Does one get the 3% foreign transaction fee refunded if the transaction was cancelled or do they still take it away? Does it matter if the transaction was still pending/pre-authorisation when the transaction was cancelled?
If you have a firsthand experience, please share.
Most people on OzBargain would avoid using a card with an international fee.
Cards with No Overseas Transaction Fees
It will really depend if the transaction was 'cancelled' before being debited to your account or if the merchant processed it as a refund.
The problem is when they dont charge tx fees, they simply give really poor exchange rates.
Does one really win in the end with the cards you mention ?
I have a Citibank card and the exchange rate is set my Mastercard.
It's the same rate as any other Mastercard.
In my experience it is not refunded, but only gets charged once a payment comes out of pending.
However, the AMEX I had was a bank AMEX and now it's fee-free so not 100% up to date.