Visa exchange rate information

pin · 7 June 2005 at 9:27AM

Hi, don't know if this has been mentioned before (apologies if it has) but Visa now have a currency exchange section to their webiste:

http://www.corporate.visa.com/pd/consumer_ex_rates.jsp?src=look

Also their FAQ is very useful as it shows Visa's own charges and an explaination to Dynamic Currency Conversions (which seem to be all the rage in Spain at the moment):

http://www.corporate.visa.com/pd/consumer_ex_faq.jsp#faq4

Rafter · 7 June 2005 at 11:09AM

Nice one pin,

useful post.

You may also find this table from xe.com useful which allows you to look at currency history as the visa one seems to be today only.

http://www.xe.com/ict/

Remember, the standard exchange rate loading used by most UK issued cards is 2.75% but that Nationwide is zero (except for the cash advance fee on their visa card).

This is often still better than the rate you would get from a bureau de change though as the difference between the buy/sell rate is often more than 2.75% even if they claim to be 'commission free'

R.

jamesh · 14 June 2005 at 11:33AM

If I withdrawl cash from a nationwide DEBIT / CASH card abroad will I get the exact rate on XE.com (for that day) or do nationwide make a slightly different rate.

grumbler · 14 June 2005 at 12:25PM

jamesh wrote:

If I withdrawl cash from a nationwide DEBIT / CASH card abroad will I get the exact rate on XE.com (for that day) or do nationwide make a slightly different rate.

I usually compare with http://www.oanda.com/convert/fxhistory and the difference between NW rate and 'interbank' rate is very-very small.

Rafter · 14 June 2005 at 1:14PM

James,

Xe.com and oanda.com both use the interbank rate which should be the same as nationwide use, although it may depend on what time of day nationwide push the reconciliation button!

Because the sun moves round the earth every 24 hours, the currency market never sleeps so the average or closing rate for a particular 'day' will be different depending on where you are in the world!!!

I imagine therefore you will always get slight differences, but any major variance should be queried with Nationwide.

R.

jamesh · 14 June 2005 at 1:35PM

Thanks for pointing this out,

I'm aware of the constant change it rates, but just looking for a rough idea to see how much better it was, compared to say the post office.

Nationwide here I come

Visa exchange rate information

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