Thursday, July 15, 2010

Credit Cards & Overseas Transactions

Using one's credit card overseas used to be a fairly straight-forward process, nowadays however the banks are forever dreaming up all sorts of ways to charge extra transaction fees to supplement the cut they already receive from currency conversions.
Frequentflyer.com.au has some good forums on this subject and one post in particular provides an excellent link to the US based Mastercard Currency Conversion Tool.
This tool was created to assist Mastercard customers in Europe to comply with regulations that ensure transparency of exchange rate information.   MasterCard has extended the range of currencies to assist customers and their cardholders globally, so it's also useful for us downunder.

1 comment:

softwaresolt said...

Basically cash advances are never cheap,but the taking one overseas will incur a fee of four us dollars or up to 1.5 percentage of the cash withdrawn,and also interest will be charged immediately.
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