Currency exchange online tickets

Maybe Capital One is hiding a phantom Foreign Transaction Fee ( which they claim is 0%) in an inflated exchange rate? Do they really not discos the conversion rate on the statement? That sounds fishy to me.

That is a 5% difference. What exchange rate does it show in your credit card statement? Your credit card statement, by law, is required to show the exchange rate AND the additional fees charged by the credit card company. The exchange rate that you looked up is the average interbank rate for that day. The exchange rate for the credit card should be closer to 1.34 and you were charge 1.40. Your credit card company needs to explain the difference. And that difference could be the fees charged by the credit card company but they are required to disclose that.

Thanks Frank. I will contact the credit card company as I do not see the detail disclosed on my statement. Supposedly this credit card (Capital One) is supposed to waive the extra fees) I'll let you know what I find out. S

Well this gets stranger and starnger! I went online today the amounts have been corrected. Either they caught a mistake or they post a provisional fee of some sort until the transaction settles. I printed out a copy just to be sure. Still I wonder why the rate is not showing.

Are you looking at an internet posting? I still get paper copies and the credit card are required to slow the rate of exchange that they received from the network ( PLUS). The network rate will be approximately one percent or a little less over the interbank rate for the day. The interbank rate changes minute to minute so there is never a single rate for the day. At best it is average for the day,.

Thanks again Frank! I was wondering that. I'll be sure to check the paper copy. It should arrive soon. In the meantime all looks good but I think I will call them just to clarify the whole process. I am new at this so thanks for being so patient.

Interested to hear how this turns out. I have used Cap One within Europe, but just made an online purchase for an upcoming trip myself. I'll look at my transaction, too, and let you know. They've always had pretty good exchange rates and no fees in the past.

Hi, Sue. I just got around to checking the online purchase that I made with my (Cap One) credit card. The exchange rate used by them is the posted exchange rate for the date that I made the transaction (3/29) and it is listed in my statement as Currency: Eur Exchange Rate. Interestingly, the transaction date shown on my credit card statement is 3/31 which may be when it was posted to my account, but the exchange rate used was the actual day that I made the transaction online (which is what I expected). Probably a good idea to watch considering what happened to you.

I recently bought a €29 Savings Fare ticket online from the Bahn using my credit card. The price with a $1.314/€ exchange rate (shown on my bill) was $38.11. They passed on 38¢ for the exchage rate discount (1%) charged by the network. I used my card from 1stBank in Colorado, a small, local bank without a foreign currency operation. The day of purchase (4/5), Oanda showed the Interbank exch rate to be 1.318. When it posted the next day, the rate was 1.311. So, apparently my local bank charges less than Capital One. What's in your wallet?