Some users praised the ATM currency conversion primer while many others condemned the 13.5% tourist fees as dishonest scams that even customer-friendly firms allow.
Based on 5 visible X reactions from 22 accounts; directional sample.
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Published answers will appear here.
@patio11 I do it for work travel as it makes expenses easier as my bank posts the international fees separately and sometimes a few days later. But it's such a scam and I hate it. Paypal and others try to do it as well and you have to change it back to the original currency.
@patio11 It’s remarkable how prevalent this is. Even companies that I think of as being pretty customer friendly do it. I guess no one cares if a foreigner complains
@patio11 This is a good primer. I still forget and just click through without thinking.
@patio11 i've seen that screen on mexican atms. very dishonest.
@patio11 I do it for work travel as it makes expenses easier as my bank posts the international fees separately and sometimes a few days later. But it's such a scam and I hate it. Paypal and others try to do it as well and you have to change it back to the original currency.
@patio11 It’s remarkable how prevalent this is. Even companies that I think of as being pretty customer friendly do it. I guess no one cares if a foreigner complains
@patio11 i've seen that screen on mexican atms. very dishonest.
@patio11 Insane they’re allowed to charge such a high %
Attempted to get USD from a Japanese debit card at a U.S. ATM (yeah, weird even for me) and was presented with a screen clearly designed to bamboozle a tourist into paying 13.5%, and thus will repeat the industry advice: if a machine asks you if it can convert currency, answer No
The thin reed I will offer for dynamic currency conversion is that because the final price in your home currency will be printed on the physical receipt, it is marginally more convenient to business users who want to file for a reimbursement without showing a CC statement to biz.
Many dynamic currency conversion offerings were originally sold to tourism industry on a rev share model where e.g. half of that 13.5% gets remitted to the business which allowed DCC on their terminal, perhaps as a credit against their own processing costs.
Why would you do that?!” I carry five U.S. debit cards (old habit/hobby) but hadn’t noticed that four had expired and when daily driver hit a transient decline I had no workable backup.
… you will get charged a rate whose upper limit is effectively decided by “What would cause an unacceptable number of our employees to quit out of moral disgust.
(Interestingly having gotten a camel’s nose under the tent I think some of them eventually stopped with the revenue share. Who was going to notice, etc etc.)
Some users praised the ATM currency conversion primer while many others condemned the 13.5% tourist fees as dishonest scams that even customer-friendly firms allow.
Based on 5 visible X reactions from 22 accounts; directional sample.
Ask a question below.
Published answers will appear here.
Attempted to get USD from a Japanese debit card at a U.S. ATM (yeah, weird even for me) and was presented with a screen clearly designed to bamboozle a tourist into paying 13.5%, and thus will repeat the industry advice: if a machine asks you if it can convert currency, answer No
The thin reed I will offer for dynamic currency conversion is that because the final price in your home currency will be printed on the physical receipt, it is marginally more convenient to business users who want to file for a reimbursement without showing a CC statement to biz.
Many dynamic currency conversion offerings were originally sold to tourism industry on a rev share model where e.g. half of that 13.5% gets remitted to the business which allowed DCC on their terminal, perhaps as a credit against their own processing costs.
Why would you do that?!” I carry five U.S. debit cards (old habit/hobby) but hadn’t noticed that four had expired and when daily driver hit a transient decline I had no workable backup.
… you will get charged a rate whose upper limit is effectively decided by “What would cause an unacceptable number of our employees to quit out of moral disgust.