Master card USD daily exchange rate master

祈願文

is there any site/information which we could find out the daily usd exchange rate that master card charges?

Lik

From my experience, Master Card usually charges an extra ~2 - 3% in their exchange rate.

B2L2

$15 to $35 foreign exchange fee for USD?  Which card is that?

Lik

Don't try it, the rate is even worse than local banks.

On top of that, you may need to pay foreign exchange fee, which
can be anywhere from $15 to $35 for each transaction.
fy789 發表於 2011-5-26 12:32

Never had this foreign exchange fee bs happen to me before in any of my various VISA and Mastercards. An exchange rate that is around 2-3% worse than the current going rate is all I've ever been tagged with.

-Lik

blue20ae

The exchange fee is for all foreign currency, not just USD.  Here is an extract on the information disclosure from MBNA, as an example...

Foreign Currency Conversion        We will bill you for all transactions in Canadian dollars. Any transaction made in a foreign currency will be converted to Canadian dollars using the currency conversion rate established by MasterCard that is in effect on the date that we process the transaction. This conversion rate reflects the fee retained by MasterCard as a cost of performing the conversion service. In addition to the conversion rate, we will charge you a fee of 2.5% of the transaction amount after it has been converted.

If you do a lot of USD transactions, it is worth to get a USD credit card.

pkphilip

Look at the card agreement, usually the cost is the mid-market rate + 2.5%. It is also called the spread, almost all banks charge the similar rate at retail level.

Philip

Lik

There you go. You're talking about US credit cards mah. I have never seen this sort of bs from any Canadian credit cards at all.

-Lik