On June 3, 2016 I visted the ICE Currency Exchange counter in Terminal 2 at LAX to find out about obtaining Euros for my trip to Spain and Italy.
The customer service representative said they only charge a $9.95 fee whereas my bank would charge a 3% transaction fee plus ATM fees which are usually $3-5.00. Multiple times I asked for clarification of their charges and each time she said the same thing. It seemed like a good deal. I also verbally verified that their exchange rate aligned with the true going rate. She said yes. They would charge my Visa card and I would have my Euros on hand prior to my trip. I went ahead and got $500 Euros. My bill was $662.25 USD.
I had a plane to catch so I didn't think about it much until I arrived in Europe and discovered that the actual going exchange rate was 1.13 EU for each 1.00 USD. $500 EU should have been approximately $565.00 USD. Plus the $9.95 service fee that I paid should have been a bill of at most $575.00. So why was I charged $662.25? They gave me an exchange rate of $1.30 instead of the actual $1.13. That means I paid a nearly 20% upcharge for my transaction.
To add insult to injury, I didn't realize that they charge your credit card as a cash advance. So my credit card company added the cash advance fee to my account. That was $19.95. PLUS my credit card company charged interest on that which was $8.47.
So in short, my $500 Euros now cost me nearly $700 USD. I am so disappointed in the lies this company told me. I am embarrassed that I fell for this scam. I wish to let everyone else know that it is not a good deal even if the attendant tries to sell it as such.
I found out that your best bet to get currency abroad is to use your Debit card at an ATM at your destination. 3% would have not been nearly as much as ICE Currency Exchange charged me. I want the world to know that you will get ripped off if you deal with ICE Currency Exchange at LAX Terminal 2.
Ice Currency Services Reviews
On June 3, 2016 I visted the ICE Currency Exchange counter in Terminal 2 at LAX to find out about obtaining Euros for my trip to Spain and Italy.
The customer service representative said they only charge a $9.95 fee whereas my bank would charge a 3% transaction fee plus ATM fees which are usually $3-5.00. Multiple times I asked for clarification of their charges and each time she said the same thing. It seemed like a good deal. I also verbally verified that their exchange rate aligned with the true going rate. She said yes. They would charge my Visa card and I would have my Euros on hand prior to my trip. I went ahead and got $500 Euros. My bill was $662.25 USD.
I had a plane to catch so I didn't think about it much until I arrived in Europe and discovered that the actual going exchange rate was 1.13 EU for each 1.00 USD. $500 EU should have been approximately $565.00 USD. Plus the $9.95 service fee that I paid should have been a bill of at most $575.00. So why was I charged $662.25? They gave me an exchange rate of $1.30 instead of the actual $1.13. That means I paid a nearly 20% upcharge for my transaction.
To add insult to injury, I didn't realize that they charge your credit card as a cash advance. So my credit card company added the cash advance fee to my account. That was $19.95. PLUS my credit card company charged interest on that which was $8.47.
So in short, my $500 Euros now cost me nearly $700 USD. I am so disappointed in the lies this company told me. I am embarrassed that I fell for this scam. I wish to let everyone else know that it is not a good deal even if the attendant tries to sell it as such.
I found out that your best bet to get currency abroad is to use your Debit card at an ATM at your destination. 3% would have not been nearly as much as ICE Currency Exchange charged me. I want the world to know that you will get ripped off if you deal with ICE Currency Exchange at LAX Terminal 2.