Last time I used my credit card overseas, the exchange rate used by my bank was rather high. Do banks make a surcharge for use of the credit cards overseas? In this respect are any HK banks better than the others?
Last time I used my credit card overseas, the exchange rate used by my bank was rather high. Do banks make a surcharge for use of the credit cards overseas? In this respect are any HK banks better than the others?
There is a 3-5% spread that the banks take advantage of.
Use http://www.oanda.com to estimate credit card rates.
HK banks are usually more unregulated than banks in other countries. If its an issue .... get cash or travellers checks.
Actually in many European countries travellers checks are traded at a lower rate than cash. I guess it's the cost of security!
Yes, but the exchange rate spread has gone higher in recent years. There was a time when credit card exchange rates were better than most, not any longer. ATM debit cards may end up the same way.