DCC alert

Mar 12th, 2011, 08:50 AM
Original Poster
Join Date: Jan 2003
Posts: 19,666
DCC alert

The dreaded Dynamic Currency Conversion has reached BHV in Paris: but at least they do offer the choice and show you exactly what the charge would be in both currencies.
PatrickLondon is offline  
Mar 12th, 2011, 09:17 AM
Join Date: Jan 2003
Posts: 17,064
Good to know, thanks
mms is offline  
Mar 12th, 2011, 09:30 AM
Join Date: Apr 2007
Posts: 2,921
Just like to add that early last year, both MC and Visa changed their user agreements to apply currency conversion fees to any purchase made outside of the geographical borders of the USA. This means that even if you use DCC and pay in dollars, if the transaction is outside of the US you still are charged the 1%-3% currency conversion fee.

If there ever was a reason to avoid DCC (and there always has been) be sure to avoid it now.
Sarastro is offline  
Mar 12th, 2011, 09:40 AM
Join Date: Jan 2003
Posts: 5,271
Sarastro....but it's worse than you think. Let's say you buy an Aer Lingus ticket off of their web site (or Orbitz or some other online booking agency) and you're in the USA and you use the credit card of one of those near criminal banks that rip you off with these foreign transaction fees. Guess what. Since Aer Lingus clears its credit card payments through an Irish bank that all these transactions, despite the fact you never really left the USA, would be subject to this it should be illegal onerous fee.
xyz123 is offline  
Mar 13th, 2011, 10:43 AM
Join Date: Jan 2003
Posts: 33,427
A little dramatic, isn't it, to keep referring to this as "near criminal." I wouldn't ever accept it, and don't know why people do except they aren't thinking clearly (anmd some people really are stupid and think they want to see the amount in USD or whatever because they have poor math skills), but why should this be illegal any more than any other kind of fee for a bank service. Banks have fees for all kinds of things, such as very high interest charges and flat fees for cash withdrawals with credit cards. Why shouldn't that be illegal following this logic. Sure, it's a service, but why should the expense be so much higher than other things. One could go on and on. Just choose a bank with fees and services you understand and fits your use best.
Christina is offline  
Mar 13th, 2011, 11:49 AM
Join Date: Jan 2003
Posts: 5,271
Why do I feel this is near criminal? Easy. The banks have nothing to do with the currency conversion; it is done by mc/visa. I expect to pay when somebody provides a service. Banks provide no service for this fee; the service is provided by mc/visa. MC/visa absorb all risks of losses due to currency fluctuations, the only reason for such a fee and I accept their 1% fee, they (mc/visa) do have a currency fluctuation fee. But the charge reaches your bank already converted and your bank plays no role, none whatsoever, in the conversion. Therefore you are beiong charged a fee and no service is provided and in my book, that's near criminal behavior. You, of course, may think differently.
xyz123 is offline  

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