foreign exchange fee on dues

[Snack Daddy]

I'm brand new to DVC, I'm assuming I can pay my dues online with a credit card. I live in Canada, is there a foreign exchange fee if I do so?

 

[dcfromva]

I'm brand new to DVC, I'm assuming I can pay my dues online with a credit card. I live in Canada, is there a foreign exchange fee if I do so?

I believe that is up to your credit card issuer (but I'm not sure how it works in Canada).

My credit card account has a Featured Benefits section where it lists, "No Foreign Transaction Fees*"

 

[Matty B13]

My JetBlue card has no fees.

Just do a web search for "credit cards with no foreign transaction fees".

 

[Snack Daddy]

I'll rephrase the question, if I make a purchase on my credit card at Disney I get a foreign transaction fee. Where I'm using it online is the fee still applied because it is real estate in Florida?

 

[Cyberc1978]

In my country most banks charge an additional 1,5% on top of the exchange rate.

 

[dcfromva]

I'll rephrase the question, if I make a purchase on my credit card at Disney I get a foreign transaction fee. Where I'm using it online is the fee still applied because it is real estate in Florida?

You need to look at your credit card terms and conditions. The foreign transaction fee is added on by the credit card company. It doesn't matter if the transaction is in person or online- it just matters if you are buying something that isn't in the same currency that your credit card normally uses. In the US, some credit cards charge this fee (and some don't)--maybe it is different in Canada and ALL credit cards there charge this fee? But, obviously if you can get one that doesn't that would be preferred (and you could use that card when you visit WDW in the future and save yourself 1.5% )

It sounds like the credit card you hold charges this fee. As Matty B13 mentioned--just google search for a credit card that doesn't charge that fee.

 

[Greg36]

Roger’s bank has a free CC and they charge no mark up on currency exchange. They give some cash back on purchases. We often use this card to pay maintenance fees. We are also in Canada.

 

[I Run Long]

We are in Canada too. I just use a US dollar credit card (we're with CIBC). So I have a US dollar savings account that I transfer some money in monthly and then I use my US dollar credit card to pay the dues. I've set it up in my DVC account to automatically pay the fees with the credit card. If I used my regular credit card then, yes, I would have a foreign transaction fee appled.

 

[Snack Daddy]

Thanks for all the help, new credit card it is then.

 

[stevelle]

Another Canadian here. I buy gift cards throughout the year that I get credit card points on, then use the gift cards to pay my dues. But I do also have a credit card with no foreign exchange fees when I travel.

 

[tgropp]

I have the Scotiabank Passport Visa Infinite card. No foreign transaction fee, 2% rewards and six free airport lounge passes

 

[accm]

As others have said, we buy gift cards and use that to pay our dues. We also have a no foreign exchange fee card, but we get better rewards buying GCs, so that’s what we do

 

[Isamar]

Just to flesh out what others have already suggested: You can buy Disney gift cards at many stores here in Canada. Availability can be unpredictable but tends to be better in late November and December as Christmas approaches.

You can then use the gift card to pay your Disney dues online. Disney applies the prevailing CAD-USD exchange rate (I think they use the closing rate as of the previous business day). They do not charge any additional exchange fees. I often buy the gift cards whenever I see them throughout the year, and then apply them to future DVC dues whenever I notice that the CAD-USD exchange rate is more favourable.

n.b. This method is particularly good if you're able to buy the gift cards with a credit card that earns some kind of rewards.

Re. USD credit cards and bank accounts: this can also be a good method (depending on the fees they might charge) and I do use them too. But unless you have a source of USD to fund them, you will still have to buy USD. Banks may offer a better exchange rate to a customer with a USD account vs. others, but they're generally still going to charge a foreign exchange fee such that the effective exchange rate may still be less favourable than what you'd get at, for example, one of those currency exchange places in the mall.

 

[mort1331]

I have the Scotiabank Passport Visa Infinite card. No foreign transaction fee, 2% rewards and six free airport lounge passes

good card but has a $150 annual fee.....need to spend a lot in foreign fees to catch that.
We have RBC account both here and in US. We transfer funds south when rates are good and then have DVC take out monthly.

 

[Minnie84]

We are in Canada too. I just use a US dollar credit card (we're with CIBC). So I have a US dollar savings account that I transfer some money in monthly and then I use my US dollar credit card to pay the dues. I've set it up in my DVC account to automatically pay the fees with the credit card. If I used my regular credit card then, yes, I would have a foreign transaction fee appled.

Just came across this because I’m thinking about changing to monthly payments this year. How did you set up to pay with a credit card? I keep reading that I need a US debit account for the dues to come out of. I have RBC cross border banking, so technically I do have a US based account that I could set up, but I’d prefer to pay with my US credit card monthly instead since I don’t keep cash in that debit account. Just wondering how you do it so I can too!

 

[I Run Long]

Just came across this because I’m thinking about changing to monthly payments this year. How did you set up to pay with a credit card? I keep reading that I need a US debit account for the dues to come out of. I have RBC cross border banking, so technically I do have a US based account that I could set up, but I’d prefer to pay with my US credit card monthly instead since I don’t keep cash in that debit account. Just wondering how you do it so I can too!

As far as I understand it, in order to pay monthly you have to have a US bank account as you said, for the funds to be withdrawn. I don't believe you can pay monthly with a US$ credit card. I pay the entire sum annually with my US$ credit card but I save the funds monthly in a separate US$ savings account so that when the bill comes due, it's a simple transfer to pay off the card.

 

[erionm]

Just came across this because I’m thinking about changing to monthly payments this year. How did you set up to pay with a credit card? I keep reading that I need a US debit account for the dues to come out of. I have RBC cross border banking, so technically I do have a US based account that I could set up, but I’d prefer to pay with my US credit card monthly instead since I don’t keep cash in that debit account. Just wondering how you do it so I can too!

There are two automatic payment options. Monthly from a US checking account or annual to a credit card.

 

[Minnie84]

As far as I understand it, in order to pay monthly you have to have a US bank account as you said, for the funds to be withdrawn. I don't believe you can pay monthly with a US$ credit card. I pay the entire sum annually with my US$ credit card but I save the funds monthly in a separate US$ savings account so that when the bill comes due, it's a simple transfer to pay off the card.

Ok gotcha. That’s what I thought. Haven’t had my morning coffee yet so I thought I read you paid monthly by credit card. I’ll just pay the whole thing at once again.