on 11/9/04 11:30 PM, Brian Swale at bj@xxxxxxxxxxxxxxx wrote:
> Typical extreme instances quoted on the radio report today are such as -
> somebody staying at a hotel in London and the cost of the stay is (say)
> $2,000 NZ. The banks typically charge the conversion as a percentage of
> the total; not the one flat rate that should be charged.
>
> This will be an interesting case. It was also reported that in the USA, some
> department has taken a similar case against a US credit-card company, and
> I think the report was that the charges were upheld in the court.
>
> OM content; the lens-hood was for a Zuiko 35/2.
>
> Brian
I think the currency conversion done by Visa/MC et.al. is probably better
than you get at the tourist traps in most touristy spots. Even there, its
probably higher than it needs to be.
My limited experience exchanging the mighty US$ for the CanaBuck of the
1970's was that there was a percentage rate applied, usually a base fee plus
a percentage of the amount exchanged, but that percentage rate dropped as
you exchanged more at once. One friend with a family 'summer home' in Ft.
Erie told me his mother typically exchanged $1000 at a time for the 'best'
rate.
--
Jim Brokaw
OM-'s of all sorts, and no OM-oney...
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