Stop Being a Victim of Dynamic Currency Conversion

Went to town to buy some home goods.  The receipt is handed to my wife for signature and I can see that it is in US Dollars.  I knew we were going to be in this store for a while!  I refuse to be a victim of dynamic currency conversion.

This is the first thing you see when you were ripped-off charged the DCC rates — BELOW the charge in the local currency will be the amount in your issuing card currency.  It also shows the very poor rate you have been charged.

Getting ripped off with dynamic currency conversion

We refused to sign.  The cashier kept arguing “We charge you in Thai Baht.  Bank show you how much in USD for your convenience!”  We knew of course this was false and we continued to tell her to void the transaction and run it correctly “SAME AS THAI BANK CARD”.

A manager was required and that took another 10 minutes when they explained to the manager about the problem.  Finally, he either understands what we are saying — or just gives up and does it our way.

Here is my bank statement with the charge with DCC first; and the corrected charge after.

charged me dcc pay in my currency as a convenience!

no more dcc

$2.94USD savings by refusing to accept DCC.

This was on the bottom of the receipt.  Notice the misleading terms.

“I accept that the selected transaction currency is THB … and … I had a choice to pay in THB”.  This is completely wrong.  It should have read “I accept that the selected transaction currency is USD … and … I had a choice to pay in THB”.  Can’t even get the disclaimer right.

Notice also the “Mark-up on ref rate: 2.5% no additional fee or charges”.

misleading dcc statement

On the new receipt, it is worded correctly.  “I have chosen NOT to pay in USD and settle my payment in THB”.

pay in usd

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