Quote:
Originally Posted by stoney77
I just checked my American Express account online and found I was charged a $4.53 Foreign Transaction Fee by Chapters/Indigo. Has anyone else been charged this amount? This was never mentioned when I purchased the Kobo. I'm not happy about any hidden charges.
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Any time you use your Amex card for a non-US purchase you'll see that charge.
In the UK typically the charge is 2.75% - 2.99% and it's always been charged. It's known as foreign loading. No matter what you do you can't change your US dollars into Canadian dollars without making some form of payment. Generally the exchange rate on credit cards is reasonable.
The UK regulator now forces all UK banks to split the fee from the transaction and show it separately. All that's done is cause complaints, but it is more transparent.
If you regularly make foreign currency transactions you can shop around for a card with lower fees, in the UK at least that's possible but I don't know the US market well. There are or at least there were in the UK cards with no loading fee, but you paid for that in other ways usually.