Comments on: American Express Skews Exchange Rates? http://www.travelfinances.com/blog/index.php/2006/08/26/american-express-skews-exchange-rates/ Guide to the resources needed to manage money, credit cards, banks, and personal online finances effectively while traveling. Sat, 05 Jul 2008 12:34:47 +0000 http://wordpress.org/?v=2.5.1 By: An Experiment Gone Awry: Comparing Amex Foreign Exchange Fees to Visa and Mastercard · Credit Card Watcher http://www.travelfinances.com/blog/index.php/2006/08/26/american-express-skews-exchange-rates/#comment-15279 An Experiment Gone Awry: Comparing Amex Foreign Exchange Fees to Visa and Mastercard · Credit Card Watcher Fri, 08 Feb 2008 16:03:08 +0000 http://www.travelfinances.com/blog/index.php/2006/08/26/american-express-skews-exchange-rates/#comment-15279 [...] experiment In the past, I had heard that Amex used inferior exchange rates, so to test that theory I set up an admittedly imperfect experiment, pitting my Starwood American [...] [...] experiment In the past, I had heard that Amex used inferior exchange rates, so to test that theory I set up an admittedly imperfect experiment, pitting my Starwood American [...]

]]> By: Joe In Toronto Canada http://www.travelfinances.com/blog/index.php/2006/08/26/american-express-skews-exchange-rates/#comment-14731 Joe In Toronto Canada Tue, 16 Oct 2007 11:43:05 +0000 http://www.travelfinances.com/blog/index.php/2006/08/26/american-express-skews-exchange-rates/#comment-14731 Amex is still charging exchange rates on Canadian to American dollars. We should be getting more, not less. Amex is still charging exchange rates on Canadian to American dollars. We should be getting more, not less.

]]> By: DJL http://www.travelfinances.com/blog/index.php/2006/08/26/american-express-skews-exchange-rates/#comment-12148 DJL Fri, 27 Apr 2007 19:04:37 +0000 http://www.travelfinances.com/blog/index.php/2006/08/26/american-express-skews-exchange-rates/#comment-12148 It is common in many countries to charge more to accept American Express, as the merchant fees which American Express subtracts from the amount the vendor gets are substantially higher than Visa and MasterCard. As to the exchange rate - I'm seeing often 3%+ for purchases on USD-AUD. I guess they can find substantiation for a bad exchange rate. And what they're actually "paying" is probably a different issue altogether as American Express in all these countries will most likely be exchanging money between each other without fees. It is common in many countries to charge more to accept American Express, as the merchant fees which American Express subtracts from the amount the vendor gets are substantially higher than Visa and MasterCard.

As to the exchange rate - I’m seeing often 3%+ for purchases on USD-AUD. I guess they can find substantiation for a bad exchange rate. And what they’re actually “paying” is probably a different issue altogether as American Express in all these countries will most likely be exchanging money between each other without fees.

]]> By: JRoberts http://www.travelfinances.com/blog/index.php/2006/08/26/american-express-skews-exchange-rates/#comment-700 JRoberts Tue, 26 Sep 2006 17:07:31 +0000 http://www.travelfinances.com/blog/index.php/2006/08/26/american-express-skews-exchange-rates/#comment-700 You're being scammed. They are not allowed to randomly charge customers more for using a card. Report the merchant to AMEX!!! You’re being scammed. They are not allowed to randomly charge customers more for using a card. Report the merchant to AMEX!!!

]]> By: Tracey Pedersen http://www.travelfinances.com/blog/index.php/2006/08/26/american-express-skews-exchange-rates/#comment-669 Tracey Pedersen Sat, 23 Sep 2006 20:22:40 +0000 http://www.travelfinances.com/blog/index.php/2006/08/26/american-express-skews-exchange-rates/#comment-669 We recently made arrangements for transportation from the airport in Mexico with Lomas Travel. For payment, we asked them if they accepted Amex. They said "yes, but we charge an extra 5% to take that card". They couldn't explain why they charged the extra 5%, they just did. Any ideas why they would charge extra for that card? We recently made arrangements for transportation from the airport in Mexico with Lomas Travel. For payment, we asked them if they accepted Amex. They said “yes, but we charge an extra 5% to take that card”. They couldn’t explain why they charged the extra 5%, they just did. Any ideas why they would charge extra for that card?

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