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.