Originally Posted by
generikz
I had waited for too long, I signed (even though it says "I was offered a choice of payment currencies and my choice is final") and told them I would fill a claim with Mastercard.
How does one go to fill a claim with MC ?
In the future, you can deface the receipt. Cross out the "I was offered a choice..." and write "Forced DCC" on the receipt before signing it.
You don't file a claim with MasterCard. Instead you ask the bank that issued your card to file a chargeback against the merchant and process the transaction in local currency. For MasterCard, it's a "Reason Code 4846 Chargeback". MasterCard is more permissive than Visa and, in theory, even seems to allow buyer's remorse for DCC selection.
You would begin the process by filing a dispute with your bank stating that you were not offered the option of paying in local currency and request a Reason Code 4846 chargeback to the merchant.
In other news, the Fortnum and Mason transaction posted as $118.00. It turns out I would have been worse off with DCC given the volatility of the recent USD/GBP exchange rate:
Original Amount: £86.95
DCC Offer: $123.90 (1.4249 $/£)
Posted Amount: $118.00 (1.357064 $/£ using the 6/28 Visa rate)
Amount saved by avoiding DCC: $5.90
Effective DCC Markup: 5.00% (-0.82% compared to the 6/26 Visa rate of 1.436624 $/£)