Hey guys,
I make regular purchases from US sites, such as iHerb etc. that i pay via credit card in USD and i get charged an exchange fee via Westpac. Shipped via US as well. Is there a way i can take advantage of this? A credit card that does better exchange rates maybe?
Thanks
Really? This one: http://www.citibank.com.au/aus/banking/everyday_banking/citi… ?
It onlys mentions "Fee-free international money transfers to any bank, anywhere". Does that count as no exchange rate fee?
Unlimited fee-free transactions
Currently your Westpac card charges -
"Fees for using your card overseas
The Westpac foreign transaction fee is payable as a percentage of the Australian dollar value of any foreign transaction. The percentage will vary depending on the applicable credit card scheme:
Visa: 3.0%
MasterCard®: 3.0%
American Express®: 3.5%*
*Customers will not incur foreign transaction fee when the transaction is made in Australian dollar and the merchant or financial institution accepting the card is located overseas"
Citibank does not charge a foreign transacation fee
Really !
Awesome, thanks!
Check out these 2 wikis: Australian Credit Card guide & Cards with No Overseas Transaction Fees
The 28 Degrees MasterCard is the most popular choice for a card that has both no overseas transaction fee and a good exchange rate.
damn beat me to 28 Degrees.
However OP I will say that make sure you double check the price in the US with the local price. With the current exchange rate unless there is a massive discount it probably isn't worth it.
use Citibank Plus..no fee