credit/debit card, and the Client has. NerdWallet compared more than 15,000 currency conversion rates to see whether Visa or MasterCard was better to use abroad. If that isnt successful, lodge a complaint with the Consumer Financial Protection Bureau. Thats why you might see different exchange rates listed for transactions made on the same day, in the same currency. Cashback, rewards, and miles from your credit card often still apply to your overseas transactions. Your transactions are better protected when you use your credit card. However, its to issuers benefit to process payments quickly, so they typically will work in time with the merchants and the merchants banks. How many times have you changed money at Raffles Arcade (thinking youre getting a great deal only to see the Singapore dollar get stronger in the days that followed?
Some of us have completely given up, and simply consent to getting ripped off by changing money at the airport. This may possibly be better than what you changed in cash.
This service is offered by many merchants, online and offline. You took our advice and chose NOT to pay in Singapore dollars (i.e. Visa issuers generally apply the rate in effect at the time the merchant submits the payment for processing, according to a statement from the network. Rather, its the result of rounding. But because of rounding, there are slight differences starting in the sixth and seventh decimal places. To illustrate this, imagine that you bought a pair of shoes in Hong Kong that cost HK1,000. See our currency conversion study, thats not because Visa, or any other card network or issuer, is trying to pull the wool over your eyes. Even if it was your issuers goof, its up to you to recoup your costs. Just contact your issuer and ask. Sometimes it will only list the day your issuer funds the purchase through the card network, thus completing the transaction. Do you use your credit card for as many foreign currency transactions as possible?