American Dollars
Do Canadian grocery stores, gas stations, etc. accept american dollars? If so, do they charge a fee or are they happy to get the US dollars that are worth more? My US credit card will bill me at the...
Forum Discussion
Last time I checked, the Capital One Visa card issued in the US, did NOT charge a premium for their foreign transactions, the one issued in Canada does. For many years most banks did not add this premium on to their debit transactions, but a few years ago, our bank did and I'm sure that most financial institutions have followed suit.
It is important though to point out that this premium does not appear as a separate 'fee' on your Visa statement, it is merely an extra 2-3% added to the rate used for the transaction. Unless you could compare the rate used and compare it to what their 'in branch' rate would be on the SAME day, you would never know! Even if you asked them "is there a fee" they would say "no", as it really isn't a fee.
Remember that financial institutions will have different exchange rates and differing amounts of 'spreads' (difference in buying and selling rates).
It is important though to point out that this premium does not appear as a separate 'fee' on your Visa statement, it is merely an extra 2-3% added to the rate used for the transaction. Unless you could compare the rate used and compare it to what their 'in branch' rate would be on the SAME day, you would never know! Even if you asked them "is there a fee" they would say "no", as it really isn't a fee.
Remember that financial institutions will have different exchange rates and differing amounts of 'spreads' (difference in buying and selling rates).
