I had such a horrible experience using TransferWise in Argentina
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Replying to @thijsniks @transferwise
I couldn’t get the debit card to work at most ATMs (there are two major ATM networks there, worked at LINK but not the bigger one). ATMs said it was declined, Transferwise approved. Ate up my available ARS balance throughout the whole trip. Bad support. Also the fees.
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Replying to @ghod @transferwise
Ah, I considered using ATMs but didn’t because of the 8% local transaction fees. The card otherwise worked fine at terminals
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Replying to @thijsniks @transferwise
Yeah ATM fees were 300-700 ARS... brutal. Why do you use your TW card at point-of-sale vs a rewards-bearing card with no foreign transaction fees?
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Replying to @ghod @transferwise
I don’t have a rewards bearing card without transaction fees
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Replying to @thijsniks @transferwise
Gideon Retweeted Thijs Niks
I was thinking Apple Card or Amexhttps://twitter.com/thijsniks/status/1219452455806697474?s=21 …
Gideon added,
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Replying to @ghod @transferwise
Hm, the Amex Cash Magnet has a 2.7% fee but I… forgot about the Apple Card? Using mostly cash anyway, because that saves 25%
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Replying to @thijsniks @transferwise
Ah yeah I remember the 2.7% number. Yeah no fx fee on the Apple Card I believe (less MC’s 1%?). Where are you saving 25%?
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Replying to @ghod @transferwise
Thijs Niks Retweeted Thijs Niks
Cards use the official exchange rate of 1:60, whereas the unofficial rate is 1:75 and Western Union gets you that. 15/60 = 25%https://twitter.com/thijsniks/status/1219366630083518464 …
Thijs Niks added,
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1:75 includes transaction cost
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Replying to @thijsniks @transferwise
This happens for regular purchases at point of sale too?
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