What is the saving with Currenge, billing an Israeli bank issued payment card directly out of a USD or EUR account, compared to paying the card’s conversion fee?
That saving may reach about 2% of expensed amount. As an Israeli bank issued payment card, may charge a fee as high as 2.5% of foreign currency payments, about 2% of the sum may be saved.
That payment card conversion fee would not be billed if ordering the bank to charge USD or EUR nominated funds held in that bank instead of the conversion done by the payment card company. The saving from converting Shekels to USD or EUR, given transaction costs, on a Currenge transaction of at least $5,000, may reach about 2% of relevant amount.
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