Originally Posted by
jpdx
I had a particularly egregious case of the DCC scam last week in Switzerland. Used a German card (billed in EUR) and was given the option of paying in CHF (local currency) or USD.
Now, I hate DCC with a passion, but most jurisdictions seem to have nothing against it. But how does the already flimsy rationale of "convenience of paying in your own currency" work in this case? Allow us to convert the local currency (CHF) to a third currency (USD) at a markup, and then your own bank can convert it to your billing currency (EUR)? How's this not illegal?
The merchant can only use DCC if the transaction currency is your local currency. As I understand it, an authorisation to use DCC is considered to be invalid if the wrong currency was used, so it should be easy to have DCC undone by disputing the charge.
Originally Posted by
mlin32
Perhaps this is a thing with US-issued cards only ? Because my European bank card (Mastercard) never prompts for DCC when paying or withdrawing cash in a foreign currency- I'm sure this would run afoul of EU consumer protection rules !
It depends on where you are. Nordea cash machines in Denmark ask me to pay in SEK instead of DKK.
Originally Posted by
trmbn65
That's crazy! I was just in Athens and saw 9.5%, which is the highest I had ever seen. And despite hitting to not accept the DCC markup, I still (somehow) got hit with it. There may have been another screen I didn't fully read. Frustrating to need to hit decline twice to not get hit with this awful fee!
Once, a Danish merchant asked for 250 SEK for a purchase, but when I declined DCC, my bank converted the DKK amount to just 200 SEK, so a neat 25% markup.