[Idyllchat] Credit Card Charging Method

[Russ Crum]

Last fall in Italy we ran into this issue where the charge was in USD  
instead of Euros. The shop keeper assured me the charge was being  
done in Euros. However, when I got my statement, the transaction had  
been processed in USD and the exchange rate was not as favorable as I  
had that same day from an ATM. In addition, of course, my MC tacks on  
their greedy 3%!

I think I have seen this same issue commented on previously where a  
charge transaction done in USD instead of local currency had an  
unfavorable exchange rate.

Russ Crum
rrcrum at sbcglobal.net

On Jul 5, 2007, at 21:53, Joan Herriges wrote:

> Some of you may have experienced this before, but for the first  
> time we observed a new “machine” in various CH shopping locations,  
> located at the cash register as you use your charge card.  The  
> first was in Luzern.  When you charge (MC, Visa, etc.) the machine  
> shows the total in both US$ and CHF.  It is your choice in which  
> currency to pay.  However, in our case (twice), each shopkeeper  
> said the best rate would be in US$.
>
> We decided to experiment.  The first charge we selected US$.  The  
> second charge we selected CHF.  Final accounting shows we paid 3  
> cents more per dollar by selecting US$.  This is the first time we  
> have seen this system in CH (or elsewhere in Europe).  Obviously  
> someone benefits—in our case certainly not the customer (choosing  
> home currency),
>
> Thereafter we reverted to our established method--cash only, using  
> ATM’s.
>
> One other observation.  The 2nd experimental charge was at the  
> Zurich airport at the Duty Free Shop (inside the security zone) for  
> cosmetics.  On a $219. charge (in CHF), I saved $50.00. Not as much  
> as the old days, but nice.  Mind you, the cosmetics do little but  
> make me feel good!
>
> Perhaps others have experienced this new wrinkle (no pun  
> intended)?  Joan.
>
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