The main ways to save money in cross-border consumption are:

1. In the absence of a Visa/Master credit card that waives currency conversion fees, it is more cost-effective to use a UnionPay channel RMB account ;

2. When there is a Visa/Master credit card that waives currency conversion fees, it is more cost-effective to use MasterCard’s US dollar card;

3. When the cardholder does not need to purchase foreign exchange In the case of repayment (that is, the payment currency is the same as the accounting currency), it is more cost-effective to use a multi-currency credit card; if you purchase foreign exchange for repayment, the multi-currency credit card is not as cost-effective as the MasterCard US dollar card.

4. If a VISA RMB credit card with no currency conversion fee is launched in the future, because the VISA U.S. dollar exchange rate has been lower than other organizations for a long time, it will be the most cost-effective cross-border U.S. dollar consumer credit card.

Another point that needs special emphasis is that for Visa/Master and other foreign card consumption transactions, the settlement date is at least one day later than the consumption date, which means that the exchange rate comparison we previously calculated only exists in theory. The actual clearing rate fluctuates with fluctuations in the exchange rate market. For large cross-border consumption, pay close attention to the exchange rate market and absorbing foreign currencies at low prices is the ultimate solution to save money