Originally Posted by
oliver2002
Our company requires you to report the expenses in the local currency shown on the receipt (not the CC charge slip), which is then converted at the daily exchange rate valid at the date of the receipt and a standard 1or 2% is added automatically to cover any fx variances for you. The background here is that our company provides us with fee free credit cards (Amex and Visa) which AFAIK have a fx transaction fee. This ~2% roughly covered the DCC 'spread' encountered by my colleague, until he was hit at the DXB luxury hotel
.
My current employer also converts at the daily exchange rate, so things are fairly equal with card use overseas. For exchange rate discrepancies - I don't know how much this would carry over for DCC - one can submit a redacted credit card statement showing the USD charge. My previous employers issued Corporate AmEx cards for purchases. One required its use unless it wasn't an option, and the other preferred its use. In both of these cases, exchange rates were reconciled automatically and, being AmEx, DCC was never an issue.