Home Finance Overseas Fleecing of Cards: Currency Conversion

Overseas Fleecing of Cards: Currency Conversion

by Monte R.

I always knew something was sketchy about being prompted to choose USD or Euros/pounds when doing a transaction using my credit card in Europe in recent years (I usually chose Euros/pounds but sometimes forgot).  Then I opened up the NY Times today and they had an entire article on the subject.

Merchants are artificially marking up the conversion by 8-10% to “process” your transaction – if you’re not paying attention, and choose dollars, you elect to pay more for no reason.  It’s just money down the drain for no reason.

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