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From: Rosalie B. (no email)
Date: Mon Jun 12 2006 - 12:12:16 EDT
On Mon, 12 Jun 2006 06:37:10 -0700, you wrote:
>I've got only a couple minutes before I have to head out so I'll just
>comment quickly. I started the thread and am quite surprised at the
>response. First and least, I'm surprised at the relatively small
>number of responses especially those from out of country (US).
>
I think that is partly because those people on the list are not out
there doing it yet (or again)
>Second, and _much_ more importantly, I'm surprised about the
>predominance of cash over plastic paid monthly. I would have thought
>that a specific or minimal amount would be paid automatically each
>month and then the remainder be paid when secure access could be
>found while cash would be used less especially in the larger cities,
>etc. I'm presuming that this is the case whether you are in Europe,
>Central or South America or any other place.
>
I think there would be more use of credit cards in Europe and probably
Australia and maybe Japan than there would be in central or South
America or in Africa.
>What _really_ surprised me was the percentage that was added to the
>various cards by the merchant. It's been a lot of years since I have
>been out of the country and back then there was an exchange rate
>difference/fee but I didn't remember the cost of using the card fee.
>Years ago, I remembered it was said to be illegal to pass on the cost
>of the card that the merchant paid. Lately, I've found another
>instance (locally) where this fee was collected when the card was
>used and it was termed an administrative fee.
>
The credit card companies can COMPEL the merchants in the country that
the credit card is issued in (for the purposed of this discussion I am
going to assume that this is the USA) both to pay them a fee for the
ability to have customers be able to use their card AND to require
that they do not charge the customer a higher price for the use of the
card. The merchant is expected to absorb this as a cost of doing
business.
Outside the USA, the credit card companies can't require the merchant
to charge the same price to cash customers and credit customers. So
the merchants will frequently pass on the cost (which makes sense from
their POV). When I was in Belize, the shop keepers would tell me that
they would add a percentage for the use of plastic because they were
honest people. I don't know that they will do that everywhere.
There is ALSO sometimes a fee that the Credit Card company charges the
customer and it is hidden in the exchange fee. They won't tell you
about it unless you pin them down and insist. And even then, they
will say it is a 'required' fee by the government or something. It
isn't because not all of them do it.
To give an example.
I charged medical bills on two different cards when I was in Nassau.
The bills were in Bahamian dollars which are on a par with US dollars.
On one card, the dollar amount of the bill and the dollar amount that
appeared on my statement were identical. On the other card, the
amount on my statement was about 3% higher than the amount of the
actual bill. For a bill of $1800.00, the charged about $1855.00.
It took me awhile to figure out what was going on, particularly since
the bill was an estimate - kind of like a deposit - and the hospital
refunded the unused amount. And for some reason, the credit card
company refunded the 'currency exchange' fee on this amount also. It
took me quite a few phone calls to the hospital and to the credit card
company to get it straight.
>This is causing me to rethink what we are going to do never mind that
>I, obviously, didn't "win" the point in question :-! . I "really"
>needed another thing to think about and do over the next 3 months. :'(
>
You need to call the credit card companies and find out what fees they
charge.
>Thanks for all your info and, if anyone is still considering adding
>to the discussion, please do so. Every piece of info counts.
>
>Now, I have to get going. So much to do and so little time.
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