Issues involving foreign exchange conversion rates
Nov 1, 2010, 3:20 pm
#61
Join Date: Dec 2005
Programs: AA EXP, Marriott Amb Elite & LT Titanium, Hilton Diamond
Posts: 1,230
JW Marriott in Rio quotes your rate in local currency, then when you check out they will only accept US$.
They refused to honor their quoted local rate.
Spent sometime discussing this with MR customer service. Calculated the difference in exchange rates and MR gave me some points to compensate for the loss on the exchange rate.
They refused to honor their quoted local rate.
Spent sometime discussing this with MR customer service. Calculated the difference in exchange rates and MR gave me some points to compensate for the loss on the exchange rate.
Nov 1, 2010, 3:44 pm
#62
Join Date: Aug 2004
Location: DCA, EGE, IAD
Programs: MR LTT, BA Gold, AA LTP, UA Silver
Posts: 6,077
The rate for Rio JW is quoted in USD and they have a notation at the top of the Choose dates, rooms & rates page stating:
Please Note – All prices are quoted in USD. Charges are payable in the local currency at applicable official tourism exchange rate.
Now the question is do they play a shell game with currencies, converting the USD rate to BRL and then back to USD on your charge card? If they do, then that's crap.
Nov 1, 2010, 5:53 pm
#63
Join Date: Mar 2007
Location: SJC/SFO
Programs: WN A+ CP, UA 1MM/*A Gold, Mar LT Tit, IHG Plat, HH Dia
Posts: 6,285
When traveling overseas, primarily in China, I've found that the markup in the exchange rate Marriott offers is always 3%. Have others seen the same?
Nov 1, 2010, 8:32 pm
#64
Join Date: Feb 2004
Location: Boston, MA
Programs: AA EXP, UA Global Services , Marriott Platinum
Posts: 301
I recently was offered this option when checking out of the Marriott Sydney. Noticing that the machine was from Travelex, I had a quick look at the numbers. I forget the exact numbers, but my hotel bill was AUD$42xx and they offered $43xx in US. I knew the US dollar was a bit stronger that the Aussie dollar and was surprised that the US rate offered was about $150 more than the AUD total. I choose AUD and the amount on my credit card statement was $41xx. Even with the foreign transaction fee, I still saved about $100 by NOT choosing to be billed in US dollars at the hotel. It was definitely a very unfavourable rate and I was a little shocked that the Marriott staff presented it as a perk.
Nov 1, 2010, 10:41 pm
#65
A FlyerTalk Posting Legend
Join Date: May 2002
Location: YEG
Programs: HH Silver
Posts: 56,450
Sorry by American friends but billing isn't always limited to USD as I was asked upon a recent check out at Marriott Sky City at HKG if I'd prefer billing in CAD and accepted.
Nov 1, 2010, 11:47 pm
#66
Join Date: Feb 2001
Location: Wesseling, NRW, Germany
Programs: UA *S , MR LT Titanium, HH Diamond, Hertz PC
Posts: 3,940
This actually is a feature that credit-card processors have invented some time ago to move the payment for the currency conversion from the credit card companies to their company, and is the reason why FX fees now also apply sometimes if the amount is charged in your home currency - credit card companies were obviously not happy loosing this revenue.
That said, while I consider FX fees a rip-off already, these conversions never make any sense. I have noted down the offers in my home currency (Euro) on several occasions with a number of merchants and then paid in the transaction currency and compared the outcome - the charge was always converted to a lower amount by my CC-company (including their fees) with a margin of up to 5%. Not even once did I loose money had I used the offer to be charged in Euros by the merchant...
Greetings - Dirk
That said, while I consider FX fees a rip-off already, these conversions never make any sense. I have noted down the offers in my home currency (Euro) on several occasions with a number of merchants and then paid in the transaction currency and compared the outcome - the charge was always converted to a lower amount by my CC-company (including their fees) with a margin of up to 5%. Not even once did I loose money had I used the offer to be charged in Euros by the merchant...
Greetings - Dirk
Nov 2, 2010, 12:17 am
#67
Suspended
Join Date: Jul 2005
Location: Thailand
Programs: Marriott - P; HH - G; Hyatt - P; Avis - LT First
Posts: 5,023
- Renaissance Saigon rates quoted in US$ and charged in US$'s (no markup)
- Marriott Hua Hin rates quoted in Thai baht but property charges in US$'s if you give them US$ credit card (with a mark-up)
- Marriott Hua Hin rates quoted in Thai baht but property charges in US$'s if you give them US$ credit card (with a mark-up)
Obviously one can save quite a bit of money in foreign transaction fees when staying at international locations if the option of settling in USD is available.
Here's my limited personal experience: The Courtyard Marriott Xujiahui in Shanghai just went ahead and charged me in USD without me even asking. I had to request it at the Marriott City Walls in Beijing and they were more than happy to comply.
I was asked if I wanted to settle in USD at checkout at Marriott Regents Park in London. I wasn't given that option in any other European Marriott property though, including the Grosvenor Square in London. But then again I couldn't care less since I was traveling on business and my corporate card doesn't charge foreign transaction fees. So I didn't ask and just settled in local currency.
I just wonder if this option is available in all Marriott properties-I know this is probably a stretch. But knowing which locations have this option would certainly come in handy for personal travels.
So anyone else care to share their experience?
Here's my limited personal experience: The Courtyard Marriott Xujiahui in Shanghai just went ahead and charged me in USD without me even asking. I had to request it at the Marriott City Walls in Beijing and they were more than happy to comply.
I was asked if I wanted to settle in USD at checkout at Marriott Regents Park in London. I wasn't given that option in any other European Marriott property though, including the Grosvenor Square in London. But then again I couldn't care less since I was traveling on business and my corporate card doesn't charge foreign transaction fees. So I didn't ask and just settled in local currency.
I just wonder if this option is available in all Marriott properties-I know this is probably a stretch. But knowing which locations have this option would certainly come in handy for personal travels.
So anyone else care to share their experience?
Nov 2, 2010, 6:15 am
#68
Join Date: Oct 2009
Location: East Coast, US
Programs: Mileage Plus 1K; Marriott Plat; Hilton; SkyMiles
Posts: 102
Obviously one can save quite a bit of money in foreign transaction fees when staying at international locations if the option of settling in USD is available.
Here's my limited personal experience: The Courtyard Marriott Xujiahui in Shanghai just went ahead and charged me in USD without me even asking. I had to request it at the Marriott City Walls in Beijing and they were more than happy to comply.
I was asked if I wanted to settle in USD at checkout at Marriott Regents Park in London. I wasn't given that option in any other European Marriott property though, including the Grosvenor Square in London. But then again I couldn't care less since I was traveling on business and my corporate card doesn't charge foreign transaction fees. So I didn't ask and just settled in local currency.
I just wonder if this option is available in all Marriott properties-I know this is probably a stretch. But knowing which locations have this option would certainly come in handy for personal travels.
So anyone else care to share their experience?
Here's my limited personal experience: The Courtyard Marriott Xujiahui in Shanghai just went ahead and charged me in USD without me even asking. I had to request it at the Marriott City Walls in Beijing and they were more than happy to comply.
I was asked if I wanted to settle in USD at checkout at Marriott Regents Park in London. I wasn't given that option in any other European Marriott property though, including the Grosvenor Square in London. But then again I couldn't care less since I was traveling on business and my corporate card doesn't charge foreign transaction fees. So I didn't ask and just settled in local currency.
I just wonder if this option is available in all Marriott properties-I know this is probably a stretch. But knowing which locations have this option would certainly come in handy for personal travels.
So anyone else care to share their experience?
If the transaction fees still bother you, you can get a Captial One card with a 1.25% rebate that does not charge foreign transaction fees for credit purchases (but, it is rather expensive for getting cash advances).
Of course, if you are looking to collect points with your MR card, Capital One may not be an option for you.
Nov 2, 2010, 10:23 am
#69
Join Date: May 2009
Location: Shanghai
Programs: BAEC (Gold), PC (Plat), HH (Gold), MR (Gold)
Posts: 2,729
Be very careful when paying with a foreign card. I checked out in London recently and they didn't ask which currency to charge me in. When - later that day - I read the slip they had given me along with my regular folio (which I did read before leaving and it showed the bill in Sterling) it said words to the effect that I had agreed to be charged in USD instead of Sterling and that my decision was final and could not be reversed. I considered this inexcusable behavior on the part of the hotel and if I'd have been spending my own money (not my company's) then I would have kicked off considerably.
Nov 2, 2010, 8:00 pm
#70
Join Date: Dec 2005
Programs: AA EXP, Marriott Amb Elite & LT Titanium, Hilton Diamond
Posts: 1,230
Good thing to know, but in that case I am confused by what I found on marriott.com.
The rate for Rio JW is quoted in USD and they have a notation at the top of the Choose dates, rooms & rates page stating:
The rate for Rio JW is quoted in USD and they have a notation at the top of the Choose dates, rooms & rates page stating:
Please Note – All prices are quoted in USD. Charges are payable in the local currency at applicable official tourism exchange rate.
Now the question is do they play a shell game with currencies, converting the USD rate to BRL and then back to USD on your charge card? If they do, then that's crap.
Nov 3, 2010, 12:18 am
#71
Join Date: Jan 2010
Posts: 358
In some hotels in Switzerland we are given the choice beween been charged in Euros or in Swiss Francs. With a Euro card I suppose choice should be Euro, as there will be no commissions fees from the card issuer, but how to know if they (the hotel's bank) don't cheat on the rate ?
Nov 3, 2010, 12:51 am
#72
Join Date: Jul 2005
Location: MUC/HKT
Programs: UA1K;AAEXP;BAG
Posts: 595
Manila Marriott also does quote the room rate in USD and usually converts it into Pesos. You are however able to pay the rate in USD ca$h. That option is not given for all other charges though.
Nov 3, 2010, 6:45 am
#73
Join Date: Jan 2010
Location: Germany/Switzerland
Programs: M&M,UA MP Silver, MR LT Titanium, HH Gold
Posts: 202
Nov 5, 2010, 10:26 am
#74
Join Date: May 1998
Posts: 6,790
When we stayed there in late 2008, that (quote in dollars, charge in Reals) was what they did. Indeed, that is common in many countries where a soft currency is in use (although the USD seems to be getting squishier and squishier lately).
Are you sure they quoted to you in Reals and charged in dollars? If so, maybe this was just due to confusion by one of the staff.
Anyone else have this experience at the JW in Rio?
Are you sure they quoted to you in Reals and charged in dollars? If so, maybe this was just due to confusion by one of the staff.
Anyone else have this experience at the JW in Rio?
Nov 5, 2010, 1:40 pm
#75
Join Date: Jul 2007
Posts: 1,762
Be very careful when paying with a foreign card. I checked out in London recently and they didn't ask which currency to charge me in. When - later that day - I read the slip they had given me along with my regular folio (which I did read before leaving and it showed the bill in Sterling) it said words to the effect that I had agreed to be charged in USD instead of Sterling and that my decision was final and could not be reversed. I considered this inexcusable behavior on the part of the hotel and if I'd have been spending my own money (not my company's) then I would have kicked off considerably.