random-host
TF Buzz
Hi All,
Looking to verify my understanding or trying to see if I am missing anything.
When I use a CC for international spends, I am paying a rate which is defined by Visa/Master such as https://www.mastercard.com/global/en/personal/get-support/convert-currency.html
Whereas if I use a forex card and load money in THB I will be paying the bank's forex rate + loading charges
Given that the bank forex rate is always 2-5% worse than Master/Visa rates, it makes no sense ever to use a forex card, even if it comes with 0 markup ? Is this correct? Why do people still love forex cards, then?
I think the situation will be even worse if someone uses single currency forex card like Regalia, as it will have two times the forex rate impact.
Example current visa rate for THB 2.72 , current HDFC rate is 2.82 (Bank sell rate) -> ~3.7%
Looking to verify my understanding or trying to see if I am missing anything.
When I use a CC for international spends, I am paying a rate which is defined by Visa/Master such as https://www.mastercard.com/global/en/personal/get-support/convert-currency.html
Whereas if I use a forex card and load money in THB I will be paying the bank's forex rate + loading charges
Given that the bank forex rate is always 2-5% worse than Master/Visa rates, it makes no sense ever to use a forex card, even if it comes with 0 markup ? Is this correct? Why do people still love forex cards, then?
I think the situation will be even worse if someone uses single currency forex card like Regalia, as it will have two times the forex rate impact.
Example current visa rate for THB 2.72 , current HDFC rate is 2.82 (Bank sell rate) -> ~3.7%
