This preferential rate compares favorably against the significantly
higher currency conversion fees charged by commercial and retail banks.
Not exact matches
However, brokers may levy many other costs such as purchase
fees (for some assets such as unit trusts), Others may guarantee surprisingly low rates only to recoup this through
high management
fees or even
currency conversion costs.
Plus, using a credit card that doesn't have a foreign transaction
fee is usually cheaper than using the
currency conversion services at retail stores, banks, and airports, which tend to charge
high fees and could be inconsistent in their
currency calculations.
To ensure that your
currency conversion does not incur a
fee higher than 3 %, you may refuse the ATM operator's offer to convert the amount of the transaction.
Foreign ATM operators may offer to do your
currency conversion for you, but they may charge a
higher fee for
conversion.
Plus, using a credit card that doesn't have a foreign transaction
fee is usually cheaper than using the
currency conversion services at retail stores, banks, and airports, which tend to charge
high fees and could be inconsistent in their
currency calculations.