I'm almost never accused of being too/em> neutral, but when I covered a type of foreign currency exchange that affects international travelers recently, that's exactly what happened.
Processing a credit card charge for overseas purchases used to be pretty simple. You swiped your card while on vacation, your bank changed the money from pesos or euros into greenbacks, and the amount you’d spent appeared on your bill. Maybe you paid a small conversion fee, but you also got a competitive exchange rate.
Hold on to your wallet. Businesses don’t just want to get their hands on your cash when you’re on the […]
As Jay Berman and his wife were checking out of the Henley House in London last month, a clerk asked if they wanted to pay their bill in dollars. It seemed like a good idea at the time, because they'd avoid Bank of America's three percent foreign transaction fee.
If you’re looking for a little adventure this summer — a strike, a riot or maybe even a revolution — skip the Middle East and visit Europe.