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Opening Euro Account in Italy for non-resident

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Comments

  • dzug1
    dzug1 Posts: 13,535 Forumite
    10,000 Posts Combo Breaker
    jinkster wrote: »
    Just found an AMEX card that has no fees and will work in Euroland without commission.

    What about the 2.7% exchange rate loading?
  • NFH
    NFH Posts: 4,413 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    dzug1 wrote: »
    What about the 2.7% exchange rate loading?
    If you use a euro-denominated card to transact in euro, then there's no exchange rate, so no loading.
  • jinkster
    jinkster Posts: 377 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    I wonder how much AMEX charge for paying the euro bill off in sterling?
  • NFH
    NFH Posts: 4,413 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    jinkster wrote: »
    I wonder how much AMEX charge for paying the euro bill off in sterling?
    Nothing. Their bank (Standard Chartered in Frankfurt) would convert the incoming GBP payment to EUR at a rate of their choice, which would be credited to Amex's bank account, which in turn would be credited to your Amex card account. It's a pointless thing to do anyway, as it defeats the purpose of having a EUR-denominated card.
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