The rate used is either Visa or Mastercard whichever one is on your card - it is not set by Cap 1. This is regulated so you are assured not to get screwed on exchange rates using a card issued by a US bank unless you accept dynamic currency conversion when you pay (merchant charges you in USD instead of local currency and you wind up with the merchant bank’s exchange rate instead of Visa or MC’s rate). Cap 1 does not have any cards that charge a foreign transaction fee so that is not something you would have had to worry about.
2) Cap One CC worked well, and I think it converted at a good rate (one other person on our trip was using a different variant of Cap One card, checked the rate a little closer than I, and reported it was ~= "true rate"). Downside was obviously this is impractical with small vendors, and at least some merchants (taxis) added a substantial surcharge (10%) for CC.
Statistics: Posted by fullham — Sun Dec 31, 2023 1:14 am — Replies 14 — Views 1744