Talk:Dynamic currency conversion

One sided article
This is a very one-sided article, obviously written by those who provide Dynamic Currency Conversion services. Nowhere does it mention that there are almost always fees attached to the service and that the exchange rate may be unfavorable.

If you google for Dynamic Currency Conversion, you will find more unbiased advice, as well as services that are trying to sign up merchants to offer Dynamic Currency Conversion, telling them how much money they'll rake in. That would be your money. 87.18.70.203 16:02, 14 July 2007 (UTC)bvlenci


 * I agree entirely. DCC is a lot more controversial from the POV of the consumer than this article insinuates.  In the UK, Banks recommend against accepting DCC when abroad and on a recent trip from the UK to Ireland, I was offered DCC that would have offered a worse rate and an addition 1% in charges.  The style of the article is not what I am used to on Wiki either, if I were more experienced on here I would try to clean it up but the best I can do is point out that it doesn't feel up to Wiki's usual standards.  Hope that helps even a little.160.83.42.131 (talk) 15:05, 30 December 2010 (UTC)

Advantages list
The article said:


 * Advantages to the Customer Include:
 * The visibility of charges made in foreign countries
 * The ability to enter expenses more easily (i.e. business travelers)
 * If a wholesale rate is used, the cardholder often benefits from a similar or identical foreign transaction fee
 * Customers can avoid extraneous fees applied by the card issuer for simply using the card overseas

Except the second one, I don't think these are true.

"Visibility of charges made in foreign countries": What does that mean? Without DCC, I have exactly the same visibility plus I know that I get a fair exchange rate. I don't know this for DCC.

"If a wholesale rate is used, the cardholder often benefits from a similar or identical foreign transaction fee": What benefit is this? None. It means that if the merchant does not want to charge excessive you get the same price as when you don't use it.

"Customers can avoid extraneous fees applied by the card issuer for simply using the card overseas": Simply not true in many cases. These overseas charges are typically charged anyway since they are not tied to the currency used, but to the location of the charge. However, some banks seem to waive these fees.

I will edit accordingly. --SmilingBoy (talk) 08:37, 2 July 2011 (UTC)

I have tried to edit the article to make it less biased and make it read less like an advertisement, by clarifying how the process works and what rights a consumer has. — Preceding unsigned comment added by Bud08 (talk • contribs) 05:09, 31 December 2011 (UTC)

In the UAE
Some first-hand experience from the UAE. Not sure about adding this to the article because I can't cite anyone but myself...

A significant proportion of merchants charge in AED without asking. The rest apply DCC and do not ask the customer about this. During my 16 days stay and around 20 credit card transactions, I have not been offered the choice even once.

The receipt states "I accept that I have been offered the choice of currencies for payment and this choice is final, I accept the conversion rate offered. I have chosen not to use MasterCard currency conversion process and I will have no recourse against MasterCard concerning the currency conversion or its disclosure".

During the entire transaction, the only thing that could remotely constitute your agreement to the above is entering the pin, but that, of course, happens before you see the statement you "agree" to or hear anything to that effect.

It's possible to ask upfront to be charged in AED, but many merchants will not know what you mean. A better strategy has been to look at the terminal screen and interfere when the question about the conversion appears. The merchants don't mind this, though they get surprised.

On one occasion the merchant's terminal did offer the choice, but refusing the conversion aborted the transaction. Or at least it looked that way; I was in a hurry and it's possible the merchant could have made it look that way. But on every occasion it did not appear like the merchant cared, in other words I didn't get a feeling that the merchant gets a cut.

In terms of numbers, the DCC exchange rate resulted in a 4.8% higher charge than the MasterCard conversion. Given that my card issuer does not charge any overseas or non-GBP fees, every DCC payment was basically 4.8% more expensive.

--Romanski (talk) 12:28, 14 February 2013 (UTC)

Wikimedia Donations
Attempting an internet donation, I noticed that it was using the Global Collect service. Perhaps this should be indicated for notability? I don't know if it varies with region and currency used... JamesEG (talk) 22:01, 12 July 2013 (UTC)