Any recent stories of dynamic currency conversion?
Sep 14th, 2006, 03:07 PM
#101
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C1 has about a dozen credit card products. They all have different rates, rules, and fees. Generalizations are useless.
(And by the way, the 1% network fee is properly the "International Service Assessment.")
(And by the way, the 1% network fee is properly the "International Service Assessment.")
Oct 30th, 2006, 10:08 AM
#102
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Just returned from our trip to Europe - 2 weeks and the only place that tried to do the DCC was in London at the Riverbank Park Plaza Hotel.
The worst part is the receipt had a note that they had converted the charge to dollars and "added a 3.5% commision charge"
I promptly asked for the charge to be voided and to be charged in pounds only. The difference is almost $10 on a £50 bill...
The worst part is the receipt had a note that they had converted the charge to dollars and "added a 3.5% commision charge"
I promptly asked for the charge to be voided and to be charged in pounds only. The difference is almost $10 on a £50 bill...
Jul 8th, 2007, 08:38 AM
#104
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Ok, I am officially confused. As an American travelling in Italy, I understand that I will NOT want mrechants to use DCC. I thought that meant that I would want to be charged in Euros and let the credit card company do the conversion on the back end, but in one of the posts below, it seemed as if I would want to ask to be charged in dollars, which seems counter-intuitive: That would be the DCC thing, yes. Can anyone clarify?
Ken
Ken
Jul 8th, 2007, 08:42 AM
#105
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We were just in France for almost 2 weeks and never came across this until at the airport to come home. I was buying liquor and the store asked if I wanted my charge to be in dollars or euros, so at least I was given a choice.
Jul 8th, 2007, 09:09 AM
#106
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kdkhan,
In Italy you want to be charged in euros. When a merchant uses DCC, they are setting the exchange rate, almost always unfavorable for you. This rate can be as high as 5% over the official rate.
In order to prevent getting gouged by YOUR credit card, make sure you have a card that does not charge more than 1% total (including the MC/VISA fee) for foreign transactions. If you need suggestions, do a search here on fodors for possibilities.
In Italy you want to be charged in euros. When a merchant uses DCC, they are setting the exchange rate, almost always unfavorable for you. This rate can be as high as 5% over the official rate.
In order to prevent getting gouged by YOUR credit card, make sure you have a card that does not charge more than 1% total (including the MC/VISA fee) for foreign transactions. If you need suggestions, do a search here on fodors for possibilities.
Jul 9th, 2007, 06:45 AM
#107
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We just got back from Ireland were charged in USD at Highland Hotel, Glenties, Co. Donegal. I asked the young woman to change it and she said she couldn't. I should have called the manager but wrote that Euros weren't offered. I noticed that they put that I was offered Euros on the slip. I wrote to C1 and it's now taken off my statement. I assume that they are looking into it and will hopefully take care of it. I have also posted the Highland Hotel "mistake" every where I can think of. Kathie
Jul 9th, 2007, 08:20 AM
#110
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"I have also posted the Highland Hotel "mistake" every where I can think of."
Good for you, Kathie! That Highland Hotel fraud in Glenties, Co. Donegal, Ireland needs to be exposed. (just helping the search engines find this thread
Don't forget to put a review on Trip Advisor.
Keith
Good for you, Kathie! That Highland Hotel fraud in Glenties, Co. Donegal, Ireland needs to be exposed. (just helping the search engines find this thread
Don't forget to put a review on Trip Advisor.
Keith
Jul 9th, 2007, 08:23 AM
#111
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"..she said most Americans liked to be charged in USD so that they knew what they were spending."
To me, that sounds suspiciously like, "Come on....everyone else is doing it." Remember childhood peer pressure? Sounds like grown-up peer pressure.
To me, that sounds suspiciously like, "Come on....everyone else is doing it." Remember childhood peer pressure? Sounds like grown-up peer pressure.
Jul 9th, 2007, 08:54 AM
#112
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Three Big lies concerning DCC..
1. I have no control over it. The terminal does it automatically. (Wrong, before completing the transaction, the terminal asks if the customers wishes to pay in his or her currency).
2. The US (or other currency) amount listed is just an approximation. You are paying in euro (or whatever the local currency is). Wrong...read the disclaimer you are asked to sign.
3. Once the transaction is done, I can't undo it. (Wrong...any transaction can be reversed...many just credit the transaction but it is actually possible to rescind the transaction. It is not different then when a clerk "accidentally" enters the wrong amount into the terminal (invariably more than the actual total).
The one noted above that most travellers want to know exactly what they're spending comes right out of the propaganda put out by the dcc processors trying to get merchants to sign on for this SCAM which is exactly what it is.
1. I have no control over it. The terminal does it automatically. (Wrong, before completing the transaction, the terminal asks if the customers wishes to pay in his or her currency).
2. The US (or other currency) amount listed is just an approximation. You are paying in euro (or whatever the local currency is). Wrong...read the disclaimer you are asked to sign.
3. Once the transaction is done, I can't undo it. (Wrong...any transaction can be reversed...many just credit the transaction but it is actually possible to rescind the transaction. It is not different then when a clerk "accidentally" enters the wrong amount into the terminal (invariably more than the actual total).
The one noted above that most travellers want to know exactly what they're spending comes right out of the propaganda put out by the dcc processors trying to get merchants to sign on for this SCAM which is exactly what it is.
Jul 10th, 2007, 07:47 PM
#115
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I hope you'll hear from others with more specific information. I'm answering more to bump it back up so others will see it. But my impression is that AMEX is not nearly as widely accepted as Visa or MC.
Jul 10th, 2007, 08:41 PM
#118
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Do you currently reserve all your hotels with AMEX? If you want to continue to do that, it's no problem, but you'll have many more options and quite likely cheaper prices using the various methods discussed on this board. The primary one is booking directly with the hotels. Another popular method is using various third party agencies such as venere.com that do not require prepayment. Another popular method is using agencies such as gtahotels.com that do require prepayment and may have cancellation penalties.
I'm not sure what AMEX does, but absent a special promotion, very few hotels will guarantee a reservation price in a currency that is not their own. If you prepay through a third party site, you can prepay in dollars typically with whatever credit card you like.
I'm not sure what AMEX does, but absent a special promotion, very few hotels will guarantee a reservation price in a currency that is not their own. If you prepay through a third party site, you can prepay in dollars typically with whatever credit card you like.
Jul 10th, 2007, 11:25 PM
#119
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Sorry to be so dense, but just signed up for Capital One because of the "no foreign exchange fee." Exactly what do I ask them so that I can decide which cc to use before I leave for Italy/Europe next week to minimize charges? AMEX charged 3% on my trip to Tahiti last winter.
Jul 11th, 2007, 02:07 AM
#120
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I can't be 100% certain, but I've read somewhere you are safe on DCC with Amex because they won't accept charges made out in the billing currency outside the country of issue. So when a merchant swipes or insert an Amex card into their terminal, DCC functions will be disabled and charges have to be made in the local currency. But you still have to deal with Amex's own foreign transaction fee of 2-3%, as well as limited acceptability in Europe.
