Quote:
Originally Posted by seeandsee
Why exchange rates are not centralized?
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The exchange rate for MasterCard is set for all cards based on the previous days bank rate. So its the same for everyone issuing MasterCards since MasterCard sets the rate.
If you check xe.net the rate on March 7th were 1.31
Issuing banks then have the option of adding a flat fee for for ATM transactions, a surcharge on exchange rate or a combination of both.
RedPass only charge a flat fee of $3 and have no surcharge on the exchange rate and do not plan on adding one.