boucharda said:
Re: Euro....CC charge in Euro makes sense. Best rate...(presently $1.11). Cash rate is usually LESS as evidenced by the frequent 1:1 for cash in some establishments but it should not be MORE unless stated on arrival or on the menu.
To clarify on the term "cash rate": In my post when I refer to cash rate, I am referring to the rate a consumer would normally pay to exchange the currency at a financial institution. In Canada if I take a Euro or a USD in to a bank and exchange it, many banks will charge a 4% fee -- like the CC card companies do here as well. IF the bank in the in St. Martin charge that 4% fee, and the restaurant has to pay it, then that cost would likely be passed on to the customer who chooses to pay in a foreign currency. In that case, the exchange rate the people were charged is pretty close to correct.
The 1 to 1 thing is a promo, not the "cash rate" used when determining exchange rates.
