Quote:
Originally Posted by Stardrifter_WA
Using a credit card you do get that rate, however, if you have a closer look you will also find a International Transaction Fee.
However, when you actually buy cash from a money exchange, or a bank, you buy at a lower rate, to cover their fee. Although, some exchanges also charge a set fee, so you need to watch that.
Make no mistake Renato, you don't get the exact amount, as there is a cost for that exchange, whether through a separate fee (International transaction fee) or a percentage of the rate. But you do pay to exchange money.
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Some credit cards like the 28degrees International card (GE) have no international transaction fees, currency conversion fees and annual fees. It also didnt have cash withdrawal fees until this year (people kept loading it up with money and withdrawing it overseas).
It uses the Mastercard rates which is pretty good. Current rate:
Mastercard - 0.85650
XE.com - 0.86332
I maxed out my card when the dollar hit around $1.10.