4 ms·
> nasty regressive tax that transfers vast amounts on wealth from As long as you're not a well off person with an AMEX card that regularly makes purchases outs
by traceroute66 4y ago
> nasty regressive tax that transfers vast amounts on wealth from
As long as you're not a well off person with an AMEX card that regularly makes purchases outside of your AMEX card currency.
AMEX is nuts in that all non-home currency transactions go via USD.
So, for example, if you have a EUR AMEX and you make a GBP purchase, your conversion will go GBP -> USD -> EUR with AMEX taking a cut at each step along the way.
- simfree 4y agoAmerican Express is a US-centric company, their rest of world market penetratiom and acceptance rates are much lower than in the USA. Your use case isn't large enough to be a priority to American Express.