I tell people everytime I can: “Just say NO to Dynamic Currency Conversion”. It is never a good deal, and you will never obtain prime conversion rates and will never come close to the rate on the street money exchange booths. It is a ripoff!
Today I booked a seat on the Bell Bus to Suvarnabhumi Airport in Bangkok. Buses and airlines are really bad about trying to screw you with their DCC (“pay in your currency”) services.
In the below capture, you will see that my bus fare was 230-baht. Bell Bus “kindly” offered to charge me $7.48 USD.
Of course I declined their kind offer and told them to charge me in Baht. When it appeared on my credit card statement, the total charge was $7.16 (a savings of $.32 or 4.5%!).
The rate I received on the Bell Bus transaction was 32.12 baht/USD.
Here is the street rate at one of the better street money exchange booths on Beach Road.
Their best rate for the day was 32.06.
Yahoo’s best prime rate was 32.14. I received .02 under PRIME CONVERSION RATES!