Tag Archives: Dynamic Currency Conversion

No Kidding! Why No DCC?

Recently, I renewed my membership with a professional body using my credit card. My credit card statement was shocking. The bank charged me around 7.4% over-and-above the forex rates for that same day. Knowing Visa charges 1% interchange service assessment fee for cross-border transactions; my bank had made around 6.4% of this payment. It’s their business to charge for the services they’re offering, but this was too much – anything above 3% is big! There was nothing, I could do – chargeback was not an option.

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