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Re: [81attendees] Exchanging money or using USD ?

<david.black@emc.com> Thu, 21 July 2011 18:53 UTC

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From: <david.black@emc.com>
To: <terry.davis@ijetonboard.com>
Date: Thu, 21 Jul 2011 14:53:07 -0400
Thread-Topic: [81attendees] Exchanging money or using USD ?
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Subject: Re: [81attendees] Exchanging money or using USD ?
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It used to be the case that for bank-owned ATMs, the ATM-owning bank did not add an additional fee for transactions that involve conversion into a foreign currency.  That bank already gets a small cut because there's 1% hidden in the exchange rate if Visa or Master Card clears the foreign exchange transaction (this includes PLUS and Cirrus transactions).

That absence of fees appears to be going by the wayside, and thanks for the suggestion that BMO may not be charging ATM fees on US ATM cards.

Thanks,
--David


> -----Original Message-----
> From: Terry Davis [mailto:terry.davis@ijetonboard.com]
> Sent: Thursday, July 21, 2011 2:37 PM
> To: John R. Levine; Black, David
> Cc: 81attendees@ietf.org
> Subject: RE: [81attendees] Exchanging money or using USD ?
> 
> It appears that the Bank of Montreal didn't charge me a transaction fee and the exchange was right on!
> 
> My bank back in Seattle though charged me a $1.00 for a foreign transaction.
> 
> Take care
> Terry
> 
> -----Original Message-----
> From: John R. Levine [mailto:johnl@iecc.com]
> Sent: Thursday, July 21, 2011 10:34 AM
> To: david.black@emc.com
> Cc: Terry Davis; 81attendees@ietf.org
> Subject: Re: [81attendees] Exchanging money or using USD ?
> 
> > Last month when I was in Victoria, BC, some Canadian ATMs had started to impose transaction fees for
> Canadian $ withdrawals via US ATM cards (at that time, HSBC did not, but I believe RBC did).  Does
> anyone have an update?
> 
> It varies by your bank, the bank whose ATM you're usung and the network that connects them, so it's
> hard to predict.  If it's the same bank (HSBC US and HSBC CA or TD US and TD CA) there's no fee,
> beyond that, try it and see what it says.  There's only one HSBC branch in Quebec, not particularly
> close to the convention centre.
> 
> Any Canadian bank will exchange US cash over the counter at a reasonable rate, and ATMs give a good
> rate too, give or take the transaction fee.
> 
> Regards,
> John Levine, johnl@iecc.com, Primary Perpetrator of "The Internet for Dummies", Please consider the
> environment before reading this e-mail. http://jl.ly

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