american express cash preferred foreign transaction fee

The American Express exchange rate is no longer made public, so for the purposes of this article, we’ve given estimated rates based on past precedent and reports from Amex cardholders.

To figure out who charges the lowest fees, we looked at the exchange rates posted by Visa and Mastercard. You might not always notice these fees on your credit card statement, as many issuers automatically include them in the purchase amounts charged to the card, rather than listing the fees as separate line items.ĭoes one card processor offer lower exchange rates than the other? How do the exchange rates and foreign transaction fees affect your bottom line in the long run? Visa, Mastercard and Amex exchange rates compared The foreign transaction fee charged by your card issuer, e.g., RBC or TD. This is the difference between the value of the Canadian dollar and the value of a foreign currency on any given day. The daily currency exchange rate set by your card processor, e.g., Mastercard, Visa or American Express. There are two factors that determine how much your Canadian credit card is charged when you make a purchase in a foreign currency: We may receive a commission for products or services you sign up for through partner links. Please be aware this post may contain links to products from our partners. We adhere to strict standards of editorial integrity to help you make decisions with confidence.

American express cash preferred foreign transaction fee