Discount brokerages that do not offer clients the option to have US dollar accounts will usually charge currency
conversion fees on transactions that take place in US dollars (for example if a client buys shares of a company from a US listed exchange).
Not exact matches
While there are no set - up or monthly
fees, you will have
fees like an extra 1 percent added
on to each
transaction from outside of the U.S., 2 - 5 percent charge above daily bank rate
on currency
conversion and a $ 20 charge back
fee.
RBFCU does not apply a
fee to perform currency
conversion on transactions processed in a foreign country.
In other words, your bank has a cash EURUSD of $ 1.30 but the
conversion you get at the ATM is Visa's rate, hence the Visa
fee (but it's typically a nicer spread, or it's sometimes the international spot rate depending
on the circumstances, due to the overhead of electronic
transactions).
A typical bank foreign
transaction fee is an additional 2.5 %
on top of the currency
conversion rate.
But just using a credit card that doesn't charge foreign
transaction fees is often not enough to make sure you're not paying more than you should be when making purchases abroad — I'm referring specifically to the practice of «dynamic currency
conversion» so if you already know all about this feel free to move
on to another post (there's a pretty good rant about BA here if that's more to your liking).
The
transactions are processed immediately and no additional charges are imposed
on top of the
conversion fee, which is typically 0.15 to 0.2 %.