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#31
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Buying gear in US
Walt wrote: Plake wrote: 1) I suspect the US stores are pressurised by the European manufacturers not to sell gear to Europeans. Is this true, and will paying cash at the store help? Yes, this is absolutely true. Not only that, but they won't sell you beer either. Sure, they'll sell you this stuff that looks like beer and has kind of a hint of beer flavour, but it's definitely not real beer. The real beer is reserved for real Americans; once they hear your accent, it's all ersatz beer for you. Try it, you'll see. bugger, that must be the problem i have in utah...must be my wisconsin accent that gives me away. |
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#32
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Buying gear in US
Steve Haigh wrote in message ...
John Red-Horse wrote: No and no. In fact, I would suggest that you avoid paying cash just because, in my experience with travels overseas, the credit card companies tend not to charge large exhange fees and premium exchange rates. What? Credit card companies give appaling exchange rates. Granted there is not up front fee or fixed charges for purchases overseas, but the rates are a rip off (at least for Visa and MC, not sure about Amex). It's tollerable for small purchases and might be cheaper than exchanging cash for small amounts, but for a large purchases you are much better off getting cash (or better still traveller's cheques) from a bank or the post office before you travel. Also, if you change now you know the rate you're getting, the dollar may recover in the next few weeks... or then again it could tumble further... In my experience, I have found that the ATM's give the best exchange rates. Of course there are lots of variables so YMMV. snoig |
#33
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Buying gear in US
Alex Heney wrote:
On Thu, 12 Feb 2004 16:41:16 +0000, Steve Haigh wrote: What? Credit card companies give appaling exchange rates. Granted there is not up front fee or fixed charges for purchases overseas, but the rates are a rip off (at least for Visa and MC, not sure about Amex). This is exactly the opposite of my experience. Visa/MC give very competitive exchange rates, while the banks range from Ok to utterly lame. The exchange booths at the airport are the worst of all. Maybe in the past but not recently. E.g. take a look at http://moneycentral.msn.com/content/Banking/Betterbanking/P41957.asp OK. I was talking about from the UK (as was the OP). And so was I in the other reference I gave (which you snipped): http://money.guardian.co.uk/travel/money/story/0,1456,964303,00.html This referes to similar practises in the UK. Specificaly it mentions "hidden charges being incorporated into your transactions" for foreign use. Many of the points in that article simply don't apply to the UK market. Some of those practices would actually be illegal here. But the point about ripping of on foreign exchange transactions does apply I'm afraid. And there are still some cards here which do not add a fee. For those that do, it is usually shown separately on your bill. No they don't show it separately (they may show a fee for cash withdrawal on top of the "built-in" fee), the article above listed about 4 issuers which don't charge the fee, but all the main ones do (apart from Nationwide who were one fo the 4 listed). And is still usually lower than the commission charged by most banks. (Typically, they will charge the same as they would for a cash advance, which is usually 1.5% - banks and travel agents often charge 2%) 2.75% is the norm. It's a rip off, that's all there is to it. But in the case of the card I use, there is no fee. They show the charge in the foreign currency (which you can match against your receipt), and the charge in UKP, so it is quite easy to work out the rate you actually got. Are you sure? They don't show the fee on a separate line, they build it into the "exchange rate". If they say there is no fee in the small print then you should be OK, but if not then you may find the fee was hidden in there all along. you'd have to be very keen to spot the rate is not what you expected, given that the rates change by the minute and would be hard pressed to find out what the true rate was at the time you bought the goods anyway. There is that. I always check the rates from a couple of places (and the newspapers) before I go, and after I come back, and assume the rate should have been somewhere in between. I've usually had a rate which was better than either. This has never been my experience over the past few years (so I really must change my card issuer). But if you have a decent card then you should see this. Afterall Visa & M/C don't have to pay the tourist rate so they should be able to give their customers excellent exchange rates. I recal they did in the past, to the point where even paying the interest on a cash withdrawal was worth while because it was stil cheaper than exchanging cash at a bank. Unless you can prove otherwise it is safe to assume that any financial institution will take money off you whenever they can, and they are not going to advertise the fact until they are forced to:-) |
#34
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Buying gear in US
Alex Heney wrote:
If you are going places where they tend to use cash, it is still cheaper (with a decent current account/debit card) to get the money from foreign ATMs than it is to buy it from a bank/post office/travel agent in this country. The post office in the UK has not charged commission for several months (years even?). On my last few trips I've used them and found the rates to be as good as the banks. Not bought Traveller's Cheques recently though, not sure if the PO sell those. If you use a card in an ATM (which I also do for convenience) you pay the fee and you still get the bank's tourist rate, which is similar to the rate at the post office. |
#35
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Buying gear in US
bdubya wrote:
He would have been able to buy a different brand (marque) of sled, though, right? Like if Polaris blacklisted him, he could still score an Arctic Cat? Or do sled manufacturers have police powers up there? I'm really curious about the enforcement mechanism there; is it like firearms in some US states, with a mandatory background check? Not sure about that, but it's definitely illegal in Canada to carry a concealed snowmobile on your person. -- //-Walt // // http://tinyurl.com/3gg3e |
#36
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Buying gear in US
On Fri, 13 Feb 2004 09:33:14 -0500, Walt
wrote: bdubya wrote: He would have been able to buy a different brand (marque) of sled, though, right? Like if Polaris blacklisted him, he could still score an Arctic Cat? Or do sled manufacturers have police powers up there? I'm really curious about the enforcement mechanism there; is it like firearms in some US states, with a mandatory background check? Not sure about that, but it's definitely illegal in Canada to carry a concealed snowmobile on your person. I saw a bar in Ontario where you had to check your hockey stick at the door. bw |
#37
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Buying gear in US
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#38
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Buying gear in US
On Fri, 13 Feb 2004 09:36:01 +0000, Steve Haigh
wrote: Alex Heney wrote: On Thu, 12 Feb 2004 16:41:16 +0000, Steve Haigh wrote: snip And there are still some cards here which do not add a fee. For those that do, it is usually shown separately on your bill. No they don't show it separately (they may show a fee for cash withdrawal on top of the "built-in" fee), the article above listed about 4 issuers which don't charge the fee, but all the main ones do (apart from Nationwide who were one fo the 4 listed). I bank with nationwide, and have a debit card from them, which is free to use anywhere (except where you use it in a ATM where the ATM owner makes a charge - this is becoming more common in this country with ATMs in shops/garages etc.) And is still usually lower than the commission charged by most banks. (Typically, they will charge the same as they would for a cash advance, which is usually 1.5% - banks and travel agents often charge 2%) 2.75% is the norm. It's a rip off, that's all there is to it. OK. I see I was somewhat out of date on that one. And in fact, my CC issuer does now make a 2.75% charge. Perhaps I'll always use the debit card when possible from now on :-) But in the case of the card I use, there is no fee. They show the charge in the foreign currency (which you can match against your receipt), and the charge in UKP, so it is quite easy to work out the rate you actually got. Are you sure? They don't show the fee on a separate line, they build it into the "exchange rate". If they say there is no fee in the small print then you should be OK, but if not then you may find the fee was hidden in there all along. I didn't actually get to go abroad in 2003, but it was still true in 2002. I know it isn't now. But then my card has changed issuer a few times in the last few years. It was originally from National & Provincial, then got taken over by Abbey National, then about a year ago (since I last went abroad), they outsourced to MBNA. I rather think the 2.75% charge came in with the move to MBNA. They also introduced a late payment fee, and started giving less leeway on the payment date at that time. Perhaps *I* should change my CC. But even though the Nationwide are very good, I'm reluctant to have everything with the same organisation. -- Alex Heney, Global Villager Famous last words - Icarus: Aaaahhhhhhhhh. To reply by email, my address is aDOTjDOTheneyATbtinternetDOTcom |
#39
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Buying gear in US
On Fri, 13 Feb 2004 09:40:33 +0000, Steve Haigh
wrote: Alex Heney wrote: If you are going places where they tend to use cash, it is still cheaper (with a decent current account/debit card) to get the money from foreign ATMs than it is to buy it from a bank/post office/travel agent in this country. The post office in the UK has not charged commission for several months (years even?). There are always some places offering "deals" such as no commission. But you often find (I haven't checked the current PO deal) that their rate will be worse to counteract that. If you're going to get money before you go, it is always worth shopping around to find out what the lowest total cost to you is for the money. On my last few trips I've used them and found the rates to be as good as the banks. Not bought Traveller's Cheques recently though, not sure if the PO sell those. If you use a card in an ATM (which I also do for convenience) you pay the fee and you still get the bank's tourist rate, which is similar to the rate at the post office. Not with the Nationwide :-) No fee, and a rate slightly better than the tourist rates. But I know the Nationwide current account is one of the best on offer in the UK. The good debit card is just one feature of that. -- Alex Heney, Global Villager Famous last words - Icarus: Aaaahhhhhhhhh. To reply by email, my address is aDOTjDOTheneyATbtinternetDOTcom |
#40
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Buying gear in US
Alex Heney wrote:
I know it isn't now. But then my card has changed issuer a few times in the last few years. It was originally from National & Provincial, then got taken over by Abbey National, then about a year ago (since I last went abroad), they outsourced to MBNA. I rather think the 2.75% charge came in with the move to MBNA. They also introduced a late payment fee, and started giving less leeway on the payment date at that time. They're all b*stards as far as I can tell, only some of them are less deceitful than others. |
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