Foreign Exchange

[Bedsit]

Hello,

I have a query with regards to using a Euro credit card in the US versus converting Euros to US Dollars. From what I can see my bank charges 2.75% on every non-Euro transaction on my credit card. So my question is if I were to change Euros into Dollars before I travel, would I be better off?

Also, would anyone know what is the typical commission/difference is between what the inter-bank rate is and what the banks give to end customers?

 

[jpd]

2.75% commission is quite a good rate for this type of transaction - some banks charge 3% or even more.

Some banks don't charge for cash withdrawals in a foreign country if you use a partner bank ATM. In this case you could withdraw dollars and pay cash for your purchases. Check with your bank.