Originally Posted by
shuigao
Noticed currency conversion fee in my latest Citi PM statement ... is this something new from Citibank?
17/04/2016 *DRI*ADOBE SALES SHANNON, CO. IE SGD 13.00
19/04/2016 *CCY CONVERSION FEE SGD 13.00 SGD 0.10
[edit] ... I guess this fee has been in place for a while now. Not sure why my Adobe transactions never got the fee until now though, maybe they only recently moved their billing system offshore or something.
I've only seen this on transactions that were DCC'd (wrongly) - ie charged the SGD amount at a much inferior FX rate, even when I had selected to pay in the local ccy amount.
Could also be for SGD transactions charged processed outside Singapore - though afaik (& this was a while back), that was an issue with Mastercard, not Visa.