Foreign Currencies Purchase
Quick question about withdrawing money abroad with the Neat card.
- Does the service need to be activated?
- The Fees page stated that there is a 1.5% cut for foreign currency purchase, how does it actually works? Like this --> I withdraw 2000TWD in Taiwan, I will be charged ~HK517$ + HK7.5 ($1.5% of 517$) = HK524.5$, is it?
Thanks in advance,
There is no need to activate foreign currency purchases.
The exchange rate we use is the MasterCard rate (https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html), this is mostly the same as market rate. You can check the website to easily check what you will be charged (fill out 1.5% for bank rate). So yes, for 2000 TWD it'd be HK$524.48 (for today's rate) for shopping in a store or online. For cash withdrawal, there is an additional 2.5% charge, which is what we get charged by the network see neat.hk/fees for all fees.