Dynamic Currency Conversion

Back to Forum
Viewing 7 posts - 16 through 22 (of 22 total)

  • dutchyankee
    Participant

    @SwissExPat,

    As there are only a few Conrad`s in Europe (Ireland, Portugal, and Turkey), may I ask if it was a Euro based Conrad or was it the Conrad Istanbul where perhaps the Turkish Lira exchange rate could have played a part? If it was one of the other two, then for sure you have a strong claim.


    Bucksnet
    Participant

    Regardless of the country the hotel is in, or the country where you live, if a price is quoted in a specific currency then it should be charged to your card in the same currency.


    dutchyankee
    Participant

    Bucksnet, of course true, but i was just saying it may be part of the reason for the error, not excusing the error.


    SimonS1
    Participant

    Error? In 95% of cases it’s done deliberately. One of the best credit card scams of recent times.


    canucklad
    Participant

    It sounds not to dissimilar to the practice that banks have…they give you a choice when extracting money from ATM’s when you’re abroad….

    If you choose to have the money converted at point of removal it costs you a fortune…always ensure you say no…

    And SwissExPat….You should have been suspicious of the word dynamic….normally when corporations (especially money related) start using positive sounding words it normally means the exact opposite ! :: )


    LuganoPirate
    Participant

    A well know scam SwissExPat. Always pay in the local currency and always check the slip they give if pre-printed and if they say it’s too late then tell them to reverse it. They will protest but it can be done. Otherwise, and it’s a real nuisance, call the cc co. there and then to register a complaint. Usually at this point the hotel staff will intervene, reverse and then re-charge in local.


    SwissExPat
    Participant

    Just noticed I got ripped off again, but only for a small amount this time.

    I paid for an internet access at a hotel reception costing €7.50 which by the time it was converted to CHF and then back to € (the card’s actual denomination), it has become €8.00

    So that us a 6.66% uplift and my CS card states they charge 2.5% for foreign currency conversions which leaves the hotels’ dynamic curr conversion with a 4% margin……

    Nice business if you can get it!

Viewing 7 posts - 16 through 22 (of 22 total)
You must be logged in to reply to this topic.
The cover of the Business Traveller May 2024 edition
The cover of the Business Traveller May 2024 edition
Be up-to-date
Magazine Subscription
To see our latest subscription offers for Business Traveller editions worldwide, click on the Subscribe & Save link below
Polls