FlyerTalk Forums - View Single Post - DCC: Dynamic Currency Conversion (2017-2025)
Old Dec 25, 2024 | 2:44 pm
  #1250  
seawolf
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Originally Posted by Majuki
I used a Euronet ATM at LIS on Wednesday evening (with the Thursday Visa rates). While I didn't want to give business to Euronet, I wanted to check the new trick they have about Cash & Balance. Honest Guide has a video on this in further detail, and I was able to opt out of the balance inquiry option after having watched this video:

https://www.youtube.com/watch?v=BTGXR03ZN68

The displayed DCC offer was displayed as 13.95% at 0.8004 EUR = 1 USD for $254.78. The pending transaction with my bank is $225.32, which matches Visa's rate for 8/15 and is effectively 13.07%. I saved $29.46 by declining DCC.


Honest Guide is not really portraying an accurate picture; downright biased. Not sure if they have a personal vendetta against Euronet or just presenting a bias view for YouTube clicks.

DCC is Visa/MC feature which merchant/ATMs accepting these cards can choose to offer as long as they obtain explicit permission during the transaction which Euronet is doing. Heck, Euronet is even presenting the markup % as well as fx rate which is not required by VISA. I have had ATMs present DCC without showing what the markup and fx rate is; only what the USD amount. Euronet is going above and beyond in disclosures. If one need to blame DCC, there is blame for VISA/MC for offering DCC to begin with.

Cash and Balance scam is not even a fee Euronet is charging; it is a fee the card issuer is charging for interacting with a 3rd party ATM. I just Cash and Balance and then cancel a transaction at Euronet recently against my Fidelity card and nothing was charged because my card issuer does not charge such a fee.

Finally Euronet charging a fee for ATM withdrawals is not really different than a US-bank operated ATM charging a fee if you are not taking money out from an account of the same bank. Euronet is providing a convenience similar to a Chase card member taking cash out at a Bank of America ATM. Depending on which country/location you are in, Euronet ATM is indeed offering a service here. Was in Florence recently and bank ATMs were not available outside of branch hours while Euronet ATMs were readily available. So if you needed to get cash on a Sunday evening, Euronet ATM is offering a genuine convenience option being around in numerous locations and being accessible.

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