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September 12, 2007
Horrible exchange rate from American Express
On my recent trip back to Indonesia & Sydney, I've used my two (UK) cards to pay & withdraw money from the cash machine. HSBC gave me a rather good rate at around Rp 18,300 for £1 and AMEX shockingly gave me a mere Rp12,600 for £1. That's insane! I can't believe how bad the exchange rate given by AMEX.
I made two purchase around the same amount in Indonesia, using my AMEX card cost me £18 more than HSBC card. This is a good lesson to be learnt, never ever use AMEX outside the original country of origin (in this case UK). I've been using AMEX locally because of its cashback feature, they're giving up to 1.5% back from your total purchase. Granted it's only 1.5% but it's better than nothing.
Anyway ... no more AMEX overseas for me!
Posted by vhadiant at September 12, 2007 08:00 PM
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