What foreign exchange rate does Amex use?

Most credit cards that have this fee charge 3% of the amount of the transaction, and some American Express cards have a 2.7% foreign transaction fee.

Does American Express charge foreign exchange fees?

How much are American Express foreign transaction fees? The American Express foreign transaction fees are 2.7% of all international transactions or 0%, depending on the Amex card. There are plenty of American Express cards with no foreign transaction fee. Those cards tend to be the best options for travel.

How do I contact Amex Australia?

You can also Click to Chat with us 24/7 via your Online Account or message us directly in the Amex App. Contact us immediately if you suspect fraudulent activity on 1300 132 639 (from Australia) +612 9271 8664 (from overseas). Operating hours are 6am – midnight AEST, 7 days a week.

Does American Express do currency exchange?

American Express exchange rates change on a daily basis, but they do not make their exchange rates public. The rates do tend to be quite low, however. While credit card exchange rates normally also include foreign transaction fees, the American Express Platinum card does not charge foreign fees.

Is it better to exchange currency or use credit card?

Use your credit or debit card when possible Fees aside, using your credit or debit card is probably your safest bet for getting an exchange rate that’s closest to the market rate. But be aware that while your card’s issuer bases its exchange rate on market conditions, it does set its own exchange rate for transactions.

How do I know if my credit card has foreign transaction fees?

If a card charges a foreign transaction fee, it will be listed in the card’s terms and conditions. The 10 largest credit card companies all offer at least some cards without foreign transaction fees, and some issuers don’t charge these fees on any of their credit cards.

How can I talk to a person at American Express?

PHONE

1. Customer Service. 1-888-397-1980. 7am-12 Midnight EST, 7 days a week.
2. Express Credit Card Customer Service. 1-800-201-4955 (TDD/TTY 1.800.695.1788) Monday – Saturday 8am-9pm ET. Automated system available 24 hours, 7 days a week.
3. Public Relations. 1-800-934-4437.

What is Amex phone number?

(800) 528-4800American Express / Customer service

Why did I get charged a foreign transaction fee?

Foreign transaction fees are placed on purchases made using a credit or debit card in a country other than the U.S. Ostensibly, this charge is meant to compensate the purchaser’s bank for converting the funds into a foreign currency. These fees are often percentage-based and are common on most cards.

Do you lose money exchanging currency?

As the price you pay for a currency depends on the day you want it exchanged, you could lose money when you return from your travels. It might be better to hold on to the foreign money and wait until the currency rate has recovered. Don’t spend it all just because you think it will be worth nothing when you get back.

Can I use my Amex internationally?

American Express is accepted in more than 160 countries and territories internationally. That includes all the members of the United Nations, except for those under U.S. sanctions. Amex cards are more widely accepted in some international destinations than others, though.

How do I contact American Express International?

How can I contact American Express when traveling overseas/internationally? If you’re a US Card Member traveling internationally, you can chat with us anytime through your online account. You can also call us collect by asking the operator to use the access code for the country you’re in + 336-393-1111.

How do I talk to a human at Amex?

What is foreign exchange fee?

Key Takeaways. A foreign transaction fee is imposed by a credit card issuer on a transaction that takes place overseas or with a foreign merchant. These fees are typically 1%–3% of the value of the transaction and are paid by U.S. travelers in dollars.

Why is currency exchange so expensive?

Lower Demand-Lower Supply Issue The low transactional volume makes the local money changers or even banks charge higher mark-up fee making foreign exchange rate quite expensive in these cities. Also, lower demand increases transportation and maintenance cost per transaction which further push the exchange price.

Is Amex widely accepted in Australia?

Credit cards such as American Express, Bankcard, Diners Club, MasterCard, Visa, UnionPay and JCB are accepted in Australia. VISA or MasterCard can be used everywhere credit cards are accepted.

Why is Amex not widely accepted?

The different fees often make or break a deal for a merchant. This is why many merchants, especially small businesses, don’t accept American Express. American Express’ interchange fee is just too high. Providers like Visa and Mastercard charge between 1.5% and 2.5%, while Amex charges merchants between 2.5% and 3.5%.

How do I talk to a real person at American Express?

How do I chat with American Express?

You can chat with us once you’re logged into your online account at americanexpress.com. Just look for the “Help” button at the top of your screen. For best results, access Chat from a desktop computer and make sure your browser is full size.

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