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From: srm@nsc.UUCP (Richard Mateosian)
Newsgroups: net.travel
Subject: Re: American Express or Diners Club ?
Message-ID: <2679@nsc.UUCP>
Date: Thu, 9-May-85 00:57:52 EDT
Article-I.D.: nsc.2679
Posted: Thu May  9 00:57:52 1985
Date-Received: Fri, 10-May-85 03:09:09 EDT
References: <1822@topaz.ARPA> <275@moncol.UUCP> <293@bdaemon.UUCP> <163@timeinc.UUCP>
Reply-To: srm@nsc.UUCP (Richard Mateosian)
Organization: National Semiconductor, Sunnyvale
Lines: 20
Summary: 

In article <163@timeinc.UUCP> greenber@timeinc.UUCP (Ross M. Greenberg) writes:
>
>Recently I got nailed with a higher than expected bill from American
>Express from my last European sojourn. 
>
>American Express fixes the exchange rate for all (except airlines) not
>on day of purchase, but rather on day of merchant deposit.  So, when the
>dollar was falling from a high of 141 drachmas, my friendly merchant
>held onto the AMEX receipt until it had fallen to 128, then deposited it.

If your credit slip is in drachmas, then your friendly merchant can't
benefit by manipulating the posting date.  The merchant getshe fixed
number of drachmas specified.

When we were in London last Christmas, we benefitted from the drop in the
pound that occurred after we le, because merchants were slow in posting
our charges.
-- 
Richard Mateosian
{allegra,cbosgd,decwrl,hplabs,ihnp4,seismo}!nsc!srm    nsc!srm@decwrl.ARPA