Dynamic Currency Coversion Should Be Illegal
#1
Original Poster
Join Date: Feb 2008
Posts: 939
Dynamic Currency Coversion Should Be Illegal
Dynamic Currency Perversion is a disgrace and a sly way to rip off travelers. I have heard it discussed but never came across it while abroad until now. In a recent trip to Tenerife, Spain (otherwise great destination) I found that a couple of the gift shops offered-- I mean forced this on me. It actually said on the receipt that I certify that I was offered a choice of currencies and choose to have my Euro purchase converted to US dollars. I told the shopkeepers that this is not true, that I want to pay in Euros, and that I refused the dynamic conversion. They didn't understand why I was angry and had no way to overriide it-- said it was a function of the banks not them, showed me a pile of receipts from other tourists who paid in other currencies. So I crossed off the dollar amounts and the "I agree to pay in USD" on the receipt but of course I found when I got home that the charges had gone through anyway at the inflated conversion rates, with the additional VISA surcharge on top of it. This is patently unfair and sleazy and should be illegal but I got tired fighting about it and didn't spend enough money on gifts to dispute it with my credit card company-- though I feel I should do so just on principle. Not one of the restaurants tried this, just gift shops catering to tourists.
#2
FlyerTalk Evangelist
Join Date: Mar 1999
Posts: 12,097
#3
Join Date: Aug 2006
Location: ATL, BHM, DUB, County Wexford
Programs: DL DM, AA ExPlt, Diamond HH, HY, BW, & Titanium Elite Marriott
Posts: 4,863
I mark through and write "I demand to be charged in Euros, no conversion authorized." I mark out anything else on the receipt and sign it. If it comes in any other way I charge it back. If enough of us do it, they will stop the crap. You should do it and so should everyone else so that they get tired of charge backs and stop this practice.
If it doesn't cost them more than they profit from it, then they will continue to do it.
If it doesn't cost them more than they profit from it, then they will continue to do it.
#4
FlyerTalk Evangelist
Join Date: Jul 2003
Posts: 11,377
Absolutely dispute it.
Visa requires you to be given a "meaningful choice".
http://usa.visa.com/personal/using_v....html#anchor_4
Visa requires you to be given a "meaningful choice".
What is dynamic currency conversion?
Some merchants now offer to convert your purchase into your home currency. This is called dynamic currency conversion and means the merchant—and not Visa—is converting the currency. As a consumer, you may value knowing the exact price in your home currency at the point of sale, but you should be aware that you may be charged extra for this service by the merchant. Visa requires that you be provided a meaningful choice at the point of sale and you have the right to buy your purchase in the local currency to avoid any additional fees the merchant may assess. Visa also requires merchants offering this service inform you of the exchange rate, including any applicable commission being charged.
Some merchants now offer to convert your purchase into your home currency. This is called dynamic currency conversion and means the merchant—and not Visa—is converting the currency. As a consumer, you may value knowing the exact price in your home currency at the point of sale, but you should be aware that you may be charged extra for this service by the merchant. Visa requires that you be provided a meaningful choice at the point of sale and you have the right to buy your purchase in the local currency to avoid any additional fees the merchant may assess. Visa also requires merchants offering this service inform you of the exchange rate, including any applicable commission being charged.
#5
Join Date: Feb 1999
Location: Denver CO
Posts: 3,682
I recommend disputing it too. Unfortunately, this seems the only way to stop or slow down DCC-it will tie the merchant up in paperwork and maybe at the end of enough chargebacks, they'll stop using processors who do this.
#6
Original Member
Join Date: May 1998
Location: Reno, NV (RNO)
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Posts: 4,707
Is there anyway for the merchant to force the credit card processing machine not to use DCC? I ran into this a few times in Ireland 4 years ago and in every case the merchant had no clue how to override DCC.
#7
FlyerTalk Evangelist
Join Date: Jul 2003
Posts: 11,377
They are supposed to have to select DCC or not for *each* individual transaction.
#8
Join Date: Jul 2005
Location: BOS
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Posts: 1,368
#9
FlyerTalk Evangelist
Join Date: Jul 2003
Posts: 11,377
#10
Join Date: Jan 2008
Location: Singapore
Programs: SPG Lifetime Gold
Posts: 247
Absolutely dispute it.
Visa requires you to be given a "meaningful choice".
http://usa.visa.com/personal/using_v....html#anchor_4
Visa requires you to be given a "meaningful choice".
http://usa.visa.com/personal/using_v....html#anchor_4
#11
In memoriam
Join Date: Jan 2006
Posts: 4,020
IMHO best thing to do is to dispute via letter to special billing error address on your bill. This brings into effect consumer protections of Fair Credit Billing Act. You have 60 days from date of mailing of bill with disputed charge.
A phone dispute or an email will not protect you.
A letter to your Congressional rep is not a bad idea, either.
A phone dispute or an email will not protect you.
A letter to your Congressional rep is not a bad idea, either.
#12
Join Date: Jan 2008
Location: Singapore
Programs: SPG Lifetime Gold
Posts: 247
IMHO best thing to do is to dispute via letter to special billing error address on your bill. This brings into effect consumer protections of Fair Credit Billing Act. You have 60 days from date of mailing of bill with disputed charge.
A phone dispute or an email will not protect you.
A letter to your Congressional rep is not a bad idea, either.
A phone dispute or an email will not protect you.
A letter to your Congressional rep is not a bad idea, either.
#14
Join Date: Jan 2008
Location: Singapore
Programs: SPG Lifetime Gold
Posts: 247
Yea, thats kind of a pain though. Although if there was a list of known places that force DCC on you, then we would know where to make sure we specify it (or just pay in cash).
#15
Join Date: Mar 2001
Location: Copenhagen
Programs: EBS
Posts: 729
I think most tourist travelling will just say how smart, I can see the bill in my own currency, I have done it too, stupied me:
"They didn't understand why I was angry and had no way to overriide it-- said it was a function of the banks not them, showed me a pile of receipts from other tourists who paid in other currencies."
The problem with DCC is that most people are "ripped-off" without knowing it. Even if people are asked what way they want to pay, they have no idea on the difference.
Last edited by bjerregaard; Jul 5, 2009 at 4:31 pm