Does anyone know if Cembra’s Certo One World mastercard uses the “normal” mastercard exchange rate for foreign transactions (EUR in my case)?
I tried using the Mastercard rate calculator on Mastercard Currency Converter | Currency Exchange Rate Calculator but it didn’t match up with Cembra’s amount in CHF.
I’m aware they usually tack on 1.5%, but this summer they claimed to have removed that surcharge (0 bank fee). Maybe they have hidden the tax in the exchange rate…
In my case, I spent 45 EUR on the 20th of July. I was billed CHF 44.69, or an exchange rate of 0.9931. On the Mastercard website, the rate was 0.9695. So I was overcharged by 2.44%
I am myself a Certo one customer. I have never actually used the card abroad. I carry it only as a backup when traveling.
According to their fee table there is still a 1.5% surcharge on foreign currency transactions.
I cannot find any information regarding which exchange rate they are using. However, reading your post I suspect it will not be the mastercard FX rate. Or at least they are adding some % on that rate. Thats the usual way for companies to get more money out of their customers…
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Indeed there is is normally. But they are currently offering a “holiday deal” from 1st of July to 31st of August with no FX fee. Here’s the email I received in June:
Notre offre de vacances:
Cet été, vous ne payez pas de frais supplémentaires à l’étranger: Dès le 1er juillet 2024 et jusqu’au 31 août 2024, aucun frais de change ne vous sera facturé - Vous économisez donc 1,5% à chaque transaction! Cela vaut également pour les achats en ligne réalisés en monnaie étrangère.
Summer offer from Cembra
I don’t understand what this 5% saving is about.
The holidays are just around the corner – with many wonderful moments abroad. With your Certo! One Mastercard® World, you’ll benefit twice:
Until December 31, 2025 , you pay no foreign currency fees – neither abroad nor when shopping online. You save 5 % per payment – automatically and without any hassle.
And the Mastercard Summer Sweepstakes offers a chance to win a dream trip. Simply register, pay abroad, and with a little luck, you could win an unforgettable vacation.
I got the same message and I also have no idea what the 5% saving is about…
As for the exchange rate mark-up, Moneyland is showing the following:
Exchange rate markup
3.011% is the average markup of the EUR/CHF exchange rate against the interbank rate according to the latest regular samplings of moneyland.ch. The actual markup may vary daily.
Let’s say I use Certo one in Europe and spend in Euro. There are two fees
- Foreign currency processing fee (1.5%)
- Possible markup -: in the exchange rate applied by the card network
I assume #2 is whatever Masterbank likes to apply over interbank rate.
Is #1 now zero for few months?
I think that the main advantage of this fee being waived until 31.12 is that if you purchase from airlines they will not apply the FX processing fee if the transaction is processed outside of CH (even though your purchase is in CHF) - e.g. easyjet. Amex cashback has it at 2.5% and started charging it every time for some months now. This is a good alternative if one already has Certo CC.
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Okay. Now they sent a correction
It’s 1.5% savings which make sense instead of 5%
Maybe someone from Cembra is reading this forum 
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If they do: support eBill you donkeys!
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So I tried this while travelling in EU
Mastercard rate (0% bank fees)
1 Euro = 0.9413 Swiss Franc
Cembra charged rate (14 June)
1 Euro = 0.9642 CHF
Not sure what is “free” for holidays. Cembra rate is way higher than Mastercard rate
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And the transaction is fully booked? Sometimes the rate lags a little behind but I would not be surprised if their “0%” surcharge still includes some hidden internal markup on the interbankrate.
I saw this was charge on Cembra app. Not sure if this will change. Will see in couple of days