Hi All,
I went to the bank today to find out about a Master Card Travel card, where it is loaded with US dollars. This prevents me having to pay an international transaction fee on every purchase if I use my normal card.
However, when I asked how much US dollars would I get if I put $10,000 on this card?
The answer was a little perplexing. For AUD10,000 I get USD10,035
I would have thought that I would get closer to the exchange rate of 1.03 which should make it around USD10,000 but no, the bank only gives you 1.0035, as of today. What a rip off. I mentioned that the exchange rate is 1.03 something, so why don't I get that and bank didn't have an answer.
So, why have an official exchange rate, if you cannot actually buy at that