Foreign credit cards purchases at MEP rate

[Argentino45]

Yes my mastercard always shows the "offical" BN rate at the moment of the transaction, which is known to be approx double the MEP. A few days later I always get a credit which brings the real transaction rate down to what the calculator shows from that previous date.

Now the mastercard calculator allows me to choose today's date of nov-23. Earlier today it only allowed me to choose nov-22 or a previous date. I use my Mastercard and Visa often, though most of the time I only reference the Visa calculator. I have never noticed much difference. Typically the calculator (and my card statement) conversion rate is 4-7% below the MEP rate of the date of the transaction.

Today it charged me the "mep" rate though it didn't charge the official rate at all I think they might've changed something

 

[Quilombo]

With Visa I get the MEP rate from Dolar Hoy, minus 7%.

 

[NomadTrader]

With Visa I get the MEP rate from Dolar Hoy, minus 7%.

I'm sure this has been shared before, but I'll drop this link to real time visa info here:

Exchange Rate Calculator - Currency Converter

Exchange Rates & Currency Conversion Calculator - Use the converter to get an indication of the rate you may receive when using your Visa card. Learn more.

usa.visa.com

 

[NomadTrader]

Just got money at the ATM. Effective exchange rate of 948.35.

Significantly better than WU and even slightly better than trading dollars on the street.

Haven't seen that in awhile.

 

[FrankPintor]

Just got money at the ATM. Effective exchange rate of 948.35.

Significantly better than WU and even slightly better than trading dollars on the street.

Haven't seen that in awhile.

Of course, you get something like the MEP at the ATM, for all that someone who I assume doesn’t live here is insisting that it’s the official rate

The ATM fees and possible low withdrawal limits can make your effective rate quite a bit less, of course. There was a previous report of getting up to 40k pesos at Banco Galicia, and I believe some card issuers or banks refund ATM fees. It’s always down to one’s personal circumstances.

 

[NomadTrader]

Of course, you get something like the MEP at the ATM, for all that someone who I assume doesn’t live here is insisting that it’s the official rate

The ATM fees and possible low withdrawal limits can make your effective rate quite a bit less, of course. There was a previous report of getting up to 40k pesos at Banco Galicia, and I believe some card issuers or banks refund ATM fees. It’s always down to one’s personal circumstances.

Fidelity - no foreign exchange rate fees or surcharges, all ATM fees -including international ATMs-get reimbursed, and great customer service.

Highly recommended.

 

[Rich One]

Which Banks ATMs are trustworthy not to swallow your card...

 

[FrankPintor]

Which Banks ATMs are trustworthy not to swallow your card...

Never happened to me here, if it does, you need to get back to the bank branch as soon as possible as I understand some banks have a policy to destroy retained cards after say 48 hours.

 

[TonyTigre]

Fidelity - no foreign exchange rate fees or surcharges, all ATM fees -including international ATMs-get reimbursed, and great customer service.

Highly recommended.

I thought Fidelity charge a 1% foreign transaction fee. Have this changed recently? In fact, I remember reading that they may even charge that 1% foreign transaction fee even when there's no currency conversion involved as long as the transaction was completed outside of the US.

Schwab is the one I'm aware of that doesn't charge a foreign transaction fee and also refund ATM fees worldwide.

 

[Caribbean Cool]

I thought Fidelity charge a 1% foreign transaction fee. Have this changed recently? In fact, I remember reading that they may even charge that 1% foreign transaction fee even when there's no currency conversion involved as long as the transaction was completed outside of the US.

Schwab is the one I'm aware of that doesn't charge a foreign transaction fee and also refund ATM fees worldwide.

No Foreign Transaction Fees​

You won't pay a transaction fee when making purchases outside of the United States. CAPITALONE