Chase Bank Foreign Currency Conversion Fees / Foreign Transaction Fees

Chase Bank charges additional fees to those already charged by Visa or MasterCard for making purchases in foreign countries. Click here for more information about the fees collected by some credit card companies for making international purchases.

Chase Bank International Foreign Currency Conversion Fee:

1% — Standard Rate Charged by Visa or MasterCard +
2% — Additional Rate Charged by Chase Bank +
0-5% — Optional “Dynamic Currency Conversion” Fee** Added by Some Merchants =
3-8% — Total Fee Charged

To determine the approximate fee you’ll be charged for making an international purchase take the total value of your foreign purchase and multiply it by the U.S. Dollar exchange rate. Take this figure and multiply it by the total transaction fee listed above. The final amount is what you will pay Chase Bank, Visa/MasterCard, or merchant respectively for using this card internationally.

Special Offers from credit cards with LOW foreign transaction fees.
See chart of international conversion fees charged by other major credit card issuers.

**Visa and MasterCard are susceptible to “dynamic currency conversion” (DCC) fees charged by some international merchants which can add 3% or more to the total purchase. AmericanExpress cards cannot have “dynamic currency fees” added. The usual DCC fee added is between 3-5% but varies from merchant to merchant. Some merchants will not add DCC fees.

Last updated by TravelFinances.com

June 1, 2006

4 Updates to " Chase Bank Foreign Currency Conversion Fees / Foreign Transaction Fees "

on 01 Jun 2006 at 9:21 am Posted by: mj

Thank you for infomation. Is more clear than what they said to me.

—–
We are writing to answer your question about foreign
currency conversion rates on your Visa credit card
account.

The Bank and Visa International use the following
procedure to convert charge amounts from a foreign
currency to U.S. dollars:

1. The foreign merchant’s bank must deliver the record of
each sale to Visa within 45 days of the sale date.

2. Visa converts the sale amount to U.S. dollars. To do
this, they use either a wholesale market rate or, if
applicable, the country’s government mandated rate. The
rate used is the one from the day before Visa received the
record of the sale and not the date the sale was made.

3. The Bank then increases the conversion rate by 3%.

Any conversion rate that a merchant quoted to you at the
time of the sale is only an estimate and is subject to
change based on conversion rates at the time of posting.

Thank you,

####
on 25 Sep 2006 at 5:12 pm Posted by: AR

Chase also chages 3% on the ATM transaction fee.
on 06 Oct 2008 at 9:54 am Posted by: Teri

What is the charge to converst Us Dollars to Euros>
on 21 Oct 2008 at 11:36 am Posted by: Barb

Will Chase Bank be exchanging Iraqi dinars for American dollars
anytime soon?…if not, do you know which banks will?…and how soon?

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