Look for some wisdom to work out which method of payment is better by BNZ platinum visa. I rang the call center but doubt the staff has decent knowledge on FOREX calculation on their credit card.
Intend to book a cruise, choice of paying NZD5394 or AUD4908.
What if I paid by AUD4908, how much it would be in NZD after all. A few calculators on BNZ site, not sure which one they go by for credit card transaction and any conversion charge.
Thank you.
Thanks, I think it makes sense not let the merchant site convert to NZD for you in case their FOREX is not competitive.
In this case I have asked cruise company, they dont hv mark up on AUD, NZD. If I jump to AU site to book, I can pay AUD and its up to my visa issuer to charge whatever. In Martz5 calculation it is more sensible to pay NZD. Thanks for sharing the article, great info
According to this you would pay ~ $5426.05 NZD if you paid in AUD.
BNZ charges a 2.25% conversion fee on top of Visa’s exchange rate
4908 AUD = 5426.047912 NZD
% Mark-up over European Central Bank Rate = 2.45
1 AUD = 1.105552 NZD
1 NZD = 0.904525 AUD
Currencies fluctuate every day. The rate shown is effective for transactions submitted to Visa on 03/09/2023, with a bank foreign transaction fee of 2.25.
Love the detailed figures👍🏻
In below article, techhit said Westpac Mastercard with no fee, no conversion charge but may face retail exchange rate. My question is whether or not Mastercard has a published FOREX like Visa? Your view, please.
A quick google shows this calculator for Mastercard.
Assuming $0 fees and paying in AUD currency
1 Australian Dollar = 1.081472 New Zealand Dollar
Your transaction amount of 4,908.00 AUD = 5,307.86 NZD in your card currency
Unless you're putting it on card to pay it off over time or get the travel insurance, it will likely be much cheaper to pay in AUD on a Wise card
You might find this article helpful. It suggests pay in local currency, in this case AUD.
https://www.stuff.co.nz/travel/travel-troubles/300603119/bew…