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Dynamic Currency Conversion (DCC) [2014-2016]

Old Jan 18, 2014, 11:10 pm
FlyerTalk Forums Expert How-Tos and Guides
Last edit by: emilio911
What is it?

Dynamic Currency Conversion (DCC) is a "service" some merchants and ATM operators offer that will charge a cardholder in the native currency of the card rather than the local currency. A more complete definition and examples are available via this Wikipedia article on DCC. While sold as a convenience to cardholders traveling outside of their home country, it is a pure profit play by the merchants. You may end up paying a fee of up to 8% over the purchase price for accepting DCC. Always decline DCC and asked to be billed in the local currency!



Where will I see it?

You can be hit with DCC anywhere there is a difference between your debit or credit card's denominated currency and the currency of the location where you're trying to use the card. The most common example will be at a merchant overseas, but now some ATMs are offering the service too. While many US cardholders complain about getting tricked into accepting DCC overseas, some merchants in the US have started to use DCC as well.

What is the issue?

Unless you're the merchant or ATM operator, there isn't much benefit to using DCC. Some customers say they prefer knowing exactly how much they'll be charged in their home currency or may not know the exchange rate of the place where they are visiting. For example, if you are in Prague for two days and you don't know how much the Czech Koruna is worth relative to the US Dollar, you might feel more comfortable knowing that you're buying an item for $205.00 versus 4000 CZK. However, the real exchange rate as of January 18, 2014 would place 4000 CZK at $197.18. You just paid an extra $7.82 for the "convenience" of knowing how much you'd be charged!

DCC often charges about a 4% premium over the true exchange rate. The problems don't stop there since many US banks still charge a 3% foreign transaction fee (FTF) for purchases made outside of the US. Not only would you get hit with the $205.00 charge, you could also find yourself facing a total charge of $211.15 if your card has a 3% FTF.

This is a pure money grab from the merchants, and it's billed as an easy way to squeeze additional revenue out of the transaction. Numerous [1, 2] articles have talked about DCC duping many consumers. Discover even has a warning about being tricked into DCC when using a card abroad.

For example, this FlyerTalk member reported that Avis charged his Saudi credit card in Saudi riyals instead of USD for a car rental in Florida without his consent. This has also been a trend for hotels, particularly large chains as indicated here and here.

DCC is simply not worth it for the consumer. Unless you like paying a convenience fee of up to 5% of the total transaction just to know how much you will be billed, you should always decline DCC and ask to be billed in local currency when handing over your card.

Furthermore, it is in your interest to obtain a card that has a 0% FTF. FlyerTalk member kebosabi maintains a fairly comprehensive spreadsheet of EMV-enabled cards ideal for overseas travel, many of which offer a low or 0% FTF as a feature. There is also a wiki at FlyerGuide of various FTF of debit and credit cards.

What can I do to avoid DCC?

American Express currently does not support DCC on its network, so you are safe from DCC if using an American Express card. However, Visa and MasterCard card networks can support DCC, so be vigilant when purchasing abroad with a Visa or MasterCard branded card. There have been reports of being charged DCC with a Discover card in China [citation needed], but primarily the issue is happening with Visa and MasterCard cards.

Before handing your card to the merchant, always specify clearly that you want to be charged in the local currency and that you do not want DCC. For some transactions, you retain control of your card as you dip it into a chip reader and can view on a screen to select which currency you want to use for the transaction. Always select the local currencyto get the best exchange rate. Do not select the card's native currency!

Similarly, for ATM withdrawals, make sure you decline any kind of conversions. Some good examples of what to look for when using an ATM overseas are here and here. You're probably coming off of a long flight and fatigued, but educating yourself beforehand can save you from getting ripped off. The user interfaces on almost all of these ATMs are set up to encourage you to take the bait, and you have to be extremely vigilant not to fall for it.

If you are doing a PIN-based transaction, you should have the opportunity to review the total amount and denomination of the transaction before entering your PIN. If you are doing a signature transaction and the merchant has processed your transaction with DCC, cross out the amount and write "DCC refused" on the receipt. Do not sign the receipt, and demand that the merchant reverse the transaction and run it in the local currency. If no verification is required due to a small purchase amount, ask the merchant to reverse the charge and repeat the transaction using local currency. If all else fails, file a dispute with your card issuer when you return home. Even if it's immaterial, the banks will get the message like they did with EMV.

Some merchants will claim that their systems have to bill you in your native currency. This is a complete lie. But just like a mag stripe only card, this is battle where you have to be prepared. Don't settle for merchants claiming that "it has to be done this way" or "pay cash if you don't want this". Be prepared to walk away, and, if you must complete the transaction, write "DCC refused & merchant didn't give a choice" on the receipt and cross out the amount. Let the merchant know that you will be filing a dispute with your bank.

Disabling DCC

Disabling DCC on ANZ terminals in Australia

ANZ markets DCC as Customer Preferred Currency (CPC). Terminal operators can contact ANZ Merchant Services at 1800 039 025 to have this feature disabled. Currently, your Visa or MasterCard will be subjected to DCC if denominated in: CAD, CHF, DKK, EUR, GBP, HKD, JPY, MYR, NOK, NZD, SEK, SGD, THB, USD, or ZAR. All DCC transactions on ANZ will cause a 2.5% markup. Steps to avoid DCC:
  1. Insert, swipe, or tap your payment card
  2. Have the cashier select credit (CR)
  3. The terminal will display CREDIT ACCOUNT
  4. If applicable, enter your PIN
  5. The terminal will display PROCESSING \ PLEASE WAIT
  6. The terminal will display EXCH <exchange rate> \ <currency> <amount> \ ACCEPT RATE? \ ENTER=YES CLR=NO
  7. Instruct the cashier to press the yellow CLEAR (CLR) button (If entering a PIN, you can retain the terminal to perform this step yourself. If entering a signature, you can ask for the terminal to control this process, not indicating that it's a chip-and-signature card.)
  8. The transaction should now process without DCC

If you see a signature slip with DCC verbiage and a checkbox indicating a currency selection, kindly ask the merchant to void the transaction. If it's a PIN-based transaction, you have an additional opportunity to cancel the transaction because it will ask for your PIN a second time. For instance, if you see "EUR 17.29 KEY PIN" refuse to enter your PIN and start again.

Disabling DCC in China

There are many reports of forced DCC in China, and there is a great thread [closed to new posts] on DCC in China on the the China Destinations forum.

Disabling DCC on Bankcomm terminals in Beijing http://www.hongkongcard.com/forum/fo...p?id=12272&p=2 #19

jair101's DCC instructions of March 2011 http://www.etveg.com/misc/DCC_China.pdf

Disabling DCC in Eurozone and UK

DCC offered in tourist traps (Harrods Knightsbridge/Galleries Lafayette Montparnesse/El Cortes Ingles Grand Via Madrid)

Unlike the rest of the world, Visa Europe does not require merchants to collect a ticked box on the slip (presumably because merchants there don't keep signed slips under Chip-and-PIN)
El Cortes Ingles collects a signature electronically and the DCC selection is made on the signature pad - the choice is respected.
Harrods and GL rely on cashier input in the POS for the currency choice - the cashier may forget to ask. The POS do not offer voiding (only refunds), but since you're given a slip to sign the best thing to do is to deface it before signing and submit chargeback request to issuer bank on return home.

There may be smaller merchants who also collect DCC but I seemed to have pre-empted most of them by saying "charge Euros (Pounds) please"

In Spain all merchants by law are required to provide you with a complaint form called an hoja de reclamaciones if requested. The form has two carbon copies. The customer retains one copy as a record of the complaint. The merchant maintains another copy, and the third is sent to the local consumer protection bureau. Merchants are also required to post a sign conspicuously informing the customer of the right to complain (usually in Spanish and English). Do not accept the lie that they don't have any forms. This is illegal, and you are able to call the police if the merchant refuses to provide you with this official form. It's interesting to see merchants start to squirm when you know the rules, and most merchants will start to be accommodating after you mention it. (Please still fill out the form even if the merchant cooperates after mentioning it because these are likely the merchants who won't otherwise change their behavior.)

Disabling DCC in Hong Kong and Macau

Hong Kong and Macau can get as non-compliant as China, possibly because many acquirers have cross-border operations and know they can get away with non-compliant firmware and procedures.

In practice, if you are given a DCC slip, and the cashier has not taken a choice before giving you your copy, the slip will be processed in your home currency - be prepared to dispute.

Unable to disable Global Payments DCC in Hong Kong instance #1, instance #2

Unable to disable DBS DCC in Fortress Electronics HK

Unable to disable BoC DCC in Free Duty HK

Disabling DCC in Japan and Korea

Japan's just starting out http://www.flyertalk.com/forum/japan...ing-japan.html and http://www.hongkongcard.com/forum/fo...p?id=3939&p=17 #168 but there are no reports I know of where cardholders are compelled to use DCC against their will.

Korea is also not much affected by DCC but where offered, trying to opt out is harder than Japan due to the language barrier (both verbal and written)
http://www.hongkongcard.com/forum/fo...hp?id=4303&p=3 #23
http://www.hongkongcard.com/forum/fo...p?id=12272&p=2 #11

Disabling DCC in the Maldives

Disabling DCC on Global Payment terminals in the Maldives

Disabling DCC in Thailand and Taiwan

DCC present but generally not an issue. Cashier will generate quote slip is usually generated and pass to cardholder. When cardholder refuses, a verbage-free slip denominated in THB/TWD will be produced.

Certain Taiwan hotels may take deposits in cardholder currency. But these are only pre-authorisations and can be voided in full for TWD-only final checkout payments.

Disabling DCC on Websites

Airbnb - (Since the "loophole" seem not to work anymore, please report if you chargeback the DCC. )
Hotwire - You need to select your preferred currency before making a search.
PayPal - The instructions to stop the DCC on a recurring charge are here.

I got duped by DCC already before I found this thread. Is there anything I can do?

If you've been hit with DCC and the merchant did not follow the Visa/MC rules, you should file a dispute with your card issuer. Even if the transaction is a small amount, it's worth it to dispute the charge on principle. Do not let merchants get away with this scam uncontested!

If you were not clearly given a choice of currencies and did not specifically communicate a preference to be billed in your card's native currency - if you did not accept DCC - then you have recourse when filing a dispute with your card issuer. The Visa Product and Service Rules clearly state (p 339):
  • Merchants that offer DCC must be compliant with the regulations
  • Inform the cardholder that DCC is optional
  • Not impose any additional requirements to use local currency
  • Not use any language or procedures that may cause the cardholder to choose DCC by default
  • Not convert a transaction in the local currency to the card's billing currency after the transaction has completed
  • Ensure that the cardholder expressly agrees to DCC

You can even use terminology from Visa Product and Service Rules when filing the dispute, giving Reason Code 76: Incorrect Currency or Transaction Code. Reason Code 76 is used when the transaction was processed with an incorrect transaction code, or an incorrect currency code, or one of the following:
  • Merchant did not deposit a transaction receipt in the country where the transaction occurred
  • Cardholder was not advised that Dynamic Currency Conversion (DCC) would occur
  • Cardholder was refused the choice of paying in the merchants local currency
  • Merchant processed a credit refund and did not process a reversal or adjustment within 30 calendar days for a transaction receipt processed in error

MasterCard's rules also clearly state that the POI Currency Conversion must be decided by both the merchant and customer. When filing a dispute with a MasterCard, list chargeback Reason Code 4846 from the MasterCard Chargeback Guide, which covers POI currency conversion disputes in the following circumstances:
  • The cardholder states that he or she was not given the opportunity to choose the desired currency in which the transactions was completed or did not agree to the currency of the transaction, or
  • POI currency conversion took place into a currency that is not the cardholder's billing currency, or
  • POI currency conversion took place when the goods or services were priced in the cardholder's billing currency, or
  • POI currency conversion took place when cash was disbursed in the cardholdeer's billing currency.

You do have a choice of currencies. Exercise that choice!

Do not get taken by surprise when faced with DCC, and know your options. As Visa/MC purport, you do have a choice of currencies, but you need to make that choice heard! Don't be complacent in this sneaky tactic by some merchants to pad revenues.

Before going to a different country, get educated. Understand the exchange rate relative to your native currency. Know how to recognize when the merchant is trying to force DCC on the transaction, and pull out all of the stops to make sure it doesn't happen to you.

If you have a chip-and-PIN credit card, it's easier to control the transaction to try to prevent DCC. With chip-and-signature, if you get an uncooperative merchant, deface the merchant's copy of the receipt. Write LOCAL OPTION NOT OFFERED, cross out the DCC currency amount, and sign the receipt.

This will give additional evidence when filing a dispute to get the DCC charges refunded. When filing the dispute, you can use the Visa Exchange Rate Calculator or MasterCard's Currency Conversion Tool to determine the Visa or MasterCard exchange rate on the date the transaction posted to your credit card. Compare this to the DCC value to figure out the amount by which the merchant overcharged you. Don't forget to add in any Foreign Transaction Fee if your card has one. (If it does, you should really consider finding a card for use overseas without a FTF. )

Example Images (click for a larger image)

Hotel receipts in China, the Netherlands, and Dubai respectively:



Purchase receipts in China and Korea:




Cancelled translation in Hong Kong:



Novotel in Shenzen:

Print Wikipost

Dynamic Currency Conversion (DCC) [2014-2016]

Old Apr 16, 2014, 12:40 am
  #256  
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Originally Posted by cbn42
The FTF lawsuit was about disclosure, not about providing options. Credit card companies aren't required to provide you with the option of having an FTF or not having an FTF, they are simply required to inform you of the cost. Similarly, if there were any DCC lawsuit, it would likely only be possible if DCC were not disclosed properly. As long as the receipt gives the amount charged, I don't see any basis for a lawsuit. Of course, IANAL.
The bigger problem with DCC as compared to CCF with regard to a possible class action is that in the case of DCC, there are thousands of infringing parties (as opposed to 3 or 4 in the case of CCF). Furthermore, I imagine the companies like Bank of China would simply ignore any judgments against them.
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Old Apr 16, 2014, 9:38 am
  #257  
 
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I just had a prepaid charge by InterContinental Hyde Park on my Chase IHG card, being recently converted from Visa to MC. Just called Chase, confirmed it was a GBP transaction.

The transaction date is Apr 9, the posting date is Apr 11. Does someone know which date's conversion rate will Mastercard use on this one? Since my card is a USD card, the transaction happened in UK, which date will it use, US date or UK date? 8 hours can make it jump into another day.
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Old Apr 16, 2014, 10:30 am
  #258  
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Originally Posted by zyxlsy
I just had a prepaid charge by InterContinental Hyde Park on my Chase IHG card, being recently converted from Visa to MC. Just called Chase, confirmed it was a GBP transaction.

The transaction date is Apr 9, the posting date is Apr 11. Does someone know which date's conversion rate will Mastercard use on this one? Since my card is a USD card, the transaction happened in UK, which date will it use, US date or UK date? 8 hours can make it jump into another day.
9a EDT
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Old Apr 16, 2014, 9:02 pm
  #259  
 
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Originally Posted by moondog
9a EDT
So it will use the conversion rate at the most recent 9 am EDT, right? Is it because I use a US card?

Also, does the transaction date matter or posting date matter when quoting the rate?
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Old Apr 16, 2014, 9:30 pm
  #260  
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From my experience, it's not consistent even during a posting day.

I ran two transactions on two different cards of identical amount within seconds of other with same merchant <-- same rate

I then took one of the cards for lunch a little later <-- slightly different rate, even though same posting date

So I think the rates posted in https://www.mastercard.com/global/cu...ion/index.html and http://www.visaeurope.com/en/cardhol...nge_rates.aspx
are indicative not conclusive. You can't get the exact rate stipulated on those pages, but from my experience and statement analysis, you won't go far from them either (you'll be within 0.10% of them, worse if your transaction is larger in my experience).

We in HK also kept a running thread of what our banks charged us for foreign currency, and the spread over the HK Association of Banks' rate that day http://www.hongkongcard.com/forum/fo...ow.php?id=3939
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Old Apr 17, 2014, 12:24 am
  #261  
 
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Originally Posted by percysmith
From my experience, it's not consistent even during a posting day.

I ran two transactions on two different cards of identical amount within seconds of other with same merchant <-- same rate

I then took one of the cards for lunch a little later <-- slightly different rate, even though same posting date

So I think the rates posted in https://www.mastercard.com/global/cu...ion/index.html and http://www.visaeurope.com/en/cardhol...nge_rates.aspx
are indicative not conclusive. You can't get the exact rate stipulated on those pages, but from my experience and statement analysis, you won't go far from them either (you'll be within 0.10% of them, worse if your transaction is larger in my experience).

We in HK also kept a running thread of what our banks charged us for foreign currency, and the spread over the HK Association of Banks' rate that day http://www.hongkongcard.com/forum/fo...ow.php?id=3939
I totally agree with you that it fluctuates a lot.

I wasn't expecting the GBP to USD rate to change this big during two days.

From MC:

4/9 1.67640096829
4/11 1.67189971277

From Visa:

4/9 1.674200
4/11 1.682000

4/9 is the transaction date, 4/11 is the posting date.

Mine was 1916 GBP to 3223 USD, so I assume it is a Visa transaction using the rate of 4/11, the posting date, not the transaction date, which is quite confusing. Why it doesn't use the rate of the transaction date, since the transaction happens on that date?

Also interesting, even though my IHG card has become MC, I still used the Visa card numbers (which is said to be invalid in a month) for this transaction. It's like two numbers are linking to the same account. Looks like when I used the Visa number, I got the rate of Visa. If I was using the MC number, I don't know, maybe I could save a few bucks, as the MC rate on 4/11 is cheaper?
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Old Apr 17, 2014, 7:06 am
  #262  
 
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Originally Posted by zyxlsy
I totally agree with you that it fluctuates a lot.

I wasn't expecting the GBP to USD rate to change this big during two days.

From MC:

4/9 1.67640096829
4/11 1.67189971277

From Visa:

4/9 1.674200
4/11 1.682000

4/9 is the transaction date, 4/11 is the posting date.

Mine was 1916 GBP to 3223 USD, so I assume it is a Visa transaction using the rate of 4/11, the posting date, not the transaction date, which is quite confusing. Why it doesn't use the rate of the transaction date, since the transaction happens on that date?

Also interesting, even though my IHG card has become MC, I still used the Visa card numbers (which is said to be invalid in a month) for this transaction. It's like two numbers are linking to the same account. Looks like when I used the Visa number, I got the rate of Visa. If I was using the MC number, I don't know, maybe I could save a few bucks, as the MC rate on 4/11 is cheaper?
I checked out xe.com and those rates are higher than what they list as the "official" rate. Something seems fishy with those rates. Were those the rates that appeared on your credit card statement (US banks are required to show the rate being applied on each individual transaction).

According to xe.con, on 09 April 2014 the GBP/USD rate was 1.6750359320

On 11 April 2014, the rate was 1.6735449485

I don't know where visa is getting its information from.
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Old Apr 17, 2014, 7:43 am
  #263  
 
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Originally Posted by JEFFJAGUAR
I checked out xe.com and those rates are higher than what they list as the "official" rate. Something seems fishy with those rates. Were those the rates that appeared on your credit card statement (US banks are required to show the rate being applied on each individual transaction).

According to xe.con, on 09 April 2014 the GBP/USD rate was 1.6750359320

On 11 April 2014, the rate was 1.6735449485

I don't know where visa is getting its information from.
I've done xe.com before. Seems like xe.com shows you a real "medium" price that is unrealistic when you convert one currency to another. Anywhere you buy another currency, you will lose something.

To my experience, the rates on Visa is so much better than banks. For example, in Feb I did some ATMs in Seoul just to find out how exchange rates work. I checked Visa, 10000 equals 58.16 rmb. Then I used my UnionPay debit card without foreign transaction fee, withdraw 10000 won, spent 58.58 rmb (so the UnionPay rate is 1% higher than Visa rate). The xe.com rate (Google rate is almost the same?) is 58.10. That's why I've been quite happy with the Visa rates.

If you go to a bank in China to get 10000 won, it would cost almost 59 rmb.

My questions lies why Visa used the posting date's rate, not the transaction date's rate. I figure using the transactions date's rate would be more justifiable, even though rates can always go both ways.

The statement hasn't been out, and Chase.com is not as clear as Discover.com where it give you all the details of a transaction in the "recent transaction" page, whereas with Chase you need to wait for the statement to see all of these. 15 more days to go.
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Old Apr 17, 2014, 9:43 am
  #264  
 
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Originally Posted by zyxlsy
...

If you go to a bank in China to get 10000 won, it would cost almost 59 rmb.

My questions lies why Visa used the posting date's rate, not the transaction date's rate. I figure using the transactions date's rate would be more justifiable, even though rates can always go both ways.

The statement hasn't been out, and Chase.com is not as clear as Discover.com where it give you all the details of a transaction in the "recent transaction" page, whereas with Chase you need to wait for the statement to see all of these. 15 more days to go.
The date the FX rate applies is the "settlement date", which is the date on which the merchants processor is paid by the issuing bank processor. Many people, including here, offer precise dates on which that takes place, but in fact there is no precise date because time lags can happen between merchant, merchant processor, network transmission, issuing bank processor (if applicable) and issuing bank. Usually all that happens very quickly, often in a single day or two, but not always and not consistently. Time zones, cutoff times, holidays and other factors intervene to reduce consistency.

Even so, as you observe, credit card FX rates, assuming no DCC and no FTF, are virtually always far better than a consumer can get elsewhere. Ditto for debit cards. Between Visa, MC, Discover and American Express different procedures apply. Discover does almost all theirs through a large bank, Royal Bank of Canada, IIRC, while American Express does their own in many countries and use local partners in a few of them. Visa and MC have long standing procedures that generally are quite consumer-favorable. Still everyone makes money in this process. There are exceptions: for example, Argentina has horrible rates because the central Bank sets an artificially low rate for all official transactions, thus almost all regular travellers use cash that they buy through an unofficial market. Those exceptions are not common these days.
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Old Apr 17, 2014, 12:36 pm
  #265  
 
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I got DCC'd again 2 days ago in Glasgow Scotland. I took a tour of Loch Ness and the Scottish Highlands that was supposed to be for 40 GBP ($67.19 USD). They took my credit card over the phone (the driver called his tour office with my CC#) to pay for the tour & I discovered today they charged me $70.42 USD (41.92 GBP), an overcharge of nearly 2 GBP or $3.23. I called CapitalOne and they saw it was a USD/DCC transaction & gave me a courtesy refund of the $3.23 difference, however the CSR decided it would be best to still file a dispute as they should not have charged me USD via DCC without asking my permission. I'm guessing the tour office worker just automatically accepted the DCC without much thought or simply out of habit, resulting in this overcharge. It's very frustrating that these types of shady transactions are allowed to happen & disputing them can be such a hassle.
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Old Apr 17, 2014, 12:42 pm
  #266  
 
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Originally Posted by Newark7
I got DCC'd again 2 days ago in Glasgow Scotland. I took a tour of Loch Ness and the Scottish Highlands that was supposed to be for 40 GBP ($67.19 USD). They took my credit card over the phone (the driver called his tour office with my CC#) to pay for the tour & I discovered today they charged me $70.42 USD (41.92 GBP), an overcharge of nearly 2 GBP or $3.23. I called CapitalOne and they saw it was a USD/DCC transaction & gave me a courtesy refund of the $3.23 difference, however the CSR decided it would be best to still file a dispute as they should not have charged me USD via DCC without asking my permission. I'm guessing the tour office worker just automatically accepted the DCC without much thought or simply out of habit, resulting in this overcharge. It's very frustrating that these types of shady transactions are allowed to happen & disputing them can be such a hassle.
I wonder how common a practice this is i.e. on phone or on line orders to perform a dcc transaction without asking. And I would wager that most customers don't know the difference or are even grateful that they are charged in their own currency. Do remember the people here on this board are somewhat more sophisticated and in tune with what is going on in the travel industry.
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Old Apr 17, 2014, 3:14 pm
  #267  
 
Join Date: May 2007
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Originally Posted by JEFFJAGUAR
I wonder how common a practice this is i.e. on phone or on line orders to perform a dcc transaction without asking. And I would wager that most customers don't know the difference or are even grateful that they are charged in their own currency. Do remember the people here on this board are somewhat more sophisticated and in tune with what is going on in the travel industry.
I'm guessing that about 90% of tourists have no idea they are being scammed for an additional 3-4% by DCC and probably think it's great that they get to pay in their home currency (hence the reason the "forced" DCC practice continues with little pushback from Visa/MC, since few complain).
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Old Apr 17, 2014, 3:31 pm
  #268  
 
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Originally Posted by JEFFJAGUAR
I wonder how common a practice this is i.e. on phone or on line orders to perform a dcc transaction without asking.
For Japan, buying stuff online, over the phone, or even face-to-face merchant transactions do not do DCCs...at least for now.

One exception that I've come across DCC is when trying to buy something from Amazon Japan. Close to the end of the check out process, when it recognizes that you're using a non-Japanese credit card, it defaults to a view of the checkout price in your home countries' currency, with a tiny mark stating that you'd like to revert back to JPY. That's the DCC on Amazon Japan.

I'd show a screenshot of it, but I don't plan on buying anything from Amazon Japan at this time.
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Old Apr 17, 2014, 4:50 pm
  #269  
 
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Originally Posted by Newark7
I'm guessing that about 90% of tourists have no idea they are being scammed for an additional 3-4% by DCC and probably think it's great that they get to pay in their home currency (hence the reason the "forced" DCC practice continues with little pushback from Visa/MC, since few complain).
By my calculation, you were scammed for about 4.8% = (70.42-67.19)/67.19, assuming your currency conversion from GBP 40 to $67.19 was correct for that day. That seems typical of the many reports here (and, by the way, higher than even the AMEX 2.7% FTF).

I don't recall if I was given a choice the one time I was DCCed at a hotel a few years ago, but I probably thought, "Oh, that's nice. They converted to dollars for me." Ignorance is bliss...
othermike27 is offline  
Old Apr 17, 2014, 6:56 pm
  #270  
 
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Originally Posted by othermike27
By my calculation, you were scammed for about 4.8% = (70.42-67.19)/67.19, assuming your currency conversion from GBP 40 to $67.19 was correct for that day. That seems typical of the many reports here (and, by the way, higher than even the AMEX 2.7% FTF).

I don't recall if I was given a choice the one time I was DCCed at a hotel a few years ago, but I probably thought, "Oh, that's nice. They converted to dollars for me." Ignorance is bliss...
I'm just glad my Lloyds Amex has no foreign transaction fees because DCC is starting to become a pain in the US, especially at restaurants where one or two even apply DCC after adding the tip.
reclusive46 is offline  

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