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Re: [72attendees] Credit card charges at CityWest

Dale Worley <dworley@pingtel.com> Fri, 08 August 2008 15:13 UTC

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From: Dale Worley <dworley@pingtel.com>
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Date: Fri, 08 Aug 2008 11:13:39 -0400
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Subject: Re: [72attendees] Credit card charges at CityWest
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On Thu, 2008-08-07 at 22:31 +0100, Elwyn Davies wrote:
> This is now becoming a standard practice 'scam' that makes extra money
> for the merchant (or ATM operator when applied to getting foreign
> currency from an ATM using a credit card) .  You will more than likely
> end up both paying the credit card foreign transaction charge and
> getting an uncompetitve exchange rate. The conversion rate used is
> whatever the merchant thinks they can get away with.

But don't forget that there is also the battle between the bank that
services the merchant and the bank that services your card.  They both
want the profits from the currency conversion.  DCC is the means by
which the merchant's bank takes that piece of business away from the
card's bank.

Dale


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