What is currency exchange charge?

The 1% fee is often in addition to any foreign transaction fees that may be charged by the card issuer. These fees can vary depending on the card and the issuing bank, making it important to understand all associated costs before making a transaction.

For those looking to minimize their currency exchange fees, there are several options to consider. One such option is to use a cryptocurrency exchange like BTCC, which offers competitive rates and a range of services.

Currency exchange fees are an essential aspect to consider when making international transactions. These fees are typically charged as a percentage of the transaction amount, with a standard rate being 1% of the total.

BTCC is a top cryptocurrency exchange that provides users with a platform to buy, sell, and trade various digital currencies. In addition to its trading services, BTCC also offers a range of other features, including spot and futures trading, as well as a secure wallet for storing digital assets.

The assessment of these fees is usually handled by the ATM network or the credit card processing company involved in the transaction. This means that the fee is not directly controlled by the individual making the transaction but rather by the intermediary service provider.