We will go to the Philippines for a vacation and we wanted to know how much will they charge us for using our visa/mastercard credit or debit cards in the Philippines. Will they follow the normal conversion rate or how much extra will they add to that?
2006-12-30 07:41:13 · 9 answers · asked by Richard D 1 in Travel ➔ Asia Pacific ➔ Philippines
looks like it's 2% on top of the 1% conversion fee from visa/mc. i think visa/mc determines the daily conversion rate, which is actually not bad, compared to what foreign currency exchange counters usually offer (and i'm not talking about "black market" rates).
i would strongly advise you to call BoA ahead of time to be clear on the charges.
2006-12-30 08:25:49 · answer #1 · answered by BlueBox 3 · 1⤊ 0⤋
I will strongly recommend that you call your credit company to tell them that you going overseas, and ask them of the surcharge per transaction, some credit cards such as Diners Club dont charge any, the conversion is base on the dollar rate on the day you use it because dollar fluctuates daily.
Regarding ATM use in Philippines, they charge $5 per transaction, plus the $1.50 that your bank will chare for using ATM. This charges will show on your next statement. So if you want cash from ATM make sure you take the maximum amount some ATM has a maximum of 4,000 pesos some 5,000pesos so for the ATM who gives you more. Beware of your surroundings and enjoy your Philippine trip, I wish I were there right now, it si so cold here in Sacramento
HAPPY NEW YEAR
2006-12-30 18:28:33 · answer #2 · answered by trykindness 5 · 1⤊ 0⤋
Some very good answers. However, you should be aware that it is no longer legal to impose surcharges on credit cards, debit cards and atm transactions in the Philippines.
I have never had any problems with my credit card in the Philippines and I have been there many times in the past 3 years. Typically, I only use my card at the hotels or in the mall. I seldom use it at restaurants since food is so inexpensive there.
I also find it helpful to call my credit card company in advance and tell them that I will be there so they don't question the charges.
2006-12-30 15:36:44 · answer #3 · answered by Gary 3 · 1⤊ 0⤋
Lots of good answers here. But when in doubt, go directly to the source. Call the 1-800 number on the back or your card and let them know you will be travelling and ask what the charges will be. My experience has been that exchange rates are based on the date the transaction is posted to the account, not necessarily the day you make the transaction.
2007-01-02 12:42:41 · answer #4 · answered by mikeferg48 1 · 0⤊ 0⤋
Most hotels will charge you a surcharge for using a credit card. I would avoid using credit cards in the Philippines mainly because of the high risk of fraud. Use your card at the bank to get the money you need. If you really have to use it then you should only use your card at the hotel or high class restaurants. Make sure you can monitor your accounts online each day for any questionable charges.
2006-12-30 10:55:48 · answer #5 · answered by Brian F 5 · 0⤊ 1⤋
Glad to hear BOA did not put a surcharge on there. They just bought my MasterCard out. In the Mediterranean, I got a 3% surcharge and the daily exchange rate. And, I plan to do alot of traveling.
I hope you get the same service in the Philippines.
2006-12-30 07:57:59 · answer #6 · answered by Shossi 6 · 1⤊ 0⤋
Simply put - you owe the interest for the use of the money up to the minute you paid it off. It's a residual charge. Meaning the interest accrued right up to October 23rd. Just because you paid it off on October 23rd doesn't mean the interest owed from before is forgiven. There should be no more interest charged on a daily basis AFTER October 23rd.
2016-03-29 01:09:25 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I used mine in France and I was given the going rate for the day I used the card. BOA did not put a surcharge on my account. Have fun!
2006-12-30 07:45:26 · answer #8 · answered by Anonymous · 0⤊ 0⤋
There used to be a 3% surcharge for shopping with a card, but about a month ago the courts decided that double-pricing is illegal... sooo most stores raised their price.
If you wish, there are money changers in almost every mall.
2006-12-30 17:14:15 · answer #9 · answered by luosechi 駱士基 6 · 0⤊ 0⤋