Originally Posted by
emilio911
Actually I came to this forum because I noticed a new worrying trend on transactions performed on my HSBC credit cards in Singapore.
I'm using eBay Singapore and pay a flat S$5 monthly fee (in local currency, on a local CC) to eBay Singapore. I've been billed like for years without any issue.
Now HSBC is adding a 1%
DCC FEE on each transaction claiming that it's an international transaction and that I should pay fees on it.
Same for Buyee/Tenso from Japan sending an invoice in USD to my Singapore USD CC: suddenly a brand new DCC FEE on
no FX conversion at all is being applied from nowhere.
I claimed these fees back to HSBC and they say that, from now on, any non-local entity billing in the local currency will get DCC FEE'd on top of the normal costs.
DC means conversion right? There's none here.
Are we moving back to a world where you can only use your country currency in your own country??
And of course not a single warning that the bank policy has been updated at no point in time.
Their statement:
The DCC fee is levied when you select to pay in Singapore Dollars when transacting with certain overseas merchants, website and/or mobile applications. This includes but is not limited to any credit card transactions performed locally in Singapore dollars with merchants, websites and/or mobile applications whose payments are processed overseas. DCC fee is a charge that is levied by the relevant credit card schemes (i.e. Visa or MasterCard) and the Bank simply bills the fee on behalf of the credit card schemes. You can check with the merchant or website operator before making your purchase to ascertain if payments are processed overseas and whether DCC fee will be charged. This fee is non-waivable.
Julien