Re currency conversion charges

A letter in the November ’03 issue, page 38, stated that MBNA does not charge for foreign currency conversion. That’s true. What it doesn’t say is that the various credit card companies themselves are the ones that charge; e.g., Visa, 2%; AmEx, 2%, and MasterCard, 1%. I learned the above researching the veracity of the MBNA deal.

There can be significant ATM charges from the issuer, not the credit card company. In the case of the MBNA cards, the MasterCard holder is charged by MBNA 3% for ATM withdrawals. I’d sure like to know what the AmEx and Visa ATM charges are.

PAUL KASTIN
Atlanta, GA