How do you pay Disney?

[Reese]

I was wondering how you pay Disney when you book through them direct? We usually book through CAA and just use money from our US savings. I want to avoid using a cc since they charge a less favourable rate.

 

[nosnobunny2006]

We always use a credit card for everything to get the points then pay off the balance when the bill comes. Sort of like two for one.

Beth

 

[SherylR]

I was going to pay on our credit card, but they give a lousy rate PLUS a 2.5% fee to do american transactions.
I'm thinking maybe just a money order and couriering it off.
I don't have a credit card that collects points but with the extra money you have to pay for fees, I'm wondering if it's worth getting?

 

[nosnobunny2006]

Gosh, I use a Canadian Tire Master Card and have never been charged for American transactions. I'm in Florida a lot because one of my daughters lives there and use it all the time. The first time I get a charge levied against me will be the day they get it back....in pieces.

Beth

 

[tone.def]

OMG - guys I have to tell you about the best thing in the world - Bank of Montreal has a *NEW* USD Mastercard - no fee, no exchange rates AND you can collect airmiles on it AND make payments from your USD bank account.

I just put my application in today

They're putting a rush on it so I can hopefully have it by the end of the month when I got to New Orleans

 

[F4disneyfan]

OMG - guys I have to tell you about the best thing in the world - Bank of Montreal has a *NEW* USD Mastercard - no fee, no exchange rates AND you can collect airmiles on it AND make payments from your USD bank account.

I just put my application in today

They're putting a rush on it so I can hopefully have it by the end of the month when I got to New Orleans

Sounds very similar to the TD US dollar card and the AA Advantage Platinum visa at TD.

 

[NikP]

Gosh, I use a Canadian Tire Master Card and have never been charged for American transactions. I'm in Florida a lot because one of my daughters lives there and use it all the time. The first time I get a charge levied against me will be the day they get it back....in pieces.

Beth

We also have the Canadian Tire mastercard. I think you might want to check the fine print. They do charge a 2.5% fee for foreign transactions. You do not see this fee separate, but combined in the exchange rate used to convert the currency to Canadian dollars. Instead of current rate of 1.19, they would charge 1.215. You have to be on top of current exchange rates to notice the fee.

I remember when using your credit card you got a better rate than at the bank. Those days are gone.

 

[punksmom]

I too have a Canadian Tire MC. I used it for my $200 down payment. I was surprised to see the charge with MC was $250 . I am just getting ready to make another payment but think I will send a cheque or money order instead. My total package is over $3000 US and with $25 dollars added to each $100 on MC I plan to find a better way to pay.

 

[Reese]

We have a visa that we've used in the past for airfare and they do charge 2.5% on top of the current exchange rate. I want to avoid paying the extra but don't want to book through CAA this time.
What are the service charges like through the BMO?

 

[nosnobunny2006]

We also have the Canadian Tire mastercard. I think you might want to check the fine print. They do charge a 2.5% fee for foreign transactions. You do not see this fee separate, but combined in the exchange rate used to convert the currency to Canadian dollars. Instead of current rate of 1.19, they would charge 1.215. You have to be on top of current exchange rates to notice the fee.

I remember when using your credit card you got a better rate than at the bank. Those days are gone.

Hmmm.... so that's where they hide it. I knew we've never had a separate entry charged. Sneaky, very sneaky.

Beth

 

[maryliz]

I too have a Canadian Tire MC. I used it for my $200 down payment. I was surprised to see the charge with MC was $250 . I am just getting ready to make another payment but think I will send a cheque or money order instead. My total package is over $3000 US and with $25 dollars added to each $100 on MC I plan to find a better way to pay.

You might want to check with WDW first about sending a cheque. I have a US dollar account and when I tried to pay my deposit by cheque from this account once, WDW sent it back to me saying they would absoutely NOT take a cheque from a Canadian bank. This was a few years ago so it might have changed. I just remember it being a pain because by the time they sent it back to me, it was past the time that my deposit was due. Huge

Those other credit cards sound pretty good ... I always just figured the extra 2.5% was just the cost of being Canadian.

 

[tone.def]

We have a visa that we've used in the past for airfare and they do charge 2.5% on top of the current exchange rate. I want to avoid paying the extra but don't want to book through CAA this time.
What are the service charges like through the BMO?

If you get their NO FEE USD MC, then no service charges.

 

[explorer1977]

We just have a US borderless Account ($4.95 per month but we save almost 0.7 cents of the bank exchange rate went excahanging money) at TD and that gets us a TD Visa US Dollar Advantage CC at no cost and no fee money orders for paying it off. This saves us the 2.5 cents that the CC charge and the savings on exchanges last year more then payed for the monthley fees. We are currently looking at getting an account based in Florida which or DVC guide is helping us out with.

 

[Northstar]

Got to second that advice about not sending a cheque drawn on your U.S. dollar account (unless your bank specifically states that your CHEQUES are good in the U.S.) Even though it's in U.S. dollars, it's not on a U.S. bank and that means the U.S. receiver of the cheque can't just send it in for collection... they have to "sell" the cheque to their bank, who sends it to Canada for collection (maybe by Pony Express and dog sled to judge by how long it takes and how long they'll put a hold on the funds). So those U.S. dollar cheques are pretty useless for paying for anything in the U.S. Much easier to get your money from an ATM in the U.S. or use a credit card.

 

[Stittsville]

I was surprised when I originally read this thread. I had no idea that we were being charged such an outrageous service charge. Sure enough, when my VISA bill came in, I saw the service charge explained in a microscopic font.

What particularily irked me was that I had a booking with Amtrak that I paid for with VISA. Later, I wanted to make some changes so Amtrak credited me for the first amount, and put a new charge on my VISA. All 3 of these were charged 2.5% (like it says in the micro font), so it ended up costing me 7.5%! I phoned CIBC and as a "one-time customer service" they refunded me the two extra service charges. CIBC said the service charges were put on by VISA Canada and they had no control over them. I was told I could complain directly to VISA about the service charge in general, which I will do.

So today, I paid CAA with a bank draft, which cost me $6. I phoned this morning to get the amount owed according to today's exchange rate (1.165), with no extra service charges by CAA. I am also planning to take traveller's cheques in $US for the other hotel and restaurant expenses I will have while away. CAA charges no fee, other than the exchange rate of course.

I also plan to phone VISA and tell that that instead of using their card for about $10,000 on this trip, they will get nothing out of it.

 

[OntFamily]

While CC companies charge a surcharge (usually 2.5%), most banks also charge currency exchange fee for a similar amount (if you want cash).

ie if you want to convert $500 CAD from your chequing account to USD cash (or a USD bank draft), the exchange fee will usually include a service charge (instead of the "official" exchange rate of $1.18, you may be charged $1.20). You'll never get the "official" bank rate, that is published in the papers.

Either way - cc or cash - the banks get their money. However, there is some logic in the fee. If you buy stocks or bonds, a commission must be paid. Buying foreign currency is a similar transaction.

 

[Stittsville]

Fortunately in my case the bank did not do the currency exchange for the trip, CAA did, and the final exchange rate was 1.165. There was no service charge. It's the same with their traveller cheques.

 

[NikP]

I never thought about getting my travellers checks at CAA. Thanks for the tip.

 

[mom_rules]

Also check the fine print on your debit cards-some are also now charging 2.5 for a foreign currency transaction fee.

 

[mom_rules]

Oh ya-how do I pay Disney? Should be by payroll deduction in installments