VISA Transaction fees

[Dookswah]

Could someone tell me transaction fees regarding international transfers (opening accounts for arbitrage ops.) ? I'm unsure if it's 1.5% when you put money in the account then another 1.5% when you put it back? Thanks in advance.

[becareful]

Are you talking about a fee that the bookmaker charges or a fee that the bank is charging you? Generally bookmakers charge a fee for credit card deposits but not withdrawals (although some dont charge any fees - William Hill is an example of this). If it is the bank then I am not sure - I was charged a fee a month ago by Westpac (Mastercard) for a deposit into an overseas bookmaker but have never been charged a fee for the same type of transaction with ANZ (Visa) - needless to say the ANZ account is getting all my business now.

If you are looking at arbitrage then you may find that a 1.5% deposit fee will just about wipe out any profit you will make so it may not even be worth the hastle.
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"Computers can do that????" - Homer Simpson

<font size=-1>[ This Message was edited by: becareful on 2003-04-30 20:40 ]</font>

[Dookswah]

I thought as much does this apply only to offshore bookies? as I was looking really to keep my arbs in Australia to avoid exchanging fees. I was looking to invest in arbs over about 2.5% anyway, few and far between they are. Thanks for the repply.