It still is reflected on the site. But it is still showing as double the charge on our bank statements. Hence the speculation
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Foreign credit cards purchases at MEP rate
- Thread starter ArgentinaVet
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Argentino45
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When you choose ars to usd it gives the better rateThere's no need to speculate on this further. Check the rate on this calculator daily before going out to use your credit card -- when Visa card was giving the better rate it was reflected on this site.
https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html
That's the thing though -- they were artificially decoupled on Jan 28, with USD to ARS rates frozen for 3 days now. I doubt different banks and issuers are supposed to know how much to charge people and how to convert, considering there's been no announcement. Might as well just wait until they're either the same rates again or Visa/MC says something.When you choose ars to usd it gives the better rate
If an Argentine went to the US and bought something for $1 USD on their card, it should charge them 185 AR$ on their Argetine card, not 333 AR$. Vice versa, if a US citizen buys something here for 1000 pesos, it should cost $3.00. That is what the calculator is showing.That's the thing though -- they were artificially decoupled on Jan 28, with USD to ARS rates frozen for 3 days now. I doubt different banks and issuers are supposed to know how much to charge people and how to convert, considering there's been no announcement. Might as well just wait until they're either the same rates again or Visa/MC says something.
Pretty sure they should have been decoupled all along.
This is logical in theory, but all it would take is for a seller in Argentina to press USD when processing a payment for you to be charged the official rate, which from my experience of traveling abroad, sellers do very often. In practice, two completely separate rates for card payment processing simply isn't going to work.If an Argentine went to the US and bought something for $1 USD on their card, it should charge them 185 AR$ on their Argetine card, not 333 AR$. Vice versa, if a US citizen buys something here for 1000 pesos, it should cost $3.00. That is what the calculator is showing.
Pretty sure they should have been decoupled all along.
I'm not sure I understand this. It is the card processors recognizing the transactions in order to convert. If a merchant tried to charge me in dollars, I would refuse the transaction. They can't offer you the bill in pesos and sneak behind your back a charge in USD, I'm fairly certain that is illegal. If they did, I would just refuse the transaction or dispute the transaction with my bank.This is logical in theory, but all it would take is for a seller in Argentina to press USD when processing a payment for you to be charged the official rate
Argentino45
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Even if they did do that I don't think it'd change much for the merchant right? It should still come in pesosI'm not sure I understand this. It is the card processors recognizing the transactions in order to convert. If a merchant tried to charge me in dollars, I would refuse the transaction. They can't offer you the bill in pesos and sneak behind your back a charge in USD, I'm fairly certain that is illegal. If they did, I would just refuse the transaction or dispute the transaction with my bank.
Payment terminals will usually recognize a foreign card when you insert/swipe it and ask if you would like the payment charged in the card currency or the local currency. You're right that it's not legal for a merchant to make that selection for the card user, but I've seen it done in many different countries where laws matter, so I can't imagine how this practice would be less prevalent in Argentina.I'm not sure I understand this. It is the card processors recognizing the transactions in order to convert. If a merchant tried to charge me in dollars, I would refuse the transaction. They can't offer you the bill in pesos and sneak behind your back a charge in USD, I'm fairly certain that is illegal. If they did, I would just refuse the transaction or dispute the transaction with my bank.
It also didn't really matter too much if a merchant (or you) pressed USD or local on the terminal before, because the worst thing that would happen is you get charged a negligibly worse exchange rate, but with ARS rates being entirely decoupled, it could explain why certain people are continuing to get the better rate while others can't anymore.
