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Citibank N A Complaint - Exchange Rate - Foreign Currency Transaction

Foreign Currency Transaction - Complaint
Review by Arona on 2011-04-08
Be careful in using Mastercard for paying your foreign currency transaction, because you don't have idea how much they will charge you in your country rate. I have charge about Rp 8,995 per SGD 1. I have never known that SGD will be so high. In my experience the exchange rate always Rp 7,000 something. I did 2 transaction in same time, for 1 transaction was using right rate (about Rp 7,138) but the other with Rp 8,995. How come the rate fluctuated about Rp 2,000 in a few minutes. I called Citibank but I didn't satisfy with they answer. They said I can't complain about the exchange rate, I have to just received whatever they charge. So with the experience, I think I will never use Mastercard again for all my foreign exchange transaction.

Its kinda I buy something without knowing how much they will charge me.
Comments:
Posted by Alain on 2011-04-10:
Currency exchange rate sites such as x-rates.com, xe.com/ucc, finance.yahoo/currency or exchangerate.com might be helpful to you. As to what you'll be charged for the transaction, you'll have to check with Citibank. Since their response hasn't been satisfactory, you may want to get a Visa or MasterCard from a different company.

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