anat0l
Enthusiast
- Joined
- Dec 30, 2006
- Posts
- 11,669
How's everyone going these days for currency conversion (in cash at money exchange, using credit card)?
I used to use a rule of thumb (from street experience) in Brisbane that at a good money exchanger, most merchants were making 4% against the mid-market exchange rate (e.g. checking xe.com, oanda.com). These days, it seems that margin has crept up to 5-8% against mid-market, with 9-12% against for the less common currencies (not esoteric, but just not as regularly traded).
As for credit card exchange rates, they seem to have upped a bit on the exchange margin too, unless it's just me. I know that users of the 28 Degrees Mastercard regularly reported that they often seemed to draw at very close to mid-market, versus other credit cards (without taking into account the currency conversion fee on other cards).
I used to use a rule of thumb (from street experience) in Brisbane that at a good money exchanger, most merchants were making 4% against the mid-market exchange rate (e.g. checking xe.com, oanda.com). These days, it seems that margin has crept up to 5-8% against mid-market, with 9-12% against for the less common currencies (not esoteric, but just not as regularly traded).
As for credit card exchange rates, they seem to have upped a bit on the exchange margin too, unless it's just me. I know that users of the 28 Degrees Mastercard regularly reported that they often seemed to draw at very close to mid-market, versus other credit cards (without taking into account the currency conversion fee on other cards).