Apple Cash Foreign Transaction Fee and Exchange Rate

Apple Cash has a foreign transaction fee, which is charged when you use your Apple Cash card to make a purchase or send money internationally. This fee is 1% of the transaction amount, with a minimum fee of $0.25 and a maximum fee of $10.

If you're planning to use Apple Cash abroad, it's essential to understand how exchange rates work. Apple Cash uses the Visa exchange rate, which is updated in real-time. This means that the exchange rate you see when you make a transaction is the current rate.

The exchange rate used by Apple Cash is based on the wholesale exchange rate, which is the rate at which banks and other financial institutions exchange currencies. This rate is typically more favorable than the retail exchange rate, which is the rate you see when you make a transaction.

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Apple Cash is a convenient way to make payments, but it's essential to understand the fees involved. Apple Cash has a foreign transaction fee if you use it to make purchases abroad.

Loading Apple Cash before traveling to Europe can be a good idea, but be aware that you'll be charged a foreign transaction fee. This fee is likely one of the reasons Apple switched Apple Cash from Discover to Visa.

Visa has greater acceptance overseas, making it a more practical choice for international transactions.

Using Apple Cash with Apple Pay can be a convenient way to make purchases abroad, but it's essential to understand the potential fees involved. Apple Pay with Apple Cash has a foreign transaction fee, but it's worth noting that Apple has made changes to reduce this fee.

Apple Cash used to be linked to Discover, but it's now linked to Visa, which has greater acceptance overseas. This change may be a factor in why Apple Cash now has a more favorable foreign transaction fee.

If you're using Apple Cash, you should know that there's a fee for instant transfers to your debit card. This fee is $0.25 per transfer.

You can avoid this fee by waiting a few days for the transfer to process.

The Apple Card exchange rate can be a bit of a puzzle. Apple Card has no foreign transaction fee, but some users have noticed that the exchange rate is significantly lower than the prevailing market rate.

Using Apple Card abroad can result in being overcharged due to the lower exchange rate. For example, a purchase was made for 3.45 foreign currency per dollar, while the market exchange rate was 3.65.

It's worth noting that the exchange rate can vary from shop to shop, even on the same day. Some users have reported being charged the internet exchange rate, while others were charged a higher rate.

If you're planning to use Apple Card abroad, it's a good idea to be aware of this potential issue. You might consider switching to a card with a more favorable exchange rate, or using a different payment method altogether.

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