Quote:
Originally Posted by stevem
Foreign exchange fees are imposed on transactions by external sources, so I cant see Wizard absorbing these. As you say your exchange rate seems a tad lower, they will get you somehow. Nothing is free when it comes to bank/finance nazi's.
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Quote:
Originally Posted by Bello Uomo
Definitely no explicit FX fees Steve. Have been using the card already to buy stuff from overseas.
But as you suggest, they could be 'disguising' a fee by dealing me at a less attractive foreign exchange rate.
For info, I made two online purchases in THB on 24 October, and I got dealt at 26.95THB per 1 AUD.
I am not sure how that compared with CBA, Westpac, NAB etc..
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Generally there should not be any fees when buying as the merchant pays a percentage commission to the card franchise.
ATM is another story where a fee may apply at either or both ends. In the US there are more and more banks that offer rebate on fees imposed by other banks. TD Bank is one. I asked my bank and they said that competition will soon force them to do the same.