Europe Forums

Post New Topic

Recent Activity

View all Europe activity »
  1. 1 0nline : Gmail Tec*h SUPP0RT CONTACT 1:844:291:6706 gmail 24*7
  2. 2 Cycling Nice into Italy along the coast
  3. 3 Lonely Planet‘s Best in Europe list-your thoughts please
  4. 4 Villa in Italy
  5. 5 Renting a car for France thru BritishAirways.com instead of AutoEurope
  6. 6 Ireland base towns (and timing) - Connemara/W. Cork?
  7. 7 Paris advice with kids
  8. 8 International drivers permit
  9. 9 Visiting Positano and Amalfi
  10. 10 Cap Ferrat, Antibe, Luberon?
  11. 11 8-days in Greece, Rhodes or Crete?
  12. 12 Worst flight booking with edreams
  13. 13 Paris travel help
  14. 14 Anyone stay at Homeaway: Villa Iride in Praiano, Amalfi Coast?
  15. 15 Time to tell on yourself (embarassing travel stories)
  16. 16 Allocating time in Barcelona - Gaudi tickets
  17. 17 Getting to Eilean Donan Castle
  18. 18 paris hotel easy commute to Palais de Congres
  19. 19 Châteauneuf-du-Pape Wine tours and Luberon Wine Producers
  20. 20 8 days vacation to Switzerland & Austria
  21. 21 One night in the Dolomites
  22. 22 Favourite Alpine and Mediterranean place?
  23. 23 Airport Transit Visa
  24. 24 Need advice on multi-day, multi-museum private tours in Paris
  25. 25 Where in Greece
View next 25 » Back to the top

Beware - American Express Card Foreign Currency exchange rates

Jump to last reply

I know I'll get a lot of torment from seasoned travelers for not knowing this already. I'm sure you'll point out that its been discussed to death on this very board, but I'm still going to post in case there are a few other clueless shoppers left in the world.

American Express charges 2% of the transaction amount as a service fee to do foriegn currency exchanges on your card. Now this isn't ordinarily a big deal - a few cents on a $20 purchase or a few dollars on your Mexican hotel bill, but I just bought additional time share at my condo and they charged me several hundred dollars to process the transaction.

No need to chastise me for not reading my AmEx contract. I know somewhere in the fine print it says I agreed to this fee. I know I've paid it before on small purchases never even realizing it was more than a fluctuation in the exchange rate. What upsets me is in the marketing of an AmEx card we are told that they get "the most favorable" exchange rates on foreign currency. Implying that that great rate is passed on to the card member. I could have gotten a better exchange rate at the hotel front desk than what AmEx got for me after they took their 2% swipe.

So here's my point. If you are going to make a large purchase or pay a large hotel or cruise bill, think twice about how much addtional that will cost when you get home. I think this policy should be changed. It doesn't cost AmEx any more to process a $10 transaction than it does to process a $1 million transaction. To charge a percentage rather than a flat transaction fee is a real rip off to card members. And please don't tell me that all the card companies charge this fee, or that I should feel lucky that it wasn't more. Its still a rip off.

Mr. Barry Arnold
Sr. VP Customer Serv.
777 American Expressway
Ft. Lauderdale, FL 33337

will get a letter from me regarding this policy - asking that it be reconsidered. And I won't make the mistake of using my AmEx for foreign currency transactions again.

17 Replies |Back to top

Sign in to comment.

Advertisement