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Do you use or rely on dynamic currency conversion upon cash withdrawals abroad whilst traveling? (piefed.social)
submitted 6 months ago by to c/asklemmy@lemmy.ml
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[–] 3 points 6 months ago* (2 children)

It’s not hard to find a bank that only charges a 1% fee on the spot exchange rate. You shouldn’t be using a debit card (“cash in the account”) almost anywhere. Credit is so much better.

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  • [–] 2 points 6 months ago (1 child)

    But the exchange rate is where they fleece you not the card usage fee.

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  • [–] 2 points 6 months ago* (last edited 6 months ago)

    Maybe if you have a bad bank, I’ve checked mine and it’s competitive. April 17 I did a Bandcamp transaction in GBP, charged my Chase card and got <1% difference in USD compared to the mid-market exchange rate on that date. It’s $90.21 on my statement, $89.92 when I calculate it, so +0.3% off the mid-market rate.

    If you’re getting anything worse than this, you’ve got a shady bank, and there’s no lack of competition.

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