It kinda sounds like Capitol One is the nicest about international use, one of the few that does not charge a commission. I did some site reading it and it sounds like Visa & MC both charge all banks 1% for such, but CO and a handful of others absorb that, with USAA and other US federal cards only passing that along, but most banks' cards charging 3% if
this list is correct? Had to wonder why CO doesn't even pass along the 1% fee tho.
I've looked all over
https://www.capitalone.com/ and cannot find currency conversion rates? I found a few customer claims on some sites that CO hides their fees in unappealing conversion rates, but then you can find anything on the net.
Now I'm really curious?
The Mexican Peso has been pretty close to 0.08 USD (or about 12:1) for almost a year now...
I remember being surprised by that 10c peak in August 2008 during some travel on the peninsula. Then my bud stuck me with 2,000 Pesos at the end of that trip which I held for my next return in early 2009 for dental work in Cancun, with my Peso stash getting hit by the 7c crash = 30%/$60 loss. :silly: Good that it's settled out now.
I'm curious what CO is really charging your customers?
Today,
Wall Street Journal is quoting 0.0810 or 12.3472 Pesos/Dollar.
Wells Fargo is quoting their 0.0881 - about 8.8% less.
That's in addition to their 3% fee.
But what
is CO really doing?
Can anyone find CO's conversion rates online? I don't think your online statements will show it from what I read, unless you download to PDF.
I'm surprised that Blue Angel still takes Traveler's Checks. They've almost vanished from the scene with today's high quality printers and counterfeiting. No one around here would take the last ones I came home with, and WF has stopped selling them.
Cash will always be king I think, altho is suffers with quality printers and counterfeiting - but the merchants don't get stuck with 3% credit card sales fees, and there is probly more to that story.