Epassporte ATM withdrawl and exchange fees - GoFuckYourself.com

webgurl · 09-29-2007, 11:32 AM

Has anyone recently did a withdrawl with ePassporte
at ATM ?
I heard from few guys now that they are charging
extra 1-3% for exchange rates and useage fee
Here is couple examples from actual fees from
people who mentioned what they say on their
withdrawl statments

Amount: $450.00 CDN = $456.99 USD
Exchange Rate: $1.00 USD = $0.9847 CDN

Amount: $460.00 CDN = $470.49 USD ???

Exchange Rate: $1.00 USD = $0.9847 CDN

and even my partner said his last withdrawl on ATM
charged him over $14.00 worth of fees + exchange rate

The amounts don't even seem consistant ?

GrouchyAdmin · 09-29-2007, 11:34 AM

Different banks charge you for currency exchange and withdrawl as well.

PMdave · 09-29-2007, 11:47 AM

yup it's the bank processing the atm that decides the exchange rates

Antonio · 09-29-2007, 11:56 AM

epass only charges $2 for the withdrawal

Zuzana Designs · 09-29-2007, 11:58 AM

only 2$ here as well

peterk · 09-29-2007, 12:00 PM

2$ + bank fees

fuzebox · 09-29-2007, 12:21 PM

Quote:

Originally Posted by PMdave

yup it's the bank processing the atm that decides the exchange rates

Nah, epassporte's rates are always off as well. I've used different cards in the same machine back to back, (US-based bank card and epassporte debit) in foreign countries, and had different debited results (not counting the $2 fee).

After Shock Media · 09-29-2007, 12:24 PM

Was just gunna say I been told elsewise about the fee's, then saw fuzes post and basically is saying what I was gunna post.

GrouchyAdmin · 09-29-2007, 12:48 PM

Quote:

Originally Posted by fuzebox

Nah, epassporte's rates are always off as well. I've used different cards in the same machine back to back, (US-based bank card and epassporte debit) in foreign countries, and had different debited results (not counting the $2 fee).

If you see a different amount for the same amount withdrawed, and it shows that full amount in your ePass statement, how is that anything BUT the bank?

Violetta · 09-29-2007, 01:17 PM

I have never checked the fees

HS-Trixxxia · 09-29-2007, 01:43 PM

Quote:

Originally Posted by PMdave

yup it's the bank processing the atm that decides the exchange rates

Well the 'bank' doesn't actually decide anything - the bank just tells them what the person withdrew. The bank processing the withdrawal decides the transaction fee - but they cannot decide the exchange rate. The bank of the issuing card decides the rate for the day.

The Epass fees are:
ATM Via Physical/Plastic Card: US$2.00 (as per their site)

Example:
I withdrew $300.00 but now they are making it SEEM like the BANK is charging the proposterous amount. In fact, my bank is selling US at 1.015 So $300 + $1.50 for withdrawals from foreign cards = $ 301.50 x 1.01535 = $ 306.13 = it's a heck of a far cry from this:

Visa 28 Sep 2007 MYBANK*** $-310.48 $-312.48

Just FYI - normally the amount withdrawn from the bank is what is shown in the first column - and the AMOUNT + FEES + EXCHANGE RATE is on the second column. It's now changed. They've also removed the currency you withdraw in, next to the amount withdrawn (if you are withdrawing from a canadian bank - you would see CAD next to the amount withdrawn in Canadian) Now it's not there anymore.

There's an additional $4.35 USD being taken *from what they are making it seem like it's coming from my bank**

I think their issues this week was because they had to prepare for the falling US dollar. They are taking an extra .025% per transaction it seems. I also think it's the going rate between the buy and sell exchanges. (example: the difference between the buying rate & selling rate is .034% or points)

Also - the Canadian bank requests the amount - it's Epassporte's (St.Kitts-Nevis-Anguilla National Bank Ltd - International Visa Center) that determines the exchange they will charge you. They have to payout the foreign bank in the foreign banks currency & it depends on their reserve in that currency and the cost to buy that currency today that will determine the rate.

Sorry for the long post... hehehe

HS-Trixxxia · 09-29-2007, 01:51 PM

Webgurl - your friends actually got a bargain compared to me

Papillon · 09-29-2007, 01:59 PM

Trixxxia - all your posts are excellent

Always full of info heh

HS-Trixxxia · 09-29-2007, 02:06 PM

Quote:

Originally Posted by Papillon

Trixxxia - all your posts are excellent

Always full of info heh

Thank you

But I do think in my own example there's something wrong with my calculation cuz the difference is WAY too much compared to the others.

Webgurl - my question to you is - is that a corporate account or personal account? **not sure if there are corporate accounts with an actual physical card** (which may explain some of the difference - corporate probably get a better deal)

Vick! · 09-29-2007, 04:57 PM

I don't know how much epass exactly charges, but exchange rates are always 3% less then other banks. So, I loose 3% cash when I use epass ATM.

webgurl · 09-29-2007, 05:38 PM

Quote:

Originally Posted by HS-Trixxxia

Thank you

But I do think in my own example there's something wrong with my calculation cuz the difference is WAY too much compared to the others.

Webgurl - my question to you is - is that a corporate account or personal account? **not sure if there are corporate accounts with an actual physical card** (which may explain some of the difference - corporate probably get a better deal)

Hey Trixxxia , i have both business account and personal *yes you can have corporate ePass Card as well
I haven't done a withdrawl on ePass at ATM for over a month .
These are just experiences from people I know that have
been complainting about this ....

HS-Trixxxia · 09-29-2007, 06:55 PM

Quote:

Originally Posted by webgurl

Hey Trixxxia , i have both business account and personal *yes you can have corporate ePass Card as well
I haven't done a withdrawl on ePass at ATM for over a month .
These are just experiences from people I know that have
been complainting about this ....

Cool - was thinking that perhaps they actually got a better deal on the exchange (although it depends on the date they went to withdraw - and whether it was future-dated). I'll have to call HSBC to find out 'if' they charge anything extra for a 'debit card' but I doubt it since it hasn't been that way before.

Thanks for making me take notice though heheheh perhaps it's time I switch to cheques again.

NinjaSteve · 09-29-2007, 07:33 PM

I'm not sure about epassporte but here's how my US bank treats the withdrawal...

My bank and MasterCard charge 1% which means a total of 2% charge on a withdrawal. This is assessed to the USD. So if you withdrawal $100 USD and get any foreign currencty they will take about $2 USD from the account. I'm not sure if it's a straight up 2% of the $100 or if it's 1% of $100, and then 1% of the $99.

NinjaSteve · 09-29-2007, 07:40 PM

Can you link your epassporte to a non-us bank? And here's an interesting article about conversion regarding banks. http://www.bankrate.com/brm/news/cc/20050624b1.asp

NinjaSteve · 09-29-2007, 08:35 PM

Speaking of currency conversion, this link is cool
http://www.flyerguide.com/wiki/index...reign_Exchange

And ePassporte Terms and Conditions
https://www.epassporte.com/secure/le...ction=as_go_tc

Quote:

XIII. International transactions
The exchange rate between the transaction currency and Your billing currency that is used for processing international transactions is a rate selected by Visa from a range of rates available in wholesale currency markets for the applicable central processing date, which may vary from the rate Visa itself receives on the government-mandated rate in effect for the applicable central processing date.
A one percent (1%) International Service Assessment fee may be charged by Visa on all international transactions.

Quote:

11. ATM Fees. An ATM fee of US$2 will be assessed to Your Account for each transaction whereby You obtain or try to obtain cash or a balance inquiry from Your Account. This fee will be assessed at the time of the transaction, and is in addition to the fee charged by the owner of the ATM.

So it looks like Visa charges the %1 of USD on transactions, and Visa overall determines the exchange rate, epassporte charges you a $2 fee, and then if the ATM charges fees you'll get hit with those.

okdesign · 09-30-2007, 02:23 AM

epass only charges $2 for the withdrawal,
exchange rate is set by VISA!

Ross · 09-30-2007, 07:39 AM

My withdrawal limit on epass is $320 per day. For that I can withdraw £150.

£150 = $313.40 from epass.
The Pound to USD rate right now is £1 = 2.03869 USD.
So using that rate it should cost me $305.53 plus epasses $2 fee. There's still a difference of almost $6.

V_RocKs · 09-30-2007, 10:58 AM

I pay $2...

webgurl · 09-30-2007, 12:00 PM

Quote:

Originally Posted by Ross

My withdrawal limit on epass is $320 per day. For that I can withdraw £150.

£150 = $313.40 from epass.
The Pound to USD rate right now is £1 = 2.03869 USD.
So using that rate it should cost me $305.53 plus epasses $2 fee. There's still a difference of almost $6.

omg ross i feel for u

Thought we had it bad in Canada ....

Cash · 10-01-2007, 12:01 AM

For currency exchange, the fees are 4%.

NinjaSteve · 10-01-2007, 01:29 AM

Quote:

Originally Posted by Cash

For currency exchange, the fees are 4%.

Where do you see this?

picaso · 10-01-2007, 01:40 AM

2$ fee plus the currency exchange fee

bigalownz · 10-01-2007, 02:32 AM

i all ways wonder about epassporte fee and exchange rates

and how they work it out

is it the exchange rate of the time it withdrawl

or

the exchange rate at the end of the day

or

the highest or lowest rate of the day

09-29-2007, 11:32 AM	#1
webgurl Confirmed User Join Date: Aug 2002 Location: Clouds with Carebears Posts: 7,954	Epassporte ATM withdrawl and exchange fees Has anyone recently did a withdrawl with ePassporte at ATM ? I heard from few guys now that they are charging extra 1-3% for exchange rates and useage fee Here is couple examples from actual fees from people who mentioned what they say on their withdrawl statments Amount: $450.00 CDN = $456.99 USD Exchange Rate: $1.00 USD = $0.9847 CDN Amount: $460.00 CDN = $470.49 USD ??? Exchange Rate: $1.00 USD = $0.9847 CDN and even my partner said his last withdrawl on ATM charged him over $14.00 worth of fees + exchange rate The amounts don't even seem consistant ?

09-29-2007, 11:34 AM	#2
GrouchyAdmin Now choke yourself! Industry Role: Join Date: Apr 2006 Posts: 12,085	Different banks charge you for currency exchange and withdrawl as well. __________________ AIM: GrouchyGfy

09-29-2007, 11:58 AM	#5
Zuzana Designs All Your Design Needs Industry Role: Join Date: Feb 2005 Location: [email protected] Posts: 20,851	only 2$ here as well __________________ Website Design - Consulting - Development sarah [at] zuzanadesigns.com - See Our Work

09-29-2007, 12:00 PM	#6
peterk Confirmed User Join Date: Aug 2007 Posts: 3,529	2$ + bank fees __________________ Bogat mama ala cu loturi de trafic

09-29-2007, 12:24 PM	#8
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	Was just gunna say I been told elsewise about the fee's, then saw fuzes post and basically is saying what I was gunna post. __________________ [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

09-29-2007, 11:47 AM	#3
PMdave Confirmed User Join Date: Dec 2003 Posts: 1,517	yup it's the bank processing the atm that decides the exchange rates

09-29-2007, 11:56 AM	#4
Antonio Too lazy to set a custom title Join Date: Oct 2001 Location: Spartaaaaaaaaa Posts: 14,136	epass only charges $2 for the withdrawal

09-29-2007, 01:17 PM	#10
Violetta Affiliate Join Date: Jul 2004 Posts: 28,735	I have never checked the fees __________________ M&A Queen

09-29-2007, 01:51 PM	#12
HS-Trixxxia Confirmed User Join Date: Mar 2002 Location: Montreal Canada Posts: 2,946	Webgurl - your friends actually got a bargain compared to me __________________ ~~♥~~♥~~♥~~♥~~♥~~♥~~♥~~♥~~ Patrizia COO - ♥ MassiveDollars Email: patrizia at MassiveDollars dot com ICQ: 465.826.441 Yahoo: trixxxia_me MSN: trixxxia at hotmail dot com

09-29-2007, 01:59 PM	#13
Papillon Confirmed User Join Date: Sep 2007 Posts: 254	Trixxxia - all your posts are excellent Always full of info heh

09-29-2007, 04:57 PM	#15
Vick! Confirmed User Industry Role: Join Date: Nov 2005 Location: 20 00'24.00" N, 75 09'00.00 W Posts: 6,882	I don't know how much epass exactly charges, but exchange rates are always 3% less then other banks. So, I loose 3% cash when I use epass ATM. __________________ Affordable Quality Web Hosting

09-29-2007, 07:33 PM	#18
NinjaSteve Too lazy to set a custom title Industry Role: Join Date: Dec 2003 Posts: 11,089	I'm not sure about epassporte but here's how my US bank treats the withdrawal... My bank and MasterCard charge 1% which means a total of 2% charge on a withdrawal. This is assessed to the USD. So if you withdrawal $100 USD and get any foreign currencty they will take about $2 USD from the account. I'm not sure if it's a straight up 2% of the $100 or if it's 1% of $100, and then 1% of the $99. __________________ ...

09-29-2007, 07:40 PM	#19
NinjaSteve Too lazy to set a custom title Industry Role: Join Date: Dec 2003 Posts: 11,089	Can you link your epassporte to a non-us bank? And here's an interesting article about conversion regarding banks. http://www.bankrate.com/brm/news/cc/20050624b1.asp __________________ ...

09-30-2007, 02:23 AM	#21
okdesign ICQ 278367136 Industry Role: Join Date: May 2002 Posts: 24,772	epass only charges $2 for the withdrawal, exchange rate is set by VISA! __________________ Webmasters, Come here for SUPER BIG TITS Highest Conversions, Highest Retention!

09-30-2007, 07:39 AM	#22
Ross Ik ben een aap Industry Role: Join Date: Sep 2002 Location: Traffic Force Towers, Canada! Posts: 18,874	My withdrawal limit on epass is $320 per day. For that I can withdraw £150. £150 = $313.40 from epass. The Pound to USD rate right now is £1 = 2.03869 USD. So using that rate it should cost me $305.53 plus epasses $2 fee. There's still a difference of almost $6.

09-30-2007, 10:58 AM	#23
V_RocKs Damn Right I Kiss Ass! Industry Role: Join Date: Dec 2003 Location: Cowtown, USA Posts: 32,409	I pay $2...

10-01-2007, 12:01 AM	#25
Cash Click on my TCG signature Join Date: Feb 2002 Posts: 20,825	For currency exchange, the fees are 4%. __________________ $9.95/month for 15000 GB bandwidth monthly, unlimited (sub)domains and MySQL5, PHP4/5, 500 GB disk storage! ; use any of these invitation codes: 216263692101; 408636009193; 846090586647; my ICQ 30160426!

10-01-2007, 01:40 AM	#27
picaso Too lazy to set a custom title Join Date: Jun 2007 Posts: 11,247	2$ fee plus the currency exchange fee

10-01-2007, 02:32 AM	#28
bigalownz Confirmed User Industry Role: Join Date: Aug 2005 Location: NEW ZEALAND Posts: 1,657	i all ways wonder about epassporte fee and exchange rates and how they work it out is it the exchange rate of the time it withdrawl or the exchange rate at the end of the day or the highest or lowest rate of the day __________________ $100 free credit for all hosting needs