does not come with a sufficiently big enough credit line to pay for the tuition, either iteratively break up the tuition payments and repay your credit card each time, or see if the credit card company will temporarily grant you a larger line for a big purchase.

If not, the best thing for you to do is to exchange your money through a company like KnightsbridgeFX. You can also take your quote from Knightsbridge and see if your branch manager can match it by calling into the FX desk of the bank – saves you the trouble of applying through Knightsbridge and transferring funds.

Espero que ajude,

HSBC debit cards have no 2.5% fee on foreign transactions. They are the only Canadian bank to do that now that Citibank is gone. Also, if you can find an HSBC machine (which are in many countries), you can avoid the $3? fixed withdrawal fee. And note that if you withdraw cash from an ATM with any credit card, you have to pay the cash-advance fee, about $7?.

Just remember, you cannot use your HSBC debit card at foreign merchants, either face-to-face out of country, or on the internet. You can only use it to withdraw cash at an ATM in a foreign country. Given that, why wouldn’t you use a credit card that has no foreign transaction fee, allows you to earn points, offers you warranty, purchase & fraud protection and MOST importantly allows you to make the purchase!

Moreover, while HSBC confirmed to GreedyRates that they do no charge a foreign transaction fee with their debit card (this comment is not referring to credit cards), they were less transparent on where they derived their conversaion rate from. HSBC specifically said they used the conversion rate provided by the “governing bank” of each country. It would be interesting to compare HSBC’s governing rate to that of the networks (VISA, MC), to see if it comes in at the same, lower or higher rate.

Thanks for the observation.

Will any of the major banks waive the foreign currency transaction fee on the credit cards (BMO, TD, or even AmEx) if you call them to advise you are travelling internationally? Maybe a one time offer?

We’re planning a trip to Europe and I’ve had a couple of people tell me to do this. Is there any truth to it or would I be wasting my time?

Thanks for all the great information you post – extremely helpful.

We haven’t seen a bank agree to that. However, your question peaked our curiosity! So we just called TD, CIBC & American Express to see if they could or would waive the foreign transaction fee while we were ostensibly on “vacation” nos Estados Unidos. None were willing or able. They all said it wasn’t an option in their operating system, if they wanted to. That said, it’s always worth a try.

If your bank does agree to waive your FX fee, please let us know so we can share with our readers!

Hi Greedy Rates.

I have an account in Germany with around €50,000 in it. I’m looking to get it transferred / converted into Canadian Dollars.

What’s the cheapest way to do it?

You have a couple of options. We usggest you get multiple quotes, more or less at the same time, to see which one gets you the best rate, with the least fees:

1. If you have a brokerage account, see how much it charges for currency conversion. Brokerage accounts tend to offer cheap conversion options for high dollar amounts.

2. Check a few of the larger exchange houses (xetrade. knightsbridgeFX)

3. Check currencyfair, which allows you to exchange currency and transfer money internationally through P2P.

In the end, you ay always want to take the best rate you get, bring it to your branch manager, and see if they can call their FX desk and match it. If they’re willing to, it may be more efficient.

Espero que ajude,

What if we pay by PayPal, with a credit card, foronline US shopping?

Ótima pergunta. If the transaction is in USD, PayPal will convert the USD to Canadian dollars, collect a 2.5% foreign exchange fee. They will then charge your Canadian credit card the converted Canadian dollar amount. Because PayPal controls the transaction, they astutely convert the currencies themselves before it hits the creidt card and keep the 2.5% margin for themselves as well. As a result, if you’re are using a no foreign transaction fee credit card, it will be waisted if you use your card through PayPal.

The workaround on this, is obviously to use your no foreign transaction fee credit card directly, without going through PayPal. Truthfully, not that big a hassle.

Thanks for a great question.

Muito obrigado! Ótimo site.

You can get a U. S. dollars visa from TD as well. If you have a U. S. dollars bank account and purchase a lot online from the U. S. or travel to the U. S. a lot it could be a good option. I do a lot of business online in U. S. dollars and by my rough calculations was losing $600-700 in exchange fees per month!

Yo bring up a point we think merits additional comment. What’s better, a U. S. Dollard credit card, or a no foreign transaction fee card? If you earn U. S. dollars, it obviously makes sense to have a U. S. dollar card. However, if you earn Canadian dollars, a no foreign transaction fee card will save you more.

The reason is because, if you get a U. S. dollar card, you will first have to convert your Caandian dollars to U. S. dollars. You will typically do so at the bank or through an exchange service. When doing so you will be charged a fee, over and above the interbank/spot rate. That fee will be included in your exchange rate. Typically it will cost from 1.5% to 3%, depending on where and how much you exchange, if you do it with your bank. You will then use those US dollars to pay down your US dollar credit card bill.

However, if you use a no foreign transaction fee credit card, your Canadian dollars will be converted by MasterCard or Visa at the interbank/spot exchange rate, and their will be no additional fee/margin on top of it.

Plus, most US dollar cards either earn you no rewards, or minimal rewards. Whereas, you will earn substantial rewards with all of the no foreign transaction fee credit cards (Rogers – 1.75%, Marriott, Amazon)

That’s why a no foreign transaction fee credit card beats a US dollar credit card everytime. The only exception would be if you earn income in US dollars. In that case, a US dollar card makes sense, because if you used a Canadian no foreign transaction fee card, you’d have to convert your US dollars to Canadian dollars (incurring a fee), to pay your Canadian credit card statement.

Isso faz sentido?

I’m curious about the last paragraph. I earn USD and currently use a TD USD Visa. I use my regularly earned USD to pay that bill each month. I also have an Amazon. ca Visa and am wondering if it might actually make more sense to use that card (or the Rogers MC) for those purchases despite the fact that I earn USD but I can’t seem to make total sense out of it. I currently exchange USD to CAD but hold on to.

$1000/mth to pay my USD visa. The exchange is done through TD borderless account so I know I’m not getting the best exchange rate. If Amazon. ca VISA uses a rate that’s close to the spot rate + I get 1% cash back, does it make more sense for me to make my US purchases on my Amazon. ca Visa rather than on my TD USD Visa that has no rewards?

Hey Vicky! Awesome question, and the answer is yes – it would be beneficial for you to make purchases in, or from the US with your Amazon. ca credit card. This and the Rogers™ Platinum MasterCard® card have no foreign currency transaction fees, and when you consider the 1% cash back bonus, plus an exchange rate that is close to spot, it becomes much more valuable than using cards without similar benefits. Hopefully this answers your questions!

From the discussion, it seems TD debit card withdrawalsf in Mexican pesos,]

there is a ATM (HSBC) machine fee + 2 1/2 % exchange fee + the rate of exchange charged by Canadian bank. Isso está correto?

In other words, if I need to change $150,000 CDN to Mexican pesos, what is the best strategy. I have an Intercam account in Mexico.

In the case of TD, if you don’t have an All inclusive account, you will be charged $3.00 CDN per withdrawl at a non-TD ATM in Mexico by TD, plus whatever HSBC charges you for the use of their ATM. It can easily be up to $6 in flat fees per withdrawl.

In addition, you will be charged for the foreign exchange by TD as follows:”For Debit Payment purchases at merchants outside of Canada who accept Visa Debit, the transaction amount will be converted to Canadian dollars based on the foreign exchange rate charged to TD Canada Trust and will include an additional fee equal to 2.5% of the converted amount. For NYCE® Debit Payment purchases, included in the currency exchange cost will be a conversion fee which is calculated by adding an additional 250 basis points to the interbank U. S. dollar exchange rate. For example, on a purchase of $10 U. S. with an exchange rate of 1.3 the transaction amount will be $13.25 CDN ($10 x 1.325). Deposit transactions are free.”

In our opinion, there are two ways we would recommend converting your Canadian dollars to Pesos. First, for those merchants accepting credit cards, use a no foreign transaction fee credit card (Rogers, Marriot, Amazon). You will only be charged the foreign exchange set by Visa or Mastercard, which is better than anything you will be able to achieve on your own. The other advantage is, you want have to pay any ATM fees to access your cash.

Secondly, to pay merchants who require cash, we would recommend you get multiple quotes from TD (speak to a branch manager and get a quote from the foreign exchange desk), HSBC, Knightsbridge (only charge .5% fee above the spot exchange rate), or another foreign exchange office. We would then recommend opening a Mexican HSBC account, and putting your Pesos there, so that you can withdraw your cash requirements fee free (since TD does not have ATM’s in Mexico). It makes no sense to pay $3 to $6 everytime you need cash. Withdrawing $100 at a time, it’s a 3% to 6% fee just to get your money.

Walter does that make sense to you? Foi útil?

Muito obrigado por este post. I have an expensive surgery in the US this spring and have been watching the live currency chart religiously for awhile now. Finally pulled the trigger to pay half of it after seeing the terrible 1.46 rate last week.

Noticed that the USD to CAD closed at 1.409 on Jan 27 but on my stupid RBC credit card I was billed on Jan 27 for 1.4509. 4% higher… which is tons of money when we’re talking thousands of dollars for a low income person. Sigh, just sent an application to Rogers, was rejected from Amazon already.

The Canadian Chase/ Marriott VISA Card does not charge the extra 2.5% on top of the International Visa exchange rate. I use it daily in the USA. 2.5% less than my RBC Avion Visa. The Chase card also accumulates points. There is $100 yearly fee. Yearly one gets a free one overnight in any 1 to 4 or 5 category Marriott Hotel.

Todays exchange rate for the Canadian Chase/Marriott Visa today is 1.41 and 1.44 for the RBC Avion Visa.

Scotiabank has now taken over the Sears/Chase MasterCard. It is the Scotiabank Momentum card. I just got my replacement card for the Sears card. It still has the same card number and I’ve used it 4 times since I received it.

It works well, just as the Chase/Sears did.

Great to hear the portfolio conversion is going well for former Sears MasterCard holders who have been converted to Scotia’s Momentum Visa card. That said, previous and NEW Scotia cardholders will not have their foreign transaction fees waived. Only those who were converted from the Sears portfolio.

Bom artigo. Obrigado.

Are you aware if casinos in the US offer better exchange rates on using Canadian cash to purchase US cash? I do know that many casinos in Canada offer better rates for exchanging US to Canadian, but I am not sure if this is the same in the US.

Great thought! We haven’t done a study, but we can say that some, such as the Grand Casino in Vegas have tried to lure Canadian gamblers with “par” deals at the slots if you stay at the hotel, and other casinos do offer attractive rates when buying chips, for obvious reasons.

You Guys are best advisors than big banks have, very knowledgeable indeed.

I have Us account and have some money sitting in it.

Is it good time to convert it into CDN?

From where I can get best rates?

Do the banks charge any fee on conversion of currency?

Thanks in advance for your time.

Obrigado pelas palavras amáveis! We’re not currency experts, but the loonie has not been this low since 2009. If you look at historical charts since 1976, the dollar has not been this weak very often. However, some people prefer converting their currency over time i. e. X$’s per week or month, so they don’t rely on one days timing. Timing the market perfectly is hard, but you can at least rely on the fact that now is a historically good time.

Yes banks do charge a fee for converting your currency. However, the do not publish the fee. The fee is baked into the exchange rate they offer you. To get the best rate call around – never use the rate you’ll get with the teller. I would focus on a few specialized shops like Knightsbridge, XEtrade, TD Borderless account online exchange. Then speak to your branch manager and see if they can call their foreign exchange desk and match your rate. If yes, it makes things a lot simpler. If no, choose the cheapest and most convenient alternative.

Thanks for providing me such useful practical knowledge. Wish You guys Grow and prosperous.

Hi greedyrates, great article.

just wondering, if i use my amazon chase visa to take out cash, wouldn’t there be a transaction fee?

There would be a cash advance fee if you withdrew money from a foreign ATM (greater of 1% or $5, and you start incurring interest right away), but there would not be an additional foreign transaction fee (typically an additional 2.5% – plus the exchange rate).

Hope that answers your questions!

i guess i can eliminate that cash advance fee if i overpay my account balance, right?

Actually it’s a little dicier than that, and it depends on the issuer. You may get charged the cash advance fee, but not the interest. After all you’re using the cash advance function, but the loan itself is being paid down immediately, so no interest. Or you may get charged the fee and the interest (but only for a day or two), or you may get charged nothing at all. If you use your card for purchases during that time period, in addition to cash advance, you may get dinged the cash advance fee.

Some issuers may put a hold on your card if you constantly overpay, leaving a credit. It’s a tactic used by fraudsters to launder money. Although it’s usually larger sums that are flagged.

GreedyRates, you are providing extremely valuable information with this site, please keep up the great work! It’s also awesome that you take the time to reply to individual comments/questions. I have a question related to your discussion with Kevin.

My goal is to minimize any fees related to acquiring foreign currency. From my research and understanding, I think the following would be one of the most economical ways, but have some questions for clarifications.

Step 1. Overpay, in advance, the Amazon credit card balance by the amount of the withdrawal I want to make. Say $500.

Step 2. Withdraw this amount from a foreign ATM. I pay a $5 cash advance fee and this is basically the only charge I incur (ignoring the local ATM operator’s own fee, which is inevitable as far as I’m aware and thus not worth trying to minimize).

Q1: I pay essentially zero interest, correct? Either I am charged no interest because my card balance is overpaid or I might pay 1 day of interest which is basically nothing (19.99%/365 days * $500 = 0.27 cents).

Q2: Is it certain that the zero foreign exchange fee that applies to regular foreign currency purchases will also apply to this foreign currency cash advance? No traps here?

Q3: What percentage of the credit limit are cash advances typically allowed to be? I’ve heard they can often be much less than your credit limit? Would withdrawing several hundred dollars (I’d probably withdraw $200-500 at a time) pose any issues? Similarly, you mentioned the anti-money laundering issue if you frequently overpay your credit balance by a lot…do you know if a few hundred dollars is low enough for this not to be an issue?

From what I can tell, there is no way to avoid the typical 2.5% foreign exchange fee when using a bank’s debit/ATM card which is why I think the method above using a credit card that does not charge this ForEx fee might be the lowest-cost method. A $500+ withdrawal is the optimal amount because the cash advance fee is only 1% (any amount lower will be less economical because the cash advance fee is a minimum $5). The only competitive option when withdrawing smaller amounts may be leveraging the Scotiabank Global ATM Alliance because you can avoid the local ATM operator’s fee as well.

Does all this logic seem sound? Or am I missing something? If you’re lucky, as you mentioned, and the issuer doesn’t even charge the cash advance fee because you have overpaid your balance, this method would appear almost hands-down the best way to get foreign currency abroad (although I think it makes sense that the cash advance fee would apply since you are still undertaking the cash advance transaction).

Thank you again for such a great site!

Great question and thinking. Thanks for the kinds words about GreedyRates!

We called and verified with Chase Canada. There is no foreign transaction fee on cash advances. Furthermore, you can pre-pay your account, however, you will still be charged a 1% cash advance fee, or $5 per advance, whichever is greater. You will also be charged interest from the time of your purchase to the time it gets posted – usually 24-48 hours (but like you said that’s not much).

1% is not insignificant, and $5 is very significant. If you do a $100 cash advance that’s the equivalent of a 5% fee. Do a $200 cash advance, it’s the quivalent of a 2.5% fee.

However, if you take out a cash advance of $500 or more, you’re fee will be 1%, which is obviously better than 2.5% foreign transaction fee.

The best option would still be to use your no-foreign transaction fee credit card wherever possible. If a merchant does not accept credit cards, your option of doing a cash advance, with immediate repayment is a good option, but only if done in increments greater than $200 ($200 is the breakeven, where the min cash advance fee of $5 equals 2.5% – so anything higher would equal less than 2.5%, making it a better option than withdrawing cash at the ATM with a 2.5% fee).

Isso faz sentido?

GreedyRates, just following up on your reply (I couldn’t reply directly to it because my original post and your reply do not have a reply button…odd?).

Yes, that all makes sense and thank you very much for answering my questions. Definitely agree that making purchases with the credit card wherever possible is the best case scenario, but having cash is necessary for a lot of things. So seems like this card is a winner for both methods!

Now I’m just hoping that the cap on how much they allow you to withdraw as a cash advance isn’t prohibitively low.

Just a follow up question to this thread, assume I have an Amazon. ca rewards VISA and withdraw the equivalent of $500 Canadian in foreign currency from a foreign ATM. I also already have a balance of $500 on the card from purchases I made in stores in the past few days. Based on my interpretation of the Terms and Conditions, if I were to place a $500 payment onto my VISA immediately after making my $500 withdrawal, the payment, when posted, would be applied proportionally to my existing balance and my cash advance balance (in this case a 50/50 application). So in order to avoid paying interest on my cash advance I’d immediately need to pay off my entire balance, correct?

Está correto. That is why it is so important to either pay down your cash advance balance immediately, or pay down the entirety of your balance at the end of every month. Funny enough, prior to recent regulations, banks used to allocate your payments to your low interest balances first, maintaining the entirety of your higher interest balance until the low interest balance was paid down. At least things have improved somewhat.

Thanks for the quick reply! Just to clarify, in the scenario I outlined above, assuming I had paid off my balance on time, and had recent charges that would be included on my next statement, my balance would be considered zero for the purposes of allocating a payment. Or would my payment still be applied equally against my recent purchases (for which I have not yet received a Statement) as well as my Cash Advance?

We’re not positive, but believe that if both balances originated prior to your statement, then any repayment could be applied proportionately, even though only one of those balances might be incurring interest. Unfortunately, Chase’s disclosure is not clear on the matter, and we’d assume, rightly or wrongly, that if it’s ambiguous, it works in their favour.

Here’s what their disclosure states “For any account statement where different annual interest rates apply to different amounts billed and owing on that account statement, any payment by you that is greater than the Minimum Payment set out in that account statement will be allocated among those amounts in the same proportion as each amount bears to the outstanding New Balance on the account statement. We reserve the right, subject to applicable law, to change the order in which we apply payments without notice to you.”

My husband and I are living in the U. S. We are retired and receive a Canadian Pension and Old Age Pension which we receive through Scotia Bank. The exchange rate now is very hard on us. Can anyone suggest a way we can get around this. We lost almost $500.00 in December because of the high exchange rate.

if you are paid 100% in CAD and spend 100% in USD when the CAD is 20% lower than it should be because OPEC wants to harm competing oil producers, then you’re evaporating 20% of you’re paid. the only way around this is to stop spending CAD on USD while the CAD is bad.

Probably not the smartest question asked but I can’t wrap my head around this. xe : to buy 1000 can is @ 700 us but to buy 1000 us is @ 1400 can. Should it not by approx 1300 with a 70cent dollar?

Actually a VERY smart question! One we had ourselves – you wouldn’t believe the answers we got from supposedly people in the “know”. The answer is actually based on pretty simple math. Using your example, if we wanted to take the $700US you received, from the $1,000CDN and make it $1,000CDN again, we would need to apply an exchange rate of 42% (1,000-700)/700. However, going from $1,000CDN to $700US is only 30% (1,000-700)/1000. You have to change denominators. So even though the exchange rates are different, the nominal amounts, when going back and forth using those rate, should be equivalent. Isso faz sentido?

Very interesting article, greedyrates. I have a question, though: Is there any one I can speak to in Canada, like an Ombudsman or consumer group, to complain about an obscene exchange rate that I was charged? Is there a legal cap to the rates and additional exchange fees that can be charged? Today I used a Mastercard Rewards cash card that I received from my employer as a bonus for my years of service. I put $1000USD toward a cruise that I had purchased and it came to $1629.26. That’s an effective exchange fee of over 15%. Even if I add a typical 2.5% FX fee added as shown above, both the VISA and MASTERCARD calculators gave me a calculation of about $1450. It seems to me that the rate I was charged is highway robbery. Do I have any recourse? Desde já, obrigado. Andy

You can always use the complaint process outline by the FCAC here. They usually want you to try to resolve the issue with the issuer of the card first.

If you’d like you can send us your cardholder agreement and we can have a go at reviewing it ourselves. If you don’t have the cardholder agreement, you can give us the name of the issuer (on the back of the card) and the name of the card and we should be able to find the cardholder agreement. Also please send the date on which the transaction was posted and made. that will allow us to determine what the issuer committed to charging you in the first place, and what you ought to have been charged that day.

If we find something obviously wrong, we can recommend alternative recourse.

Look forward to it Andy.

Thank you, greedyrates, false alarm. After further “processing” and without any complaints from me, they actually charged me an exchange rate (dated Jan 11) of 1.42 plus the 3% that the cardholder agreement shows as their foreign exchange fee. Maybe they take a bit extra at first until they can fine tune the charges. So, I guess I’m good. But I’m glad I found your website anyway for future info.

Regarding Gavin French’s inquiry of November 17th – i. e. Does the “no foreign conversion fee” amazon. ca VISA still include a 2.5 % fee by using VISA international exchange rates? & # 8211; the GreedyRates Staff did not reply. Do you have that information? Also in the article on ‘Avoiding Foreign Currency Fees’ you mention that Chase Canada has a no foreign conversion fee but as Chase is leaving Canada do you know if anyone will fill that gap?

Thanks for the kind words about GreedyRates! Please see our reply to Gavin French below. The quick answer is no, VISA does not have a 2.5% fee embedded in the rate it charges to the banks. You can actually see what exchange rates VISA has charged on any given day, between any two currencies here usa. visa/support/consumer/travel-support/exchange-rate-calculator. html/ .

First, it’s important to note, Chase has decided to leave the Sears portfolio behind. They haven’t left Canada yet – although it’s a pretty good assumption. But no need to switch your Amazon or Marriott cards yet. Second, Rogers MasterCard is the only other card that we know of that does not charge foreign transaction fees.

Look at the new terms on Roger’s credit card. They are ending the free rate conversion and adding a 2.5% fee. The exchange ride is over with them!

Rogers is still offers the best value on foreign purchases of any credit card in Canada. You will now be earning 4% cash back on foreign transactions. So in effect you will earn 1.5% cash back on foreign transactions with the Rogers MasterCard, when you net out the 2.5% foreign transaction fee. That’s still better than the Amazon card where you will only net 1% cash back on foreign transactions.

Espero que ajude,

What’s the CAN $ rate in India rupees today ??

GreedyRates does not provide foreign exchange quotes. Desculpa.

I see the following in Scotiabank’s website regarding foreign ABM usage:

“Foreign currency withdrawals from international ABMs will have their foreign currency exchange rate determined by VISA International on our behalf. A conversion fee equal to 2.5% of the converted amount is included in the exchange rate.”

They make reference to April of 2004 and say the VISA rate INCLUDES a 2.5% conversion fee. Is this fee embedded in all VISA rates and then added to by banks? Does the “no foreign conversion fee” amazon. ca VISA still inlcude a 2.5 % fee by using VISA international exchange rates?

We can’t find the reference you quoted above. If you could provide a link that would be great. That said, with respect to credit cards, we did place a few calls on your behalf and confirmed that Visa charges the banks a “wholesale rate” determined by “market participants” which should be “favourable” to cardholders, without charging a surcharge. In several notable Canadian class acion cases, it was revealed that the banks charge their 2.5% on top of the “interbank” rate, which is typically only available between financial institutions. That seems to also suggest Visa is charging a “wholesale” taxa. Only the banks are charging or not charging a foreign transaction fee.

Hopefully that helps.

I just spoke to Scotiabank yesterday and the agent confirmed that a 2.5% rate is charged in addition to the exchange rate on credit card charges.

Scotia, like the other big 5 banks, all charge 2.5% foreign transaction fees over and above the exchange rate on non-Canadian currency purchases. As far as we know, Chase and Rogers MasterCard are the only two Canadian issues not to charge a foreign transaction fee.

Note, the reference is with respect to ABM cash withdrawals, not credit card usage. But the issue is the same as they reference the VISA international exchange rate and the fact that that rate itself includes a 2.5% fee.

Is there any way to get US cash in Canada from a Chase Visa card?

I tried CIBC’s US cash dispensing ATM’s but no luck.

Não tenho certeza. Have you tried one of RBC’s 200 new U. S. dollar ATM’s they rolled out in Canada? Check them out here… rbcroyalbank/usd-2011/

very informative site, good job. cfh.

Cancelar resposta.

American Express Cobalt Credit Card Review 30 points per $1 spent Apply The NEW SimplyCash Preferred Card from American Express 5% Cashback on everything Apply Scotiabank Gold American Express Card Review 1st Year Free Apply BMO Air Miles Mastercard Review No Fee Apply TD Cash Back Visa Infinite Card Review Get 6% Cash Back Apply.

Notícias & # 038; Dicas

What Is Happening to the Canadian Stock Market and How Does It Affect You?

Hidden Credit Card Perks That Most Canadians Don’t Know About.

Improving Cash Flow Management with Credit Cards.

5 Cheap Valentine’s Day Ideas.

The Price of Love: Just How Much Should You Splurge on V-Day?

Is Raising a Child Cheaper in Canada or the USA?

No Foreign Transaction Fee Credit Cards and US Dollar Credit Cards: What’s the Difference.

Welcome to HSBC in Bangladesh.

Latest News and Offers.

Caro cliente estimado, lamentamos informar que os serviços das instalações de ATM na KEPZ, Chittagong (Zona de Serviços do Edifício, Piso Térreo, North Patenga, Chittagong) e Mirpur, Dhaka (Hyperion House, Plot 61/1 e 61/2, A estrada 4, bloco B, secção 12, Mirpur, Dhaka 1216) não estará disponível temporariamente a partir de 13 de fevereiro de 2018 (terça-feira) das 08:00 às 15 de fevereiro de 2018 (quinta-feira) às 23:00 devido a trabalhos de manutenção ATM.

Exclusively for HSBC Select customers, discover a world of unique experiences and exclusive for you to savour. Receive instant discounts on dining, shopping, entertainment, travel and more simply by showing your HSBC Select ATM card. And what's more, these exclusive offers are yours to enjoy as often as you like. So why not take a look at what's on offer and see how you can be rewarded.

HSBC is pleased to offer HSBC Select - a customised banking proposition offering exclusive privileges and unrivalled personal care. Designed for the selected few who demand immediate, undivided attention, HSBC Select is more than just a bank account. It provides you with customised services, access to special facilities, preferential pricing and unparalleled convenience.

It's our Internet Banking service that makes managing your finances a pleasure, letting you fulfill most of your banking needs online. Now you can take control of your account whether at home or abroad.

HSBC Bangladesh is introducing a new "Smart Form" to facilitate quicker processing of your remittance requests. You can download the form by clicking on "Links> Payments Solution - Smart Form" from our homepage. Please use the new form to submit your requests to your nearest branch from 1 December 2016 onwards.

In today's increasingly connected world, there is a greater need for security – particularly concerning banking. That is why we have introduced HSBC Safeguard – a series of initiatives designed to better protect all our customers and their finances.

Save time by using Value Added Services from HSBC Personal Internet Banking (PIB). This feature is a faster and more convenient way for you to apply for different HSBC products and services anytime, anywhere.

Internet banking.

Internet Banking Pessoal.

Internet Banking Services.

Atalhos

&cópia de; Copyright 2018. The Hongkong and Shanghai Banking Corporation Limited, Bangladesh (HSBC Bangladesh). Incorporada no SAR de Hong Kong com responsabilidade limitada. Todos os direitos reservados.

Avoid Hidden Currency Exchange Rate Fees and Save Big.

*Please note: As of 09/11/2017 it appears that Chase is no longer accepting applications for the Marriott Rewards Visa. We’ve sent an inquiry to Chase in an attempt to confirm or correct our presumption. We will continue to update this article as we learn more, but for now we can only recommend the Rogers Mastercard and Home Trust Preferred Visa for avoiding foreign transaction fees.

Indo para o exterior? Shopping on U. S. websites? Between commissions, fees, and surcharges, ever felt like you were getting the short end of the stick when exchanging your Canadian dollars? Chances are you were. Most banks charge up to 3% in fees over and above the prevailing currency exchange rate. We found a simple, convenient, bank-beating strategy to reduce your exchange rate fees to 0% – really! GreedyRates. ca has compared the main currency exchange methods available to Canadians, revealing the fees of each. We found that while the initial currency exchange rate is done at market rates, your rate then includes an additional mark-up which can be as high as 9%! The mark-up is then blended into the exchange rate you see on your receipt, so consumers have little chance of figuring out how much the the bank or exchange bureau actually charged. Most Canadians are not aware they can do significantly better.

Are you getting the best currency exchange rate?

What we found was surprising. The best currency exchange rate available to Canadians is the use of a no foreign transaction fee credit card. It offers a near perfect foreign exchange rate. All you get charged is the foreign exchange rate for that day, set by Mastercard or Visa, which is based on the market rates as seen in Bloomberg, Reuters and the Central Banks. There is no additional foreign exchange fee. The worst places to exchange your money? The airport, hotels and your bank branch. The only credit cards in Canada that currently offer subsidized foreign transaction fees on credit card are the Rogers Platinum Mastercard and the Home Trust Preferred Visa. Unfortunately, none of Canada’s largest credit card companies (RBC, TD, CIBC, BMO, Scotia, Capital One, Canadian Tire or PC Bank) offer a credit card without a foreign transaction fee. They all charge a foreign transaction fee of 2.5%, on top of the exchange rate set by Visa or Mastercard. They do the same for debit cards either when making a purchase at a U. S. retailer or from an ATM.

As a result, when using your travel credit card out of country or at a U. S. online merchant, whether it be your Aeroplan, Avion, or Air Miles credit card, you may be earning 1%-2% in rewards per dollar spent, but you’re probably being charged about 2.5% per dollar spent in foreign transaction fees, for a net loss of 0.5-1.5% for every dollar you spend outside of Canada! The lesson? Avoid exchanging your Canadian dollars at the bank, taking out money at the ATM or using a credit card with foreign transaction fees while travelling or shopping online.

The best way to get the lowest currency exchange rate is to use a credit card without a foreign transaction fee. You’ll get the best currency exchange rate, the most convenience and you won’t have to worry about carrying cash in your wallet.

Our favourite Canadian credit card with a foreign transaction fee subsidy is the Rogers Platinum Mastercard:

Unlimited 4% cash back on ALL purchases in a foreign currency Earn 1.75% cash back on all your purchases everywhere else, no caps, limits or categories. Apply your cash back as a statement credit OR to your monthly Rogers bill (Rogers & FIDO), Rogers & FIDO branded stores, and the Shopping Channel. Welcome bonus of $25 in cash back You will never have to pay an annual fee as long as your Rogers bill is set up as a pre-authorized payment.

A close second is the Home Trust Preferred Visa Card. Not an actual bank, Home Trust keeps its juicy foreign transaction waiver a secret, not even displaying it on their website (don’t worry, it’s clearly stated in the terms and conditions). Here’s what else you’ll get from this hidden jewel for Canadian travelers:

No annual fees, ever 1% cashback on all purchases, no matter where and no matter how much Travel benefits such as roadside assistance and liability insurance.

Now that’s a bank-beating strategy!

Article comments.

The FIDO MasterCard also gives 4% for foreign currency purchases (and 1.5% within Canada) and has no annual fee.

Home Trust does not accept clients from Quebec – and the Rogers and Fido cards now include the 2.5% fee on foreign transactions (since july 2017).

Hey Jimmy, thanks for your comment. We’re sorry to confirm that the Home Trust card isn’t available to residents of Quebec, but a comparable alternative that Quebecers are eligible for is the Rogers Platinum Mastercard. You’re correct that it imposes a 2.5% foreign transaction fee–it always has–but this is also why it adds 4.0% cash back for each purchase in a foreign currency.

If I get e. g., BMO US dollar credit card and scan pas or with a Canadian US checking account. What is the best way to get the least amount of transactions fees and the best rates :using an intermediate company like forex or simply going to my bank thanks.

Hey Marie, thanks for your questions. With a BMO US Dollar Mastercard (or a bank account denominated in US dollars) all purchases you make in US dollars, even from Canada, are not subject to transaction fees. You can go to the United States and purchase without fear of being charged extra, or buy from US retailers that ship to Canada. Otherwise, we’re not sure what you mean by an “intermediate company like forex.” If you could elaborate a bit we can reply with a more accurate answer. Forex means foreign exchange, which does not apply in this situation, unless you’re buying in Canadian dollars from the US account or card. In that case, using a bank would likely result in fewer fees, because most retail money exchanges have high rates. You’d have to check with your bank to find out. Obrigado!

I’ve always used Global Transfer Partners for my international payments, check them out for the best rates I’ve ever been able to find.

As everyone else seems to comment, great info. Eu tenho uma pergunta para você.

My son will be attending a school in Vancouver area for one year starting in September, and I live in US. I want to transfer funds to the school to cover his tuition. I just wired a “deposit” and was disturbed to find that CIBC took so much in the conversion process. I think it was somewhere in the 2-3% range, just today. They claim to only take a fee of $15, but the converted funds was quite a bit lower than what the daily rates would indicate should have ended up at the school.

Do you have any suggestions for transferring funds to the school from the US?

BTW, I have traveled in Europe recently using a Chase Sapphire card and they did not charge transaction fees. I got the daily exchange rates as you discuss. I also took cash out of machines using a Charles Schwab Debit card from a USD checking account I setup with them and again, foreign currency with no fees and no loss from daily currency rates. Just sharing.

Hi Donald, thanks for your interesting question.

You’re from the US, so converting any US dollars to their Canadian counterparts will cost a foreign transaction fee. If you equip your son with a Canadian credit card for the purpose of paying tuition, when funding the card from your US account, you will still need to pay a transaction fee.

You may be able to explore getting him an American credit card without foreign transaction fees, but as we only review Canadian cards, we cannot recommend a suitable solution for you. Perhaps look into getting a secondary Chase Sapphire card, as you’ve enjoyed using it, and give it to your son. If you’re able to get approved for a credit greater to or equal than a single tuition payment, this could be an option.

Before ordering your second card however, check with the school in Vancouver to see if this method would work – or if they have alternative suggestions. Obrigado pela leitura!

Would the no annual fee Rogers credit card you mention be an accepted card on PayPal for Canadian sellers on eBay who use PayPal to accept payment? I currently have a Canadian credit card that gets a terrible US/Can rate when the money made from eBay sales is either put on the card or dumped into the bank account attached to the card. When it’s time to move the money from PayPal to my Canadian bank, the PayPal international fees that range from 3.7 to 3.9% of final sale including shipping are bad enough, so any savings on the exchange rate fees when my bank converts would be welcome.

Hey Bob, thanks for presenting us with a very interesting question!

For Canadian eBay sellers who get payments in USD via PayPal, PayPal will inevitably charge a foreign transaction fee, as you mentioned. Officially, this fee is 3.7% for Canadians selling to the US market. There may be no way to avoid this, however, we’re not sure that getting a credit card like the Rogers card will help with the other half of the equation, which is getting the money from PayPal to your bank.

Only purchases made abroad or from foreign online retailers with cards like these are exempt from the extra transaction fees , and adding foreign money to the card or account may not be considered as eligible for this benefit.

Regardless, PayPal is the party charging you the extra 2.5% to convert USD in your account to CAD when depositing to your bank, meaning that you’re charged this exchange rate fee no matter what bank you work with or what credit card you have. You could try looking into opening a USD bank account in Canada, which is easily possible, but when trying to use that money you will run into fees as well. If you have further questions, you could try calling PayPal Canada’s customer support and asking for common solutions. Boa sorte.

Yes, endeavour to open the US$ account with a Canadian bank, it should be possible even with a US resident address. Then to convert from either US-Can-US dollars use a good Forex on-line company, i. e. Transferwise or X-E trading to mention two. However, it will be necessary to open an on-line account first with these companies who typically charge about 0.5%. What most people don’t realize is that you can then transfer funds between the Can and US bank accounts in your name even at the same bank address.

I just wanted to comment on the Chase Amazon visa, which is what I use and think its good No Foreign transaction fee card. Some others mentioned previously they were getting charged what looked like higher rate or the fees. I have not found that in an cases since I have had the card (August 2016). I used it when I went to Europe and now for all my US purchases. In Europe the days I compared posted rate on card was 1.4464 while the posted rate for the day at least on (XE) was 1.4494 , 0.003 difference .

I also have used the XE credit card charge calculator to compare exchange charges vs other cards I use to use (Now obviously this is mid day rates so not your final number but as a comparison tool to other cards), and consistently other cards I used were 3 to 4 % in fees while Amazon Visa is consistently 0.3 to 0.4 for many US purchase and was 0.15 to 0.2 for Euro. Plus the 1% back on all purchases takes care of even the small fees that may be there.

Just my thoughts and opinion but for now this card has my vote for anything in foreign currency.

Also just FYI if traveling to EURO or abroad, and requiring some cash, use a card like this preload it with extra cash and go to no fee atm and take out your cash needed, it only charges 1% cash advance fee or min 5$ ( so take out minimum of what would be 500 CAD) no transactions fees $5 withdrawal fee , cheapest way I have found to exchange smaller amounts of money for Canadians , you will most likely save $20 to $30 compared to at a bank or other converter place.

Thank you for putting up so much useful information here! I definitely learned a lot from you!

I am planning a trip to Japan later this year and read somewhere online that if you use Visa and MasterCard in Japan, they would convert Japanese Yen into USD first then convert into CAD.

Would this double conversion increase the overall cost to convert Yen to CAD if I use my Rogers MasterCard in Japan?

I’m trying to figure out if it is still worth it to use this card wherever possible while in Japan, then converting more Yen at my local bank before the trip.

Thanks for the appreciation. We’re here to help, and think we can offer some insight into how to get the most from your trip.

We’re not sure where you read that purchases made with a Visa or MasterCard in Japan are converted first to USD and then to CAD. Establishments in Japan accept most credit cards and take payment in Yen. We are confident that stores, restaurants, hotels and other places in Japan will make the card convert just once – from CAD to JPY. MasterCard and Visa will apply the standard foreign exchange rate and then any foreign transaction fee that comes with using your card abroad.

On a related note, be sure to let the card issuer know that you will be abroad. This way, purchases will not get red-flagged and access to funds will go uninterrupted.

Enjoy your trip!

Sorry for the late response… somehow I lost this page and just found it.

Thank you for the info, now I’m sure I’ll use my Rogers card with confidence during my trip =)

Continue com o ótimo trabalho!

I’ve just read the T&C from two of my TD Visa cards.

Any other currency outside of USD, Euros, GBP, Austrailian Dollars, or Mexican Pesos, will be converted first to USD, then to CAD.

So it’s a major ripoff.

Hi Jason, thanks for your insightful comment. We’re always pleased when our readers do their due diligence, and encourage you to check out the Rogers Platinum Mastercard if you want a better choice. Its 4.0% cash back bonus when using foreign currencies will cover the 2.5% foreign transaction fee you mention and more. You can learn more about that card by reading our Rogers Mastercard Review, or you can apply for the card directly via this link. Another option would be the Home Trust Preferred card, which accomplishes the same goals when it comes to avoiding extra foreign transaction charges. You can learn more about it by checking out our complete Home Trust Preferred Card review, or you can apply directly via this link. Boa sorte!

Thanks for the great article!

I will be traveling around the world for a year, and now have the Rogers Platinum credit card you recommend.

However, many places I will be traveling do not accept credit card. I will bring some USD cash with me, but sometimes will have to take cash out of ATMs. Do you know of a Canadian bank that does not charge (or rebates) foreign ATM fees? Some of the US banks have this type of account, e. g. TD’s American “Premier Checking” conta.

Scotia is part of the Global ATM Alliance. Use ATM’s in the alliance and you won’t pay a surcharge or access fee. The network seems to be quite extensive throughout the globe.

If you have some bank plans (TD Select, RBC VIP), they will not charge you a fee on their end, but the ATM you are withdrawing from will still charge you a fee.

Espero que ajude!

Some great answers “Greedy Rates.” I’m a simple person trying to get something clear in my mind. I have a RBC Visa, Infinite, Avion credit card. When I use it for purchases in the US, will I have to pay the 2.5% card fee on the exchange plus a bank fee?

Boa pergunta. If you use your RBC Avion Visa Infinite card for a purchase in the U. S. you will only pay the 2.5% foreign transaction fee, plus Visa’s foreign exchange rate (which has a small fee embedded in it).

However, if you use your RBC Avion card for a cash advance, you’ll pay the 2.5% foreign transaction fee, Visa’s foreign exchange rate, RBC cash advance fee and in all likelihood the ATM’s withdrawal fee.

Espero que ajude,

Hello GreedyRates, I need your advice regarding the US-Canada currency exchange. I expect to earn in US funds to be deposited in a US bank account. Those funds will be used to pay Canadian bank loan on a bi-weekly basis. Could you please advise as to what would be the best approach for me to obtain best exchange rate and save on currency conversion fees? Thanks for your guidance and advice.

Your best bet is to get a few quotes and determine which is the lowest cost and most convenient provider for you. You should probably check out Knightsbridge as well as the online exchange rate with your retail bank – this can be especially advantageous if you have a cross border account with TD or RBC.

Espero que ajude,

Thank you GreedyRates.

Sorry for the delay in replying.

I came across your site while searching for currency converters. Thank you so much for the help.

I’m looking at a property in Florida. What is the best route to take for converting currency for a large purchase like this? I’m getting different amounts and percentages depending on the site I go to.

For a large sum like that we’d suggest you get multiple quotes from different providers. We’d suggest getting quotes from Knightsbridge, Canadianforex. ca, and Xe. Once you have the three quotes, we’d suggest asking your branch manager to get a custom quote from their foreign exchange desk to see if they can match or beat the best quote you were offered from the first three.

Espero que ajude,

Interesting and very informative website you have.

Please correct me if I am wrong on my understanding. It seems that in Canada if I have a ” no foreign transaction fee” credit card (Rogers or Chase) My foreign currancy exchange rate will be set by either Visa or Mastercard @ “Interbank/Spot Exchange Rates” or whatever the exchange rate is for a particular foreign currancy for that particular date and time of the transaction, without additional fees included, so that I will receive the cheapest or near cheapest exchange rate possible, without fear of incurring hidden bank fees in Visa/Mastercard exchange rate fees.

Please respond to my query, as I am trying to figure out the cheapest way to travel in Europe without incurring additional charges that need not be.

I am sure you have answered this question above, but for me to understand, I need you to answer my question in the form it is written.

Big fan of yours (you must get that all the time)!

1. Correct, Visa and MasterCard set the foreign exchange rate.

2. Our research indicates the networks set it pretty close to the “Interbank/Spot Exchange Rates” but not exactly at it. Over 52 testing periods, MasterCard averaged 58 basis points (.58%) over the Bloomberg spot rate and Visa was 98 basis points (.98%) over the Bloomberg spot rate.

3. As a result, a card with no foreign transaction fees, will typically be cheaper than most if not all other currency exchange alternatives available to an individual.

4. To be clear, while the Rogers card offers 4% cashback on foreign purchases, it does charge a 2.5% foreign transaction fee. However, the net rewards rate ends up being 1.5% cashback (4% cashback – 2.5% FX fee = 1.5%), versus the Marriott card which offer a 1% net rewards with no foreign transaction fee (1% rewards – 0% FX fee = 1%). As a result, we believe the Rogers credit card offers the best FX value in the Canadian marketplace.

Espero que ajude!

Hi, Just read that the SnowBird Association offers Canadian dollars send to your US acct, at preferred rates.

Have you heard of this, and are rates competitive?

If you need U. S. cash, the Snowbird association, will typically provide better rates than your retail bank. However, there are two caveats. First, we still think a no foreign transaction fee credit card or a card such as the Rogers MasterCard which subsidizes foreign transaction fees with 4% cash back on foreign purchases, offers better exchange rates. So if you can use a credit card, you’re better off than using the cash.

Second, we do know that if you’re transferring larger sums, and let your bank manager know of the quotes you received from the Snowbird Association or Knightsbridge, they may be willing to match it. Also, note the the Snowbird Association has a $25 annual membership fee. So just make sure you’re transferring enough each year to make the savings worth your while.

Espero que ajude,

I just checked out the terms for the Rogers Mastercard and found this:

“All transactions made in a foreign currency are converted to Canadian dollars at the rate established by MasterCard International in effect on the date that we post the transaction to your Account (which may not be the same date as the date of the transaction plus an amount equal to 2.5% of the transaction amount after it has been converted to Canadian dollars.”

It looks like it is just like every other credit card in Canada with the 2.5% conversion fees.

The Rogers card offers more value on foreign purchases than either the Amazon or Marriott cards. First, Rogers offers 4% cash back on all foreign purchases. When you deduct the foreign transaction fee, you’re left with net 1.5% cash back (4% cashback – 2.5% FX fee). If you use the Amazon card, which offers 1% cash back and no foreign transaction fee you’re left with net 1% cash back (1% cashback – 0% FX fee). The Rogers card comes out ahead.

Hopefully this clarifies why we recommend the Rogers MasterCard for foreign purchases. Rogers is just subsidizing the foreign transaction fee with its high cash back rate on foreign purchases, but is still offering more value than any other credit card alternative in the Canadian marketplace. So in fact, they’re not like any other credit card in Canada – even better than those who simply removed the foreign transaction fee.

If you have a credit card with 2.5% fee foreign exchange fee and the currency is not in US dollars like Nzd for instance, is the 2.5% applied twice? The first time when converting Nzd to Usd and the second time when converting Usd to Cad? Muito obrigado.

You only get charged the foreign transaction fee once, regardless of whether you’re converting US to CDN or NZD to CDN. It doesn’t matter whether the US Dollar is used as the peg currency or not.

In fact, as far as we know, every credit card issuer uses the US Dollar as the peg currency when switching an intl currency to the Cdn dollar. Some just articulate it in their disclosures while others do not.

Ótimo artigo! I was surprised to see no mention of major Canadian Banks US Credit Cards as a solution to the exchange fee issue. What is your opinion on the CIBC US Dollar Visa card along with using a US Dollar bank account. Would this be a viable alternative? Buy US funds when the US currency is favourable, deposit into the US account, and spend using the US Visa while in the US. Payoff the US Visa card balance with the funds pre-purchased at a favourable rate. I would like to hear opinions on this method of saving on exchange fees – any info would be appreciated. Obrigado.

If you already have US Dollars, or earn American dollars, a US Dollar currency card is a good alternative. However, if you’re exchanging Canadian dollars to US dollars, to pay for purchases on your US dollar card, it’s likely a more expensive strategy than using a credit card with subsidized foreign transaction fees.

The reason is because when you convert your Canadian dollars to US dollars at the bank or exchange bureau, you will be charged a fee on top of the spot rate. However, the fee is not separated from the exchange rate provided. In general, that fee will be in the 2.5% to 3% range at a Canadian retail bank, when exchanging small sums in branch. When using a credit card with subsidized foreign exchange fees, you will be paying substantially less.

Moreover, not only will you be avoiding the 2.5%-3% exchange fee margin, you’ll ALSO be earning rewards. As of right now, no Canadian US Dollar cards offer a competitive rewards program, if any at all.

Hope that was clear and helpful,

2 & # 8211; 3% bank fee . I wish. I opened a U. S. bank account and a U. S. Mastercard to avoid the 31% I paid on my last purchase using my regular Mastercard. You didn’t read that wrong. Exchange and bank fees amounted to over 30%. Learned that I hadn’t saved a penny when I went to transfer money from my Canadian funds account into the US account to pay fr a purchase and they wanted the very same 31% bank fee to cover the transfer. BMO is a rip-off and I’m not sure any major bank is any better.

Obrigado pelo feedback. Any chance you can share with our readers how your effective exchange rate (rate, plus fees) added up to 31%? It would be helpful to all of us.

Thank you so much for the fantastic article! I’m going to be ordering one of these foreign fee recommended credit cards for travel ASAP, however I won’t be able to receive it in time for my trip this weekend. I have a few questions:

1) Until I get the card, do you suggest exchanging currency at a place like International Currency Exchange or a local bank?

2) When travelling to countries such as England, would you suggest exchanging currency in Canada or in England?

3) Once I get one of these credit cards, what do I do in a situation where credit card is not accepted at a merchant in a foreign country? Would you use the Rogers Mastercard or Marriott Visa to exchange currency at a foreign bank?

4) Why does GreedyRates recommend the Rogers card over the Marriott card? It seems that with the 1st year waiver and 30,000 points, it is a great churning opportunity?

Obrigado pelas palavras amáveis!

1. I would get quotes from 3 places. We actually bring a quote to our branch manager, who then calls in the foreign exchange desk to see if they’re willing to match it. They match it every time. You get the best price and it saves the inconvenience of having to work with an exchange bureau.

2. Always better to get some quotes and do it domestically. When your overseas it’s difficult to get options, and you do not want to get stuck exchanging money at the airport, hotel or tourist area – that would be worst case scenario.

3. You might be better off ensuring you bring some foreign cash with you for those eventualities. Doing a cash advance is also expensive, given that you will be paying a cash advance fee, plus incurring interest right away. If you do a cash advance, you will be charged $5, so if you take out $100 that’s a 5% fee. You’d be better off planning ahead and paying 1.5% to 3% exchanging money at the bank.

4. Both cards are great. In fact, if you’re into churning you could get both cards. Ultimately we chose the Rogers card because it has no annual fee, you earn 1.75% cashback on foreign spend, and the cashback is worth something to everyone. Although Marriott has a phenomenal welcome bonus and first year fee waiver, it’s rewards on spend is not as rich, and because points are restricted to marriott, we felt it had less universal appeal (that said, we love the card, and if you do find free hotel nights appealing, it’s a great card to churn, especially with a no risk first year fee waiver).

Espero que ajude,

Extremely helpful. Muito obrigado!

Sorry one more question! With the Marriot Rewards card, I believe the current offer is 30,000 points after first purchase. In the past, there used to be an offer with 30,000 points plus 1 free night after approval. Does that not exist anymore?

Also, are there any extra taxes on top of redeeming points for a free night? Or is it 100% free?

You get 30,000 points plus a 1 free night anniversary certificate, every year. Always been like that as far as we know.

Somebody already asked this question but unfortunately there is no answer posted. I have some inheritance money in British pounds due to me. It seems the bank fee charged on the last one was extreme and I’m in the process of checking it out. What can I do to get a better exchange rate? Is there anywhere to go that would be better? Or is there someone to whom I can launch a complaint? Their ‘fees’ seem to be shrouded in secrecy.

The alternative is to get multiple quotes from foreign currency exchange shops like TransferWise, CanadianForex, XE Trade, NorthStar, International Currency Exchange, and Knightsbridge Foreign Exchange.

You can also take a quote you’ve received online and bring it to your branch manager. See if they’d be willing to calling into the banks forex department and give you a matching or better rate. If they’re willing it makes life easier for you.

The key is to get multiple quotes so you know you’re getting the best rate available.

Espero que ajude,

BitGold is an interesting approach to reducing the exchange rate. If I understand it correcting, it is 1% on buying gold and 1% on converting the selected gold value to any currency of your choice.

Since most people who invest have a brokerage account there is an ETF on the TSX to do the conversion of Can$ to US$ and vice versa.

Purchase DLR on the TSX from your Canadian cash account. At the same time, sell the DLR. U from your US$ cash account.

The DLR. U is the same as the DLR, except it is US$.

On settlement date in 3 business days you will have the US$ in your US cash account to transfer to your US$ bank account…

This also works in reverse.

Only cost is two buy/sell orders, in my case $19.98.

I will be receiving an inheritance in British pounds (GBP) and wish to convert it to Canadian dollars. Since it is a very significant amount (>100K pounds), it is imperative that I secure the best rate possible in order that I don’t leave a large amount of money “on the exchange table”. What suggestions would you have for securing the best rate?

Went to US yesterday and shopped at the duty free store using the Amazon Visa, the exchange rate is 1.30, but it charged my at 1.34, a 3% margin, isn’t the foreign transaction fee be waived using Amazon visa ?

That’s strange because when we checked Visa’s exchange rate for the day (on the 19th & 20th), the exchange rate was set at 1.304370. Not sure how Chase can be charging you at 1.34? Yes the foreign transaction fee is supposed to be waived for the Chase Amazon Visa. I’d call Chase and let them know you checked the Visa exchange rate calculator, and you’re not sure how they’re coming out to 1.34 when Visa comes out to 1.304370.

Let us know what happens,

Shawn, I had the exact same complaint. I charged an item for $1.00 US on my CIBC Visa and it came back at $1.38, and then charged the same item to my Amazon VISA. Same thing as CIBC. I left a review on Amazon. ca pointing out this discrepancy. Chase needs to be called on their bait-and-switch.

No immediate question…. after reading article, and the comments and responses….

but wow. Informative and helpful site!

Love the Q&A! My son will be going to a US prep-school in the fall and I am looking for the best option of exchanging Canadian to US funds to pay for it. Do you have any recommendations of making the most of the money exchange so I won’t be hit so hard?

We’re going to assume you earn in Canadian dollars. The first question to ask is whether your son’s prep school accepts their tuition via credit card. As a private school, they very well may. If so, use a no foreign transaction fee credit card to pay for the tuition – that will give you the lowest exchange rate. The credit card will convert your US dollar purchase to Canadian dollars, close to, or at, the spot rate, with no additional exchange rate fees or margin. Then you’ll just pay your bill in Canadian dollars.

If your credit card does not come with a sufficiently big enough credit line to pay for the tuition, either iteratively break up the tuition payments and repay your credit card each time, or see if the credit card company will temporarily grant you a larger line for a big purchase.

If not, the best thing for you to do is to exchange your money through a company like KnightsbridgeFX. You can also take your quote from Knightsbridge and see if your branch manager can match it by calling into the FX desk of the bank – saves you the trouble of applying through Knightsbridge and transferring funds.

Espero que ajude,

HSBC debit cards have no 2.5% fee on foreign transactions. They are the only Canadian bank to do that now that Citibank is gone. Also, if you can find an HSBC machine (which are in many countries), you can avoid the $3? fixed withdrawal fee. And note that if you withdraw cash from an ATM with any credit card, you have to pay the cash-advance fee, about $7?.

Just remember, you cannot use your HSBC debit card at foreign merchants, either face-to-face out of country, or on the internet. You can only use it to withdraw cash at an ATM in a foreign country. Given that, why wouldn’t you use a credit card that has no foreign transaction fee, allows you to earn points, offers you warranty, purchase & fraud protection and MOST importantly allows you to make the purchase!

Moreover, while HSBC confirmed to GreedyRates that they do no charge a foreign transaction fee with their debit card (this comment is not referring to credit cards), they were less transparent on where they derived their conversaion rate from. HSBC specifically said they used the conversion rate provided by the “governing bank” of each country. It would be interesting to compare HSBC’s governing rate to that of the networks (VISA, MC), to see if it comes in at the same, lower or higher rate.

Thanks for the observation.

Will any of the major banks waive the foreign currency transaction fee on the credit cards (BMO, TD, or even AmEx) if you call them to advise you are travelling internationally? Maybe a one time offer?

We’re planning a trip to Europe and I’ve had a couple of people tell me to do this. Is there any truth to it or would I be wasting my time?

Thanks for all the great information you post – extremely helpful.

We haven’t seen a bank agree to that. However, your question peaked our curiosity! So we just called TD, CIBC & American Express to see if they could or would waive the foreign transaction fee while we were ostensibly on “vacation” nos Estados Unidos. None were willing or able. They all said it wasn’t an option in their operating system, if they wanted to. That said, it’s always worth a try.

If your bank does agree to waive your FX fee, please let us know so we can share with our readers!

Hi Greedy Rates.

I have an account in Germany with around €50,000 in it. I’m looking to get it transferred / converted into Canadian Dollars.

What’s the cheapest way to do it?

You have a couple of options. We usggest you get multiple quotes, more or less at the same time, to see which one gets you the best rate, with the least fees:

1. If you have a brokerage account, see how much it charges for currency conversion. Brokerage accounts tend to offer cheap conversion options for high dollar amounts.

2. Check a few of the larger exchange houses (xetrade. knightsbridgeFX)

3. Check currencyfair, which allows you to exchange currency and transfer money internationally through P2P.

In the end, you ay always want to take the best rate you get, bring it to your branch manager, and see if they can call their FX desk and match it. If they’re willing to, it may be more efficient.

Espero que ajude,

What if we pay by PayPal, with a credit card, foronline US shopping?

Ótima pergunta. If the transaction is in USD, PayPal will convert the USD to Canadian dollars, collect a 2.5% foreign exchange fee. They will then charge your Canadian credit card the converted Canadian dollar amount. Because PayPal controls the transaction, they astutely convert the currencies themselves before it hits the creidt card and keep the 2.5% margin for themselves as well. As a result, if you’re are using a no foreign transaction fee credit card, it will be waisted if you use your card through PayPal.

The workaround on this, is obviously to use your no foreign transaction fee credit card directly, without going through PayPal. Truthfully, not that big a hassle.

Thanks for a great question.

Muito obrigado! Ótimo site.

You can get a U. S. dollars visa from TD as well. If you have a U. S. dollars bank account and purchase a lot online from the U. S. or travel to the U. S. a lot it could be a good option. I do a lot of business online in U. S. dollars and by my rough calculations was losing $600-700 in exchange fees per month!

Yo bring up a point we think merits additional comment. What’s better, a U. S. Dollard credit card, or a no foreign transaction fee card? If you earn U. S. dollars, it obviously makes sense to have a U. S. dollar card. However, if you earn Canadian dollars, a no foreign transaction fee card will save you more.

The reason is because, if you get a U. S. dollar card, you will first have to convert your Caandian dollars to U. S. dollars. You will typically do so at the bank or through an exchange service. When doing so you will be charged a fee, over and above the interbank/spot rate. That fee will be included in your exchange rate. Typically it will cost from 1.5% to 3%, depending on where and how much you exchange, if you do it with your bank. You will then use those US dollars to pay down your US dollar credit card bill.

However, if you use a no foreign transaction fee credit card, your Canadian dollars will be converted by MasterCard or Visa at the interbank/spot exchange rate, and their will be no additional fee/margin on top of it.

Plus, most US dollar cards either earn you no rewards, or minimal rewards. Whereas, you will earn substantial rewards with all of the no foreign transaction fee credit cards (Rogers – 1.75%, Marriott, Amazon)

That’s why a no foreign transaction fee credit card beats a US dollar credit card everytime. The only exception would be if you earn income in US dollars. In that case, a US dollar card makes sense, because if you used a Canadian no foreign transaction fee card, you’d have to convert your US dollars to Canadian dollars (incurring a fee), to pay your Canadian credit card statement.

Isso faz sentido?

I’m curious about the last paragraph. I earn USD and currently use a TD USD Visa. I use my regularly earned USD to pay that bill each month. I also have an Amazon. ca Visa and am wondering if it might actually make more sense to use that card (or the Rogers MC) for those purchases despite the fact that I earn USD but I can’t seem to make total sense out of it. I currently exchange USD to CAD but hold on to.

$1000/mth to pay my USD visa. The exchange is done through TD borderless account so I know I’m not getting the best exchange rate. If Amazon. ca VISA uses a rate that’s close to the spot rate + I get 1% cash back, does it make more sense for me to make my US purchases on my Amazon. ca Visa rather than on my TD USD Visa that has no rewards?

Hey Vicky! Awesome question, and the answer is yes – it would be beneficial for you to make purchases in, or from the US with your Amazon. ca credit card. This and the Rogers™ Platinum MasterCard® card have no foreign currency transaction fees, and when you consider the 1% cash back bonus, plus an exchange rate that is close to spot, it becomes much more valuable than using cards without similar benefits. Hopefully this answers your questions!

From the discussion, it seems TD debit card withdrawalsf in Mexican pesos,]

there is a ATM (HSBC) machine fee + 2 1/2 % exchange fee + the rate of exchange charged by Canadian bank. Isso está correto?

In other words, if I need to change $150,000 CDN to Mexican pesos, what is the best strategy. I have an Intercam account in Mexico.

In the case of TD, if you don’t have an All inclusive account, you will be charged $3.00 CDN per withdrawl at a non-TD ATM in Mexico by TD, plus whatever HSBC charges you for the use of their ATM. It can easily be up to $6 in flat fees per withdrawl.

In addition, you will be charged for the foreign exchange by TD as follows:”For Debit Payment purchases at merchants outside of Canada who accept Visa Debit, the transaction amount will be converted to Canadian dollars based on the foreign exchange rate charged to TD Canada Trust and will include an additional fee equal to 2.5% of the converted amount. For NYCE® Debit Payment purchases, included in the currency exchange cost will be a conversion fee which is calculated by adding an additional 250 basis points to the interbank U. S. dollar exchange rate. For example, on a purchase of $10 U. S. with an exchange rate of 1.3 the transaction amount will be $13.25 CDN ($10 x 1.325). Deposit transactions are free.”

In our opinion, there are two ways we would recommend converting your Canadian dollars to Pesos. First, for those merchants accepting credit cards, use a no foreign transaction fee credit card (Rogers, Marriot, Amazon). You will only be charged the foreign exchange set by Visa or Mastercard, which is better than anything you will be able to achieve on your own. The other advantage is, you want have to pay any ATM fees to access your cash.

Secondly, to pay merchants who require cash, we would recommend you get multiple quotes from TD (speak to a branch manager and get a quote from the foreign exchange desk), HSBC, Knightsbridge (only charge .5% fee above the spot exchange rate), or another foreign exchange office. We would then recommend opening a Mexican HSBC account, and putting your Pesos there, so that you can withdraw your cash requirements fee free (since TD does not have ATM’s in Mexico). It makes no sense to pay $3 to $6 everytime you need cash. Withdrawing $100 at a time, it’s a 3% to 6% fee just to get your money.

Walter does that make sense to you? Foi útil?

Muito obrigado por este post. I have an expensive surgery in the US this spring and have been watching the live currency chart religiously for awhile now. Finally pulled the trigger to pay half of it after seeing the terrible 1.46 rate last week.

Noticed that the USD to CAD closed at 1.409 on Jan 27 but on my stupid RBC credit card I was billed on Jan 27 for 1.4509. 4% higher… which is tons of money when we’re talking thousands of dollars for a low income person. Sigh, just sent an application to Rogers, was rejected from Amazon already.

The Canadian Chase/ Marriott VISA Card does not charge the extra 2.5% on top of the International Visa exchange rate. I use it daily in the USA. 2.5% less than my RBC Avion Visa. The Chase card also accumulates points. There is $100 yearly fee. Yearly one gets a free one overnight in any 1 to 4 or 5 category Marriott Hotel.

Todays exchange rate for the Canadian Chase/Marriott Visa today is 1.41 and 1.44 for the RBC Avion Visa.

Scotiabank has now taken over the Sears/Chase MasterCard. It is the Scotiabank Momentum card. I just got my replacement card for the Sears card. It still has the same card number and I’ve used it 4 times since I received it.

It works well, just as the Chase/Sears did.

Great to hear the portfolio conversion is going well for former Sears MasterCard holders who have been converted to Scotia’s Momentum Visa card. That said, previous and NEW Scotia cardholders will not have their foreign transaction fees waived. Only those who were converted from the Sears portfolio.

Bom artigo. Obrigado.

Are you aware if casinos in the US offer better exchange rates on using Canadian cash to purchase US cash? I do know that many casinos in Canada offer better rates for exchanging US to Canadian, but I am not sure if this is the same in the US.

Great thought! We haven’t done a study, but we can say that some, such as the Grand Casino in Vegas have tried to lure Canadian gamblers with “par” deals at the slots if you stay at the hotel, and other casinos do offer attractive rates when buying chips, for obvious reasons.

You Guys are best advisors than big banks have, very knowledgeable indeed.

I have Us account and have some money sitting in it.

Is it good time to convert it into CDN?

From where I can get best rates?

Do the banks charge any fee on conversion of currency?

Thanks in advance for your time.

Obrigado pelas palavras amáveis! We’re not currency experts, but the loonie has not been this low since 2009. If you look at historical charts since 1976, the dollar has not been this weak very often. However, some people prefer converting their currency over time i. e. X$’s per week or month, so they don’t rely on one days timing. Timing the market perfectly is hard, but you can at least rely on the fact that now is a historically good time.

Yes banks do charge a fee for converting your currency. However, the do not publish the fee. The fee is baked into the exchange rate they offer you. To get the best rate call around – never use the rate you’ll get with the teller. I would focus on a few specialized shops like Knightsbridge, XEtrade, TD Borderless account online exchange. Then speak to your branch manager and see if they can call their foreign exchange desk and match your rate. If yes, it makes things a lot simpler. If no, choose the cheapest and most convenient alternative.

Thanks for providing me such useful practical knowledge. Wish You guys Grow and prosperous.

Hi greedyrates, great article.

just wondering, if i use my amazon chase visa to take out cash, wouldn’t there be a transaction fee?

There would be a cash advance fee if you withdrew money from a foreign ATM (greater of 1% or $5, and you start incurring interest right away), but there would not be an additional foreign transaction fee (typically an additional 2.5% – plus the exchange rate).

Hope that answers your questions!

i guess i can eliminate that cash advance fee if i overpay my account balance, right?

Actually it’s a little dicier than that, and it depends on the issuer. You may get charged the cash advance fee, but not the interest. After all you’re using the cash advance function, but the loan itself is being paid down immediately, so no interest. Or you may get charged the fee and the interest (but only for a day or two), or you may get charged nothing at all. If you use your card for purchases during that time period, in addition to cash advance, you may get dinged the cash advance fee.

Some issuers may put a hold on your card if you constantly overpay, leaving a credit. It’s a tactic used by fraudsters to launder money. Although it’s usually larger sums that are flagged.

GreedyRates, you are providing extremely valuable information with this site, please keep up the great work! It’s also awesome that you take the time to reply to individual comments/questions. I have a question related to your discussion with Kevin.

My goal is to minimize any fees related to acquiring foreign currency. From my research and understanding, I think the following would be one of the most economical ways, but have some questions for clarifications.

Step 1. Overpay, in advance, the Amazon credit card balance by the amount of the withdrawal I want to make. Say $500.

Step 2. Withdraw this amount from a foreign ATM. I pay a $5 cash advance fee and this is basically the only charge I incur (ignoring the local ATM operator’s own fee, which is inevitable as far as I’m aware and thus not worth trying to minimize).

Q1: I pay essentially zero interest, correct? Either I am charged no interest because my card balance is overpaid or I might pay 1 day of interest which is basically nothing (19.99%/365 days * $500 = 0.27 cents).

Q2: Is it certain that the zero foreign exchange fee that applies to regular foreign currency purchases will also apply to this foreign currency cash advance? No traps here?

Q3: What percentage of the credit limit are cash advances typically allowed to be? I’ve heard they can often be much less than your credit limit? Would withdrawing several hundred dollars (I’d probably withdraw $200-500 at a time) pose any issues? Similarly, you mentioned the anti-money laundering issue if you frequently overpay your credit balance by a lot…do you know if a few hundred dollars is low enough for this not to be an issue?

From what I can tell, there is no way to avoid the typical 2.5% foreign exchange fee when using a bank’s debit/ATM card which is why I think the method above using a credit card that does not charge this ForEx fee might be the lowest-cost method. A $500+ withdrawal is the optimal amount because the cash advance fee is only 1% (any amount lower will be less economical because the cash advance fee is a minimum $5). The only competitive option when withdrawing smaller amounts may be leveraging the Scotiabank Global ATM Alliance because you can avoid the local ATM operator’s fee as well.

Does all this logic seem sound? Or am I missing something? If you’re lucky, as you mentioned, and the issuer doesn’t even charge the cash advance fee because you have overpaid your balance, this method would appear almost hands-down the best way to get foreign currency abroad (although I think it makes sense that the cash advance fee would apply since you are still undertaking the cash advance transaction).

Thank you again for such a great site!

Great question and thinking. Thanks for the kinds words about GreedyRates!

We called and verified with Chase Canada. There is no foreign transaction fee on cash advances. Furthermore, you can pre-pay your account, however, you will still be charged a 1% cash advance fee, or $5 per advance, whichever is greater. You will also be charged interest from the time of your purchase to the time it gets posted – usually 24-48 hours (but like you said that’s not much).

1% is not insignificant, and $5 is very significant. If you do a $100 cash advance that’s the equivalent of a 5% fee. Do a $200 cash advance, it’s the quivalent of a 2.5% fee.

However, if you take out a cash advance of $500 or more, you’re fee will be 1%, which is obviously better than 2.5% foreign transaction fee.

The best option would still be to use your no-foreign transaction fee credit card wherever possible. If a merchant does not accept credit cards, your option of doing a cash advance, with immediate repayment is a good option, but only if done in increments greater than $200 ($200 is the breakeven, where the min cash advance fee of $5 equals 2.5% – so anything higher would equal less than 2.5%, making it a better option than withdrawing cash at the ATM with a 2.5% fee).

Isso faz sentido?

GreedyRates, just following up on your reply (I couldn’t reply directly to it because my original post and your reply do not have a reply button…odd?).

Yes, that all makes sense and thank you very much for answering my questions. Definitely agree that making purchases with the credit card wherever possible is the best case scenario, but having cash is necessary for a lot of things. So seems like this card is a winner for both methods!

Now I’m just hoping that the cap on how much they allow you to withdraw as a cash advance isn’t prohibitively low.

Just a follow up question to this thread, assume I have an Amazon. ca rewards VISA and withdraw the equivalent of $500 Canadian in foreign currency from a foreign ATM. I also already have a balance of $500 on the card from purchases I made in stores in the past few days. Based on my interpretation of the Terms and Conditions, if I were to place a $500 payment onto my VISA immediately after making my $500 withdrawal, the payment, when posted, would be applied proportionally to my existing balance and my cash advance balance (in this case a 50/50 application). So in order to avoid paying interest on my cash advance I’d immediately need to pay off my entire balance, correct?

Está correto. That is why it is so important to either pay down your cash advance balance immediately, or pay down the entirety of your balance at the end of every month. Funny enough, prior to recent regulations, banks used to allocate your payments to your low interest balances first, maintaining the entirety of your higher interest balance until the low interest balance was paid down. At least things have improved somewhat.

Thanks for the quick reply! Just to clarify, in the scenario I outlined above, assuming I had paid off my balance on time, and had recent charges that would be included on my next statement, my balance would be considered zero for the purposes of allocating a payment. Or would my payment still be applied equally against my recent purchases (for which I have not yet received a Statement) as well as my Cash Advance?

We’re not positive, but believe that if both balances originated prior to your statement, then any repayment could be applied proportionately, even though only one of those balances might be incurring interest. Unfortunately, Chase’s disclosure is not clear on the matter, and we’d assume, rightly or wrongly, that if it’s ambiguous, it works in their favour.

Here’s what their disclosure states “For any account statement where different annual interest rates apply to different amounts billed and owing on that account statement, any payment by you that is greater than the Minimum Payment set out in that account statement will be allocated among those amounts in the same proportion as each amount bears to the outstanding New Balance on the account statement. We reserve the right, subject to applicable law, to change the order in which we apply payments without notice to you.”

My husband and I are living in the U. S. We are retired and receive a Canadian Pension and Old Age Pension which we receive through Scotia Bank. The exchange rate now is very hard on us. Can anyone suggest a way we can get around this. We lost almost $500.00 in December because of the high exchange rate.

if you are paid 100% in CAD and spend 100% in USD when the CAD is 20% lower than it should be because OPEC wants to harm competing oil producers, then you’re evaporating 20% of you’re paid. the only way around this is to stop spending CAD on USD while the CAD is bad.

Probably not the smartest question asked but I can’t wrap my head around this. xe : to buy 1000 can is @ 700 us but to buy 1000 us is @ 1400 can. Should it not by approx 1300 with a 70cent dollar?

Actually a VERY smart question! One we had ourselves – you wouldn’t believe the answers we got from supposedly people in the “know”. The answer is actually based on pretty simple math. Using your example, if we wanted to take the $700US you received, from the $1,000CDN and make it $1,000CDN again, we would need to apply an exchange rate of 42% (1,000-700)/700. However, going from $1,000CDN to $700US is only 30% (1,000-700)/1000. You have to change denominators. So even though the exchange rates are different, the nominal amounts, when going back and forth using those rate, should be equivalent. Isso faz sentido?

Very interesting article, greedyrates. I have a question, though: Is there any one I can speak to in Canada, like an Ombudsman or consumer group, to complain about an obscene exchange rate that I was charged? Is there a legal cap to the rates and additional exchange fees that can be charged? Today I used a Mastercard Rewards cash card that I received from my employer as a bonus for my years of service. I put $1000USD toward a cruise that I had purchased and it came to $1629.26. That’s an effective exchange fee of over 15%. Even if I add a typical 2.5% FX fee added as shown above, both the VISA and MASTERCARD calculators gave me a calculation of about $1450. It seems to me that the rate I was charged is highway robbery. Do I have any recourse? Desde já, obrigado. Andy

You can always use the complaint process outline by the FCAC here. They usually want you to try to resolve the issue with the issuer of the card first.

If you’d like you can send us your cardholder agreement and we can have a go at reviewing it ourselves. If you don’t have the cardholder agreement, you can give us the name of the issuer (on the back of the card) and the name of the card and we should be able to find the cardholder agreement. Also please send the date on which the transaction was posted and made. that will allow us to determine what the issuer committed to charging you in the first place, and what you ought to have been charged that day.

If we find something obviously wrong, we can recommend alternative recourse.

Look forward to it Andy.

Thank you, greedyrates, false alarm. After further “processing” and without any complaints from me, they actually charged me an exchange rate (dated Jan 11) of 1.42 plus the 3% that the cardholder agreement shows as their foreign exchange fee. Maybe they take a bit extra at first until they can fine tune the charges. So, I guess I’m good. But I’m glad I found your website anyway for future info.

Regarding Gavin French’s inquiry of November 17th – i. e. Does the “no foreign conversion fee” amazon. ca VISA still include a 2.5 % fee by using VISA international exchange rates? & # 8211; the GreedyRates Staff did not reply. Do you have that information? Also in the article on ‘Avoiding Foreign Currency Fees’ you mention that Chase Canada has a no foreign conversion fee but as Chase is leaving Canada do you know if anyone will fill that gap?

Thanks for the kind words about GreedyRates! Please see our reply to Gavin French below. The quick answer is no, VISA does not have a 2.5% fee embedded in the rate it charges to the banks. You can actually see what exchange rates VISA has charged on any given day, between any two currencies here usa. visa/support/consumer/travel-support/exchange-rate-calculator. html/ .

First, it’s important to note, Chase has decided to leave the Sears portfolio behind. They haven’t left Canada yet – although it’s a pretty good assumption. But no need to switch your Amazon or Marriott cards yet. Second, Rogers MasterCard is the only other card that we know of that does not charge foreign transaction fees.

Look at the new terms on Roger’s credit card. They are ending the free rate conversion and adding a 2.5% fee. The exchange ride is over with them!

Rogers is still offers the best value on foreign purchases of any credit card in Canada. You will now be earning 4% cash back on foreign transactions. So in effect you will earn 1.5% cash back on foreign transactions with the Rogers MasterCard, when you net out the 2.5% foreign transaction fee. That’s still better than the Amazon card where you will only net 1% cash back on foreign transactions.

Espero que ajude,

What’s the CAN $ rate in India rupees today ??

GreedyRates does not provide foreign exchange quotes. Desculpa.

I see the following in Scotiabank’s website regarding foreign ABM usage:

“Foreign currency withdrawals from international ABMs will have their foreign currency exchange rate determined by VISA International on our behalf. A conversion fee equal to 2.5% of the converted amount is included in the exchange rate.”

They make reference to April of 2004 and say the VISA rate INCLUDES a 2.5% conversion fee. Is this fee embedded in all VISA rates and then added to by banks? Does the “no foreign conversion fee” amazon. ca VISA still inlcude a 2.5 % fee by using VISA international exchange rates?

We can’t find the reference you quoted above. If you could provide a link that would be great. That said, with respect to credit cards, we did place a few calls on your behalf and confirmed that Visa charges the banks a “wholesale rate” determined by “market participants” which should be “favourable” to cardholders, without charging a surcharge. In several notable Canadian class acion cases, it was revealed that the banks charge their 2.5% on top of the “interbank” rate, which is typically only available between financial institutions. That seems to also suggest Visa is charging a “wholesale” taxa. Only the banks are charging or not charging a foreign transaction fee.

Hopefully that helps.

I just spoke to Scotiabank yesterday and the agent confirmed that a 2.5% rate is charged in addition to the exchange rate on credit card charges.

Scotia, like the other big 5 banks, all charge 2.5% foreign transaction fees over and above the exchange rate on non-Canadian currency purchases. As far as we know, Chase and Rogers MasterCard are the only two Canadian issues not to charge a foreign transaction fee.

Note, the reference is with respect to ABM cash withdrawals, not credit card usage. But the issue is the same as they reference the VISA international exchange rate and the fact that that rate itself includes a 2.5% fee.

Is there any way to get US cash in Canada from a Chase Visa card?

I tried CIBC’s US cash dispensing ATM’s but no luck.

Não tenho certeza. Have you tried one of RBC’s 200 new U. S. dollar ATM’s they rolled out in Canada? Check them out here… rbcroyalbank/usd-2011/

very informative site, good job. cfh.

Cancelar resposta.

American Express Cobalt Credit Card Review 30 points per $1 spent Apply The NEW SimplyCash Preferred Card from American Express 5% Cashback on everything Apply Scotiabank Gold American Express Card Review 1st Year Free Apply BMO Air Miles Mastercard Review No Fee Apply TD Cash Back Visa Infinite Card Review Get 6% Cash Back Apply.

Notícias & # 038; Dicas

What Is Happening to the Canadian Stock Market and How Does It Affect You?

Hidden Credit Card Perks That Most Canadians Don’t Know About.

Improving Cash Flow Management with Credit Cards.

5 Cheap Valentine’s Day Ideas.

The Price of Love: Just How Much Should You Splurge on V-Day?

Is Raising a Child Cheaper in Canada or the USA?

No Foreign Transaction Fee Credit Cards and US Dollar Credit Cards: What’s the Difference.

Best ATM or Credit Card For Foreign Travel?

Just because you’re overseas on vacation, doesn’t mean you shouldn’t still pay attention to fees. Visa and Mastercard charge a standard 1% “conversion” fee on all foreign transactions ( even if they are in US dollars!.) Many major credit card issuers charge you up to another 3% on top of that. Por quê? Porque eles podem.

But by selected the best credit card in your arsenal, you can minimize the damage. Flyertalk has a great resource listing all the card issuers and the rates they charge. Don’t forget to also take into account the cashback program of your specific card, as you’ll still earn it on foreign purchases.

Citibank charges the 1% Visa/MC fee and 2% extra from themselves. Overall basic surcharge: 3%. Same for Chase and Bank of America. If you get 1% cashback, that’s still a 2% overall surcharge.

The best card (neglecting cashback) may actually surprise you. It’s Capital One ! Although they are known as a subprime lender, they generously waive the 1% Visa/MC fee and they don’t charge their own fee. Overall basic surcharge: 0%.

The best thing is that I have an old Capital One card with a grandfathered-in rewards program that gives me flat 1% cash back (only credited annually, though). I don’t use it regularly because I can always do much better with 2-5% back.

But on trips? 1% overall cashback with Capital One is the best deal I’ve got.

Just like here, you have to worry about ATM fees both at the ATM you actually use and the ATM card issuer. According to the FlyerTalk table, for me the best bet is probably my HSBC ATM card. If I find an HSBC ATM, I would only pay the 1% conversion fee. If I don’t, I just get charged an extra $1.

Bank of America is horrible as it charges you $5 a pop, but if you can find one their affiliated foreign banks you get off with no fees. As usual, if you use a bank that does ATM rebates here is where you’ll be glad you did.

In general, I’m going to try to pay for everything with credit cards first (just like at home!) for security and the 1% cash back. After that, I’ll also carry a decent amount of cash with me, and then use an ATM if I need to reload.

I rarely usually use traveler’s checks anymore. It’s easier to find an ATM these days than a place that takes traveller’s checks. I’ll have backup cards hidden in different places in case something gets lost or stolen.

Compartilhar isso:

Comentários.

I’m not so sure about Capital One waiving the 1% visa/mastercard fee. Did you call and ask, or are you basing it on FlyerTalk?

I called them to ask about 6 months ago, and they told me it was 1%. I have the No Hassle Rewards (1% cashback) card, so I don’t know if that’s different.

Hmm & # 8230; I know it was true sometime in 2005 when I went to Canada, but I haven’t called since. Dangit, another thing to add to my ToDo list!

I just called them. The guy said “we do not charge any fees for foreign transactions.” I asked him about the Visa/MC fee, and he said I’d have to ask them about that, and that all he knows is that CapOne does not charge any fees. Hmm & # 8230; Still, 0% overall isn’t bad.

Good thing is that I also asked him to put a notice that I’ll be travelling overseas so they don’t put a fraud hold on my card while I’m over there.

If you are customer of Bank of America you should check out their partner banks (no fees and the standard exchange rate). In my opionion the very best way to go – I use it for regular money transfer – as long as you have access to one of the following banks:

Use your ATM card or Check Card within our Global ATM Alliance in the countries shown with no fees.

Barclays (United Kingdom)

BNP Paribas (France)

China Construction Bank (China)

Deutsche Bank (Germany)

Santander Serfin (Mexico)

Westpac (Australia and New Zealand)

You forgot to mention that MBNA cards are only 1% over as well..

Good luck on the trip. In my travels in China/Japan I relied heavy on HSBC ATMs.

Here are some other money tips:

-Carry a lot more cash than your use to. I never carry any cash in the US (use my credit cards 99% of the time); but espically in China very few places take credit cards. I hear more places are taking them now due to the Olympics.

-ATMs in China (that could connect to big US/international banks) were always hard to find for me. Don’t expect them everywhere.

-Worse case keep in mind hotels usually have a service to pull money from your tab for a 5-8% fee. They will just add it to you bill and will get billed to your credit card when you checked out.

hmm you know in the other post you mentioned bringing cash to exchange at the bank, I really dont know about how favorable those exchange rate may be, or rather the ridiculous fee for non-members. Hotel I think is another big rip, with totally unfavorable exchange rate.

Here’s another idea that you probably have done already, but just in case…

When I was in Paris on vacation, after getting tired of being ripped off by the exchange rate, I saw a peking duck store. So I asked the lady if she can exchange some USD for some Euro for me. The rate she quoted me was far better than any other rates I have accessible to me, so I promptly exchanged the majority of my money with her.

I’m sure you can also find some local business that have no trouble exchanging your US dollars at more favorable exchange rate, if it comes down to it.

Ah, if I only knew about ATM cards then. I would have gladly ate the fees for the better exchange rates.

cash is the king in asia. exchange rates for credit cards suck big time… u may wanna convert cash in the local banks there instead…

I have a Bank of America checking account and travel to Europe once or twice a year (I am a native German). I picked Bank of America specifically because of their no-fee ATM affiliate network, and their great online banking. 🙂

I am about to go away for a year and Capital One is the way to go. I use CitiCards normally but when I am overseas, it’s all CapitalOne.

Responding to your post a bit ago about Bridgeway. They offer steller funds. too bad 90% of them are closed because they are some of the best in the business. I own BRSIX and while I bought it recently before the market downturn so I’m not doing so well, I was happy to find a bridgeway fund I can get into before they close it! I highly recomment this fund. great returns, good small cap pick, and low expense ratio.

I have an account with Compass Bank, and their advertising pitch is that any ATM, anywhere on the planet, is free. They don’t charge you, and if you keep your receipts and send them in, they’ll refund the fees that other banks charge you. Their website is compassweb.

Thanks for all the tips! Too late to sign up for new banks now =) Gotta go with what I got. China Construction Bank for BofA, got it. Wrote it down on my ATM card.

Thanks for the tips, Jonathan! We live overseas several months out of the year and just by doing the math, I have always thought that our Capital One GoCash Card was the best one for overseas purchases, but it is nice to have confirmation. Just like Matt stated above, we usually use Citicards for everything in the USA, but switch to Capital One when we are out of the country.

Capital One offers 1.25% cash back now after registering with its No Hassle Cash program. The web page to sign up is running, but it still has some problems. I tried to sign up today and it complained about my birth date (hope it doesn’t think I am too old :)). In addition, there is a $5 bonus signup.

As far as foreign travel, Capital One appears to be the best choice considering that there is no foreign transaction fee. Another card that doesn’t have fees on transactions abroad is Discover, however not too many places accept it.

I go to Canada often enough that I just carry cards from Canadian banks, denominated in Canadian currency. It’s handy, and I do my conversion once, at the end of the trip, to cover everything. I keep some Canadian money in ING Direct and TD Canada Trust.

If you do go to Canada often, the rumour mill has it that TD BankNorth will be offering accounts with free wiring between TD Canada Trust accounts in Canada, and TD BankNorth accounts in the USA.

My Charles Schwab Visa (MBNA) hasn’t charged me a currency fee here in Australia. It’s also a flat 1% back card.

My HSBC ATM card is tied to my HSBC Direct account, and I’m getting free ATM withdrawals at every ATM and my exchange rate is the best I’ve seen.

I used Capital One Visa for a six month trip in Latin America and never got charged any surcharge. As far as waiving the 1% fee that Visa charges… Visa tacks this on before the charges are reported to Capital One, so I don’t know why people have said that those charges could be waived. Also, check out E-Trade Bank, as they charge no fees for ATM withdrawals, and also refund ATM fees charged by other banks. You just e-mail them if the fee isn’t refunded automatically.

I just got my Capital One statement from a foreign trip. You were right, no foreign fees whatsoever. They even ate the 1% Visa/MC fee!

As far as I’m aware the penfed credit card is better than any I’ve seen mentioned. It doesn’t charge you a fee and even though it doesn’t waive the 1%, it gives you 1.25% back, so you’re left with making .25%. Not a huge difference, but still a better deal.

Has anyone here used the HSBC ATM card, that comes with their Online Saving plan?

How much in total will I be charged if I am using a non-HSBC ATM machine? Including charges from HSBC and surcharges from the machine owner.

I’ve heard its $0.50 if I don’t request for a mini-statement. But not sure if there are surcharges from the machine owner?

My uncle, who lives near the border, uses his e-trade ATM card in Canada. As mentioned, it refunds ATM fees. But an additional plus is that the exchange rate they give you is spot-on with the published rates for that day&time…

Prior to going to Europe for 9 weeks this summer(2006)I called Capital I to alert them that I would be using their card extensively. I gave them my itinerary and dates. I had used them in the past without a problem. This time it was a real disappointment! I received an e-mail from their fraud department to contact them and called from Europe and was on hold with no one picking up. I e-mailed them back, gave them phone numbers in Europe where they could reach me, and had my adult son call to explain. I even paid my bills immediately via my bank account to assuage their fears. All to no avail! They stopped honoring my card.

Just a follow-up, I did not get charged the 1% fee while in Europe when using my Capital One card.

I bought a capital one card as a result of this page (and a few others) for traveling in South America. It worked wonders in Argentina — no extra fees at all, as described.

Here’s where it gets tricky. In Peru, Ecuador, and Bolivia, it was very difficult to find vendors that accepted credit cards with no additional fee. Some places would tack on a 7% surcharge for using credit cards!

Furthermore, Washington Mutual charged me $3 a pop for using int’l ATM’s, on top of the 1% fee. I had asked them about charges and they neglected to inform me of this before I left. Hope this info helps a future traveler.

My experience with HSBC has been horrific. First, I fill out their online application. Then, they send the card. I activate it. I try to use it at a store. It gets declined – I’m humiliated. I call and am told it is on a “security hold” because they want me to produce several pieces of “proof” that I am who I am. The specific documents they require are impossible for me to produce, as those bills are not in my name. I can produce plenty of documentation proving who I am; however, they’ll only accept what they want. I’m all for security, but this is ridiculous. I called today to just have my account canceled. They told me I CANNOT CLOSE MY ACCOUNT UNTIL I PRODUCE THE DOCUMENTS. I informed them that they are holding my credit hostage and they just don’t care. You need to research HSBC because there are a lot of complaints you can find online about them. Faça sua pesquisa. I wish I had.

I opened in Hungary an OTP account. With this Euro denominated Credit Card account I can use my credit card within Europe (21 Countries) without paying any fees.

Does anyone know of a bank with a partner agreement with Bank of Ireland?

I’m in Thailand most of the time. Credit cards and ATM are easy to use in all cities, cash needed in small towns and small shops.

My current experience:

& # 8211; Capital One is 0% foreign exchange fee and give market exchange rates.

& # 8211; WaMu ATM withdrawals are 1% foreign exchange fee and market exchange rates.

& # 8211; Citibank ATM withdrawals are 3% foreign exchange fee.

Some merchants here will add 3% to credit card purchases for credit cards not issued by Thai banks. Many do not do this so take a pass on the ones who do.

I just received a new notice of fees from Washington Mutual. Their “new” fees for use of a “non WAMU” atm are $2.00 PER USE domestic and international. There still is the 1% fee charged by Mastercard.

Generally, I use a Credit Union Star ATM card that tends to give me better exchange rates and no fees. I also used the Fidelity Visa Card associated with my brokerage account because it had no international fees and 1.5% cash back to my brokerage account, but they just sent me a mailing that announced a 3% foreign transaction fee. I am now looking for a new card, and intend to close all my Fidelity Accounts, including the Credit Card, Brokerage, and Retirement accounts. They are going to lose thousands of dollars a year in fees as a direct result of a credit card charge that would amount to about $50 a year.

Capital One have a limit on cash withdraw per day.

I just called CapitalOne Canada and they told me it’s 2.5% foreign currency conversion charge. It also says the same on their website. On this blog I assume most people are talking about American cards – it seems the Canadian cards have different charges associated with them.

I have an REI Visa, issued by U. S. Bank. Great rewards program if you’re a shopper at REI. Big problem, however, is they take anti fraud a bit to stringently. Like a previous poster, I informed them of my travels overseas and the dates. When the hotel tried charging a security deposit as required to hold the reservation, it was declined as a security hold. US bank never tried to even contact me. Reservation would have been lost had I not contacted asking why charge hadn’t shown up on stmt. If I didn’t have another card (Chase United Airlines), I would not have had a place to stay. US bank never even apologized but more or less told me this is how they do business. I’ll be leaving this card at home for all my international travel!

For two days I have been talking to customer service reps and scouring websites to find the lowest possible fees for handling money overseas. The process was so grueling that at one point I considered buying American Express traveler’s checks in order to “keep it simple.” But then I learned that in all of Kansas City, Missouri there is only one American Express office, and it’s way out in the burbs, nowhere near local tourist sites. Rome, Italy? There are three offices, and for all I know they too are in the burbs. If I was lucky enough to find a European merchant who’d take my AmEx traveler’s checks for purchases, I’d most likely have to factor in the merchant’s surcharge.

Based on my research, here’s my new three-pronged approach: Capital One Visa card when there’s no merchant surcharge, cash for everything else using a Schwab Bank ATM card, with Bank of America ATM card as backup.

1) As of today, Capital One Visa says they still have 0% foreign surcharge as long as I use the card for purchases, not cash advances.

2) Bank of America ATM card has just the 1% conversion surcharge and no transaction fees as long as I stay in their network, which is extensive.

3) Charles Schwab needs to cancel their scary paint-by-number pod-people TV ads and start a new campaign: Schwab is heir to the Traveler’s Friend throne that AmEx has totally vacated! With an Investor Checking account (no minimums, no fees, free checks and pays a generous 4.25% in interest) I can get an ATM card that has no fees whatsoever. No foreign exchange or conversion fee. All–and they mean ALL–ATM fees are refunded. I asked about any Visa/MC fees, and they said no, there are none. (I already have a Schwab checking account, but I’m going to open a second account just for travel expenses.)

Am I wrong on anything? If so, please correct me. Obrigado.

A real save credit did not exist until today. Complicated gadgets did not help at all. Dragon Credit Card Network offers the first safe and secure use of credit cards online and elsewhere. Contact your local bank and ask for details.

Schwab bank fine print says: ATM fees refunded up to first 6 transactions, up to $9, each statement period.

Capital One credit card: LOVE for travel due to no fees for credit card purchases. However, you HAVE TO CALL BEFORE you leave the country and specify where you are going and when, otherwise their fraud department will freeze the card, easily, requiring a gigantic hassle of several overseas calls to attempt to unfreeze it. I went through it.

Does anyone know which Capital One credit card offers 0 foreign currency surcharge? Is this effective in all cards? Thanks everyone!

thought this might be relevant here.

There was lot of discussion going on SD regarding Credit Card (MC/Visa/Diners Club) Foreign Transaction Fees lawsuit.

However I am still not sure if it scam or legitimate.

Any one herd of this.

This real and have a read. I lived in Japan from 96-99 and travel overseas extensively from 99-05. I have filed and it will be significant.

Actually credit card companies are not allowed to charge a fee for using their card overseas. I just received the paperwork to settle a claim against the credit card company that I used because of the charges from using the card in Canada. They make billions off of us every year, don’t let them take you for more money!

Just wanted to give some data. My wife is in London, England, and has both our Bank of America ATM/debit card (linked to a checking account), as well as a Capital One Platinum Mastercard.

I just had a chance to compare the exact exchange rates for similar purchases on the same day.

Capital One Mastercard, charged GBP 269.00 on Dec 19, 2009. Showed up as 542.39, a rate of 2.016319…

Bank of America ATM card used at a London Barlcay’s bank (in network): withdrawal of GBP 200.00 on Dec 19, 2009. Showed up as $403.26, a rate of 2.0163.

This comparison only applies to purchases (not cash advances) on the CapitalOne credit card vs in-network ATM withdrawals (not purchases) on the Bank of America card. But they come out the same, which surprised me as I thought the BoA ATM would have an extra 1% currency fee in there somewhere.

I’m hoping some one can help me figure this out. I live in Germany, but I have a U. S. bank account, and am paid in US dollars. Today I discovered that the foreign exchange rate that my bank has – HSBC – is really very different (ie very BAD) from what the established daily rate is on the stock exchange. On my bank statement, 500 euro withdraw = 764.60 USD on 1/16. But when I look at what the dollar is trading at then, 500 euro should be 739USD. So I am getting charged 24USD with this terrible exchange rate, which is actually invisible, unless you bother to check.

I called HSBC, and got three different people who gave me three different exchange rates for today’s dollar, which makes things event more confusing. Why can HSBC charge me such a bad exchange rate? I thought banks had to have the same? And does anyone know of a bank that has a better exchange rate?

HSBC tells me that the Cirrus system used by them now charges a 3% fee. I am off to the Pentagon Federal Credit Union that absorbes the Cirrus fees.

Well Pentagon Federal Credit Union sounds great – if you are associated with the military in someway. I am a journalist – so do not meet any of their requirements. Anyone know a bank that does not charge these fees? It is more than a little depressing to watch my salary plummet. Eesh.

You can join Pen Fed if you join the National Military Family Association. It’s a one-time $20 membership fee and anyone can join.

Capital One No Hassle is 0% forex fees. I’ve been using it in Brazil for the lats year.

Just an update about Compass Bank and ATM charges. They may have said free anywhere in the past, but now….

“When traveling outside of the US, there is an International Service Fee (ISF) that is added to the total transaction amount when posted to your account.

For signature-based Check Card transactions, cash advances and PIN-based purchases, this fee will equal 3% of the transaction amount. For PIN-based ATM transactions, this fee will equal 1% of the transaction amount.”

So looks like you are being hit with a 1% fee. And yes, that does add up. As an employee of an American company, being paid in America, and accessing my paycheck monthly by ATM….yes, 1% is a good bite.

TDBanknorth has the best , you can use their atm/debit card all over the WORLD for free! They rebate all those fees at the end of the month. It’s a free, no minimum balance checking acct, plus awesome online banking to boot! Visa charges the 1% conversion fee, unavoidable. Oh yeah, and they just bought Commerce Bank.

One alert worth noting:

I used to travel with my Citibank ATM and used the many Citi locations in Germany, Spain, Belgium, etc., but now they are charging 2% fees for everyone except “gold” clientes. So, it is always good to check in and see if things have changed at your bank. Why not just charge us a flat fee for services like these!? My Cap-One Visa was still not charging conversion fees so I was happy about that.

I remember traveling in Italy in 2003 and having NO CHARGE at all when using my US ATM card.

Some of the info given here is really nice and I have a card from some of those spoken here. Yes, the 0 rebates and no charges are fine and we think this is ok, but most over look the banks conversion rates. ALL Banks are making a serious killing converting your money into the foreign countries currency. I’m a consultant in Europe and I been here for over 25 years while maintaining my home office Business in the US.

Thanks for all the information, it’s really going to help me.

I being sent an ATM card throught your bank I will sent a fee to the following address and attention to the following person. Does he work for your bank name Ayodele Omilabu at Hsbc plaza nunhead london England, SE 15 3xl.

CHECK YOUR FACT BEFORE YOU POST.

someone above said it that Bank of America has joined a Global Alliance with foreign bank just like airlines. No foreign ATM fee and exchange in market price.

feel so bad that this come quite high on a google search.

BofA is only free of ATM fees for the following banks:

* Barclays (United Kingdom)

* BNP Paribas (France)

* China Construction Bank (China)

* Deutsche Bank (Germany)

* Santander Serfin (Mexico)

* Westpac (Australia and New Zealand)

re: Capital One. I know it’s all over this commentary, but I was wondering if the not conversion fee also applies to Capital One DEBIT cards (i. e. if you bank with Capital One Bank, which I do). Obrigado. I’m going oversees shortly and I just bough a ticket from a foreign firm and I noticed a large fee on my statement, which I really, really hope to avoid in future. Also, I’m going to Europe for.

5 weeks and I haven’t been there in a long time. To they have systems in place to accept my debit card as with my PIN number for POS purchases or do their systems not jive with American systems? Obrigado novamente!

Hi Jackie, you definitely can’t use U. S. debit cards (as in enter the pin at checkout) in Europe. The only debt system they have set up is based on the EC card, which you have to get through your European bank account.

The best thing is for you to just make a withdrawal at an atm with your Capital One card (which will save you on this hidden conversion rate fee that your other cards will charge) and pay in cash. Or use your card as a credit card (though many places off the tourist track don’t take them).

You should probably also call your bank and let them know you are traveling, or they’ll flag your card and get it declined.

Jonathan, for the China Construction Bank, what PIN is needed.

I heard that their ATM requires six digits and BOA has only for here.

Obrigado por este post. I’m hoping that CapitalOne still doesn’t charge.

I’m going to Italy in a month and was bummed to find out that my special “no foreign transaction fee” credit card account had been closed (I haven’t used the card in years). I was resigned to paying the 3% transaction fee on my regular card, but I have a back up CapOne card I’m going to check on. I just assumed they would gouge me too.

thanks again, steve booth.

I have been using my Capital One card in the UK… it’s been tricky to find places that accept non-chip-and-pin. So yes, no fees, but good luck using the card in most places. Also, I was just blocked from online purchasing by the SecureCode implementation and can no longer book travels online… which in the UK can mean paying more than TRIPLE the cost when paying in person at a ticket booth, and that’s not even including the credit card fee that most places charge to cover their costs with the cc companies.

There’s no way to contact the CapitalOne service people unless you enroll in their website.. which requires information that’s locked away back home in America. So basically the card is useless now.

Many good reports on Capital One..Thanx.. Have been very disgusted with citibank the last year; and am looking for a better option for atm withdrawals in So. Amer. citi has lots of locations in say Bogota’ yet my statement shows a “non-citibank transaction” when I use an ATM to withdraw cash with their debit card.. citi atm card in citi branch yet the transaction gets stuck with a 3% transaction charge and a very low exchange rate—about the same as amex trav. checks.. Not any where near the official rate as published daily by Bank of the Republic.. One would think that given all of citibanks excessive fees their stock would be much higner than the penny status they now find themselves in..too big to fail, huh, and still feeding at the taxpayer funded government trough….the news media talk a lot about the global economy…I guess that is for big business, and let the individual traveller pay the freight for bigbiz…kinda like most water companies where the individual uses 3% of the water and pays for 90%..Hooray for Jesse James.

I have been reading the posts on this page and I had a question for anyone who thinks they might have some advice. I will be living in Spain for 2 months this summer. I am trying to figure out the best way for me to take out money without being charged outrageous fees. I have a citibank account and a chase account right now, but I wanted to know if anyone has any suggestions as to another bank who has a decent presence in Spain(Madrid specifically) where I wouldn’t be charged fees each time I take out money. I know that Citibank has lots of branches within Spain, but I wanted to see what other people might have to say. Obrigado!

Opened CITI debit assured /checking account today. Assured of of Paris ATM, given address. Not so, Googled and found they moved years ago, but no longer listed. Went to CITI online, checked ATM locator, yes in 40 countries, none in France. Called CITI at 800-321-CITI. Representative assured me they have no ATMs in Paris. Emptor de advertência.

I have been using the Charles Schwab VISA (INvest First)

and there has been no transaction fee and no VISA forex fee in China or in Europe. I travel to both frequently and this has been a lifesaver and $/Euro saver.

I also use the First Republic Bank ATM card (See Rachel Woldelaise and say Jason C. Sent you at 8th avenue and irving in san francisco). There are NO FOREX and NO ATM fees charges anywhere in the world. I love this! Even if the ATM says they will charge you $3.50, FRB will refund it to you. I have used this over a year now in China (Shanghai) and Hong Kong, Sydney, Paris, Bali, London, and Munich and many cities in the USA and NEVER a fee! and the exchange rate is only 0.1% (yes 1/10th of apercent) different from the posted rate I see in the newspaper or internet .. and WAY better than at money changers.

the flyerguide now lists HSBC as having a 3% fee, with a link to hsbc’s site which seems to confirm it. looks like that’s not the best option available anymore.

thanks jason chu for the first republic bank recommendation!

Some local credit unions (which are generally much better for service and ethics, anyway) give refunds of ATM fees anywhere in the world, for example, the SF Fire Credit Union in San Francisco.

In China, you can use discover Card. Ask cashier conduct transaction through UnionPay, no transaction fee at ALL.

Trackbacks

[…] my post about the Best ATM or Credit Card For Foreign Travel?, Capital One was a promising option as it had no issuer-based foreign currency surcharges, unlike […]

[…] These are a parody. I am actually a satisfied customer that has used a CapOne credit card for international purchases for several years. But hopefully they’ll realize that bland PR talk does not make […]

[…] And here is the page that talks about Capital One, with several commenters testifying that Capital One is the way to go: mymoneyblog/which_atmcredit. html […]

Diga sua mente Cancelar resposta.

Oi! Sou Jonathan e venho dividindo dinheiro desde 2004. Pai, investidor autodirigido, entusiasta da liberdade financeira e aprendiz perpétuo.

Atualizações diárias por e-mail.

Junte-se a mais de 13.000 assinantes:

Pesquisa no site.

Contact Me.

Categorias.

Categorias.

Conecte-se comigo

Divulgação do anunciante.

Copyright & # x000A9; 2018 MyMoneyBlog. Todos os direitos reservados.

MyMoneyBlog é apenas para fins informativos. Não tome isso como aconselhamento legal, financeiro ou fiscal para sua situação pessoal.

Taxas e termos definidos em sites de terceiros estão sujeitos a alterações sem aviso prévio. Por diretrizes da FTC, MyMoneyBlog tem relações financeiras com os comerciantes mencionados. O MyMoneyBlog é compensado se os visitantes clicarem em quaisquer links externos e gerarem vendas para o referido comerciante.

O conteúdo editorial deste site não é fornecido pelas empresas cujos produtos são apresentados. Quaisquer opiniões, análises, avaliações ou avaliações fornecidas aqui são de responsabilidade exclusiva do autor e não foram revisadas, aprovadas ou endossadas de outra forma pelo anunciante.

Obrigado por apoiar este site de propriedade independente.