My last CitiBank Statement came with a letter and a leaflet regarding new fees and increases to fees. One that caught my eye was:
Quote:
Foreign Currency Conversion Fee
2.5% of Transaction Amount of which up to 2% of Transaction Amount is payable by Citibank to Visa and/or Citishare Corporation. The total Fee amount is included in the Transaction Amount shown on Your Statement.
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I have been using a Citibank redicredit card overseas since NM had pointed out that CitiBank had no foreign currency conversion fee, unlike Amex or Visa.
I am trying to relate the phrase "payable by Citibank to Visa and/or Citishare" and how it may affect the cost of FT cash when O/S.
Is my ready credit account now doomed? I will cancel it if I have to pay a ForeX fee.