Beware - credit card rip-off

Raffi Balmanoukian wrote:
in article , Frank F. Matthews at
wrote on 4/22/04 6:15 PM:


Alan wrote:

snip


Our biggest currency cost came when we arrived home and tried to convert
the left-over cash in US$, euros, czech crowns, Swiss francs, Pounds
Sterling and Singapore dollars back into AU$. That's when they hit us
with fees, and refused to touch the coins at all. Doesn't sound like a
lot, until you realise that a single 2 pound coin is AU$5. So I have
about $150 in "souvenir change".

Hope this helps.

Cheers, Alan

Too late for you but three generic suggestions for reducing left over
currency. First, if you are on a tour or boat where tipping is expected
give the tip in your left over currency. Since guides move thru similar
areas they can usually manage easily. Second, if you are interested on
airline stuff they will manage a purchase in multiple currencies quite
easily. Third, get new money using the left over cash from the last
place. Usually it's easier there and you would be paying some fee to
get money from a home account. Finally there are charities that are
grateful for coins. FFM

If I have any intention of going back to a place (like Australia), I simply
keep it - very useful for layovers and also in case the ATMs on arrival are
down. Gets me into town via shuttle, etc. if necessary. Much better than
taking a bath on the exchange.

I forgot another use for coins. If you know any children they usually
find strange coins fascinating. FFM

On Fri, 23 Apr 2004 06:37:12 +1000, Alan
wrote:

On Thu, 22 Apr 2004 14:31:22 +0300, "Markku Grönroos"
wrote:

I am not a "regular". However, your claim is groundless. For instance I will
use traveller's cheques on my holiday next May and June. My plastic cards
are not backed up decently when they get lost. I do have them along with me
though. As you said, paying is beneficial by credit cards. For instance in
Mexico you need cash too.


G'day

Posting from r.t.a+nz. Hi there and thanks again to those who helped me
plan my trip from r.t.e and r.t.u-c.

Forget TCs. Use ATMs. I don't know where you travel to, but you'll find
very few traders outside the major cities in Oz who want the hassle of a
TC.

I agree about an ATM being a better choice, but a TC isn't really any
'hassle'. They can pay it straight into their bank account, just the
same as they would with any other type of cheque. On the occasions
when I've done that the account has always been credited with the full
face value of the TC, with no additional charges made.

On Fri, 23 Apr 2004 02:03:19 GMT, Miguel Cruz wrote:

Alan wrote:
"Frank F. Matthews" wrote:
Finally there are charities that are grateful for coins.

the local charities in Pottsville Beach wouldn't get any benefit from
coins they can't exchange.

At many (most?) international airports there are receptables (often pretty
small and hard to spot) put up by worthy local charities, precisely for
depositing miscellaneous coins, which they somehow manage to turn into
money.

A lot of airlines now participate in UNICEF's "Change for Good"
program. An envelope for donating your left over charge can usually be
found in the aircraft seat pocket, which you hand it to the cabin
crew.

Too late for you but three generic suggestions for reducing left over
currency.

I was rather happy to find that some shops in airports can take their
national currency and give you back change in another currency.

I generally do not buy anything in airports, but last summer in Denmark
we had some crowns left (one banknote), so I decided to buy some food.
The cashier asked me whether I wanted change in crowns or euro, and I
was obviously quite happy to take euro.

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Raffi Balmanoukian a wrote in message news:BCADEC6C.230AD%walkabout@TAKEOUTTHETRASHTORE PLY.ns.sympatico.ca...


If I have any intention of going back to a place (like Australia), I simply
keep it - very useful for layovers and also in case the ATMs on arrival are
down. Gets me into town via shuttle, etc. if necessary. Much better than
taking a bath on the exchange.

I try to save a representative banknote and coin of each country I
visit. Never had a problem getting rid of excess at places like
airports. In Vietnam, where the currency is nonconvertible, I happily
take departing visitors' leftover VND off their any hands in exchange
for any excess THB, HKD or SGD I might have accumulated, depending on
their next destination.

George W. Russell
Hanoi

Frank F. Matthews wrote:

Alan wrote:

snip

Our biggest currency cost came when we arrived home and tried to convert
the left-over cash in US$, euros, czech crowns, Swiss francs, Pounds
Sterling and Singapore dollars back into AU$. That's when they hit us
with fees, and refused to touch the coins at all. Doesn't sound like a
lot, until you realise that a single 2 pound coin is AU$5. So I have
about $150 in "souvenir change".

Too late for you but three generic suggestions for reducing left over
currency. First, if you are on a tour or boat where tipping is expected
give the tip in your left over currency. Since guides move thru similar
areas they can usually manage easily. Second, if you are interested on
airline stuff they will manage a purchase in multiple currencies quite
easily. Third, get new money using the left over cash from the last
place. Usually it's easier there and you would be paying some fee to
get money from a home account. Finally there are charities that are
grateful for coins. FFM

Use it to pay your final hotel bill. Hold back enough to get to the
airport (if not pre-paid), then hand over the rest to the hotel clerk,
and say you want to use that to pay your bill and then your credit card
for the remaining balance. They see this a lot.

--
Evelyn C. Leeper
http://www.geocities.com/evelynleeper
Separate is not equal. The right time to do the right thing
is always now. Those who say "wait" usually mean "never."
--Bonnie Tinker and The Rev. Cecil Prescod

Alan muttered....



Our biggest currency cost came when we arrived home and tried to
convert the left-over cash in US$, euros, czech crowns, Swiss francs,
Pounds Sterling and Singapore dollars back into AU$. That's when they
hit us with fees, and refused to touch the coins at all. Doesn't sound
like a lot, until you realise that a single 2 pound coin is AU$5. So I
have about $150 in "souvenir change".


Your tale reminded me of an annual event at our oldest daughter's
elementary school's "May Fete" back in the mid70s. One of the booths,
always manned by a couple of us who were frequent travelers and preferred
it to "Pin the Tail on the Donkey" or the "Ducking Booth" was the "Foreign
Money Store". Several weekes before the May Fete, the school would send
homea note with each child soliciting contributions of foreign coins (or
currency) brought home unused from trips (especially in UK coinage).
Amazing amounts would be brought in by little nippers whose parents were
travelers and supportive of an easy, painless fund-raiser.


Come May Fete day, I'd take off at Noon and join a friend to separate and
count the take. We'd chalk our version of acceptable conversion rates for
each major country's cash for prospective buyers on a chalkboard beside the
booth (and note possession of strange money to be bargained for). Then at
the opening bell, we would be busy for an hour of two with folks planning
foreign vacations or business travel. With the entire take going to the
school, we could be generous, however there always arguments over what to
do with old devalued coins and currency and the occasional contribution in
Occupation Marks or Yen. Something interesting like a Maria Theresa thaler
would always show up, and a couple of coin collectors would always show up
to paw through the remains.

Any unsaleable "leftovers" could be saved for future years, and the
strange, unsaleable coins - often those big iron Chinese sort with the
square holes - could go to classroom use. The booth always made "big" money
for the school, when compared to more fun-oriented activities. Even today,
such a scheme might work at a Charity Fair, although those Uropeens have
certainly spoiled the broth, leaving all those assorted old coins and
nowhere to spend'em.

TMO

--
"Evelyn C. Leeper" wrote in message
.net...
Frank F. Matthews wrote:

Alan wrote:

snip

Our biggest currency cost came when we arrived home and tried to
convert
the left-over cash in US$, euros, czech crowns, Swiss francs, Pounds
Sterling and Singapore dollars back into AU$. That's when they hit us
with fees, and refused to touch the coins at all. Doesn't sound like a
lot, until you realise that a single 2 pound coin is AU$5. So I have
about $150 in "souvenir change".

Too late for you but three generic suggestions for reducing left over
currency. First, if you are on a tour or boat where tipping is expected
give the tip in your left over currency. Since guides move thru similar
areas they can usually manage easily. Second, if you are interested on
airline stuff they will manage a purchase in multiple currencies quite
easily. Third, get new money using the left over cash from the last
place. Usually it's easier there and you would be paying some fee to
get money from a home account. Finally there are charities that are
grateful for coins. FFM

Use it to pay your final hotel bill. Hold back enough to get to the
airport (if not pre-paid), then hand over the rest to the hotel clerk,
and say you want to use that to pay your bill and then your credit card
for the remaining balance. They see this a lot.

--
Evelyn C. Leeper
http://www.geocities.com/evelynleeper
Separate is not equal. The right time to do the right thing
is always now. Those who say "wait" usually mean "never."
--Bonnie Tinker and The Rev. Cecil Prescod



Use it in Airport duty frees, you can pay for single transactions with
multiple currencies. then make up any difference with your cc- well thats
what I do.

Jan

"Alan" wrote in message
...
No cost is not correct. ATMs, security and bank softwares, machines to do
transmission of data, lease lines, networks.....

All that's built into the cost of credit card processing which is charged to the
retailer and is incurred even when there is no currency conversion. How do you
think these costs are met when people buy stuff in their own currency? The
retailer typically pays around 2% of credit card receipts. The DCC markup is *on
top* of all that.

--
Andy

On Fri, 23 Apr 2004 08:23:45 -0500, Olivers
wrote:

Alan muttered....



Our biggest currency cost came when we arrived home and tried to
convert the left-over cash in US$, euros, czech crowns, Swiss francs,
Pounds Sterling and Singapore dollars back into AU$. That's when they
hit us with fees, and refused to touch the coins at all. Doesn't sound
like a lot, until you realise that a single 2 pound coin is AU$5. So I
have about $150 in "souvenir change".


Your tale reminded me of an annual event at our oldest daughter's
elementary school's "May Fete" back in the mid70s. One of the booths,
always manned by a couple of us who were frequent travelers and preferred
it to "Pin the Tail on the Donkey" or the "Ducking Booth" was the "Foreign
Money Store". Several weekes before the May Fete, the school would send
homea note with each child soliciting contributions of foreign coins (or
currency) brought home unused from trips (especially in UK coinage).
Amazing amounts would be brought in by little nippers whose parents were
travelers and supportive of an easy, painless fund-raiser.


Come May Fete day, I'd take off at Noon and join a friend to separate and
count the take. We'd chalk our version of acceptable conversion rates for
each major country's cash for prospective buyers on a chalkboard beside the
booth (and note possession of strange money to be bargained for). Then at
the opening bell, we would be busy for an hour of two with folks planning
foreign vacations or business travel. With the entire take going to the
school, we could be generous, however there always arguments over what to
do with old devalued coins and currency and the occasional contribution in
Occupation Marks or Yen. Something interesting like a Maria Theresa thaler
would always show up, and a couple of coin collectors would always show up
to paw through the remains.

Any unsaleable "leftovers" could be saved for future years, and the
strange, unsaleable coins - often those big iron Chinese sort with the
square holes - could go to classroom use. The booth always made "big" money
for the school, when compared to more fun-oriented activities. Even today,
such a scheme might work at a Charity Fair, although those Uropeens have
certainly spoiled the broth, leaving all those assorted old coins and
nowhere to spend'em.

TMO

Sounds like a great idea. Not sure how well it would work in our little
village though. We don't tend to be frequent overseas travellers here,
being such a long way from the rest of you. Bearing in mind that I got
my coins from my one-and-only trip-of-a-lifetime, and few of my friends
have travelled further than Bali, Noumea, Nadi or Auckland. In fact,
most have never been overseas.

But a good idea, worth pursuing.

Cheers, Alan
--