Latest responses to “List Of Credit Card Foreign Currency Transaction Fees” Copyright 2013, MoneyBlueBook.com 439450 2011-01-18T07:19:04-08:00 rudraksha Standard charted credit card have 3.5 % overseas transaction charge 439570 2011-01-15T18:35:15-08:00 dah Ithaca I asked the following question of American Express: "Please tell me the foreign exchange fee for the Platinum Delta SkyMiles card. Is it the same as for the Premier Rewards Gold card?" The answer was: "American Express charges a 2.7% Foreign Transaction Fee for converting foreign currency. When international charges are converted to US dollars, the conversion rate used is no greater than the highest official conversion rate published by a government agency or the highest Interbank conversion rate given by customary banking sources on the conversion date or the prior business day, in each case increased by 2.7%. The Foreign Transaction Fee charged on all American Express cards is same." How does that "highest official conversion rate published by a government agency or the highest Interbank conversion rate given by customary banking sources on the conversion date or the prior business day," compare with the rate I would get in an ATM machine? 439520 2010-11-26T21:06:33-08:00 Ted fleischaker How did you receive these messages? I have heard no such from Capital One. Amex has done this for years so that's not news, sorry. 439310 2010-11-26T11:00:57-08:00 Alex Just received a message from Amex & Capital One Card. They are now tacking on 2% for foreign currency transactions ;-((( 439340 2010-11-26T03:16:49-08:00 Alan In the UK, the 'Post Office' issues credit cards with 0% commission on purchases overseas. Does this mean they don't charge fees for foreign transactions, same as CapitalOne cards in the US? 439550 2010-11-21T06:29:28-08:00 askmrlee @Sam Van Fleet. Do you mean Capitol One the credit card or Capitol One Bank? Capitol One credit cards will charge you a cash advance fee for any ATM withdrawal, but no separate foreign exchange fee. Capitol One Bank will now charge $2 for the ATM withdrawal according to this report: http://www.shanghaiexpat.com/phpbbforum/capital-one-now-charges-foreign-atm-fees-t114349.html which states that free ATM usage ended on August 14, 2010. I cannot confirm this. 439530 2010-11-01T13:43:20-07:00 Sam Van Fleet Does anyone know if Capitol One charges a fee for cash withdrawals from an ATM? (ie, not purchases, but simple cash withdrawals). Thanks! 439460 2010-10-31T03:18:08-07:00 askmrlee @manitoban It it not the credit card network you should worry about shafting you on rates. My experience with Capital One and Fidelity Rewards Amex (FIA Card Services) is that their rates were the pretty much the same as the mid-market rate at xe.com on that day. 439470 2010-10-26T03:49:32-07:00 Manitoban After reading several comments about currency conversion fees here, it reminded me of a recent story of how Google Inc. avoids US taxes (billions) by moving profits to foreign countries. It now seems plausible this business practice may be affecting credit card customers who shop with online retailers when they incur a conversion fee without even knowing until the monthly statement arrives. If your curious about this practice, you can "Google" (haha) the phrases "Double Irish" and "Dutch Sandwich" My current issue with a credit card company is to do with the actual currency conversion rates they use. Although, I'm not happy with 2.5% fee I must pay to convert. MC says they convert the foreign currency amount to my home country currency on the day that the Merchant Posts or Batches their transactions. Well, how the heck do I know when the Merchant is going to Post my transaction and what the exchange rate will be on that particular day? I know what the exchange rate is the day I make my transaction. Lately, there have been large fluctuations in exchange rates with China and the US currency battle going on. It seems there is potential for CC companies to abuse this process and charge customers whatever daily exchange rate near the transaction date to make them the most profit. This Posting date process leaves the customer blind to how much their purchase is actually going to cost. This process needs to be regulated to protect the consumer in my opinion. 439250 2010-10-12T10:59:29-07:00 Chris The Schwab Visa was discontinued and taken over by FIA Card Services as of Oct 1 2011, but I can still use the same card. FIA confirmed there is no foreign transaction fee for me (Visa Signature).