Flashback
Enthusiast
- Joined
- Oct 29, 2006
- Posts
- 12,568
When people use this card at overseas ATMs and are presented with the option to use that bank's exchange rate (usually something like 'Proceed with conversion'), do you select that or decline ('Proceed without conversion')?
I'm in a dispute with Citibank at the moment over two ATM withdrawals in India. On both transactions at the same ATM I declined the conversion. Citibank is telling me that results in DCC. The image shows part of what Citibank is telling me.
I always decline using the foreign bank's conversion because I always thought that meant you'd stung with a terrible rate, rather than Citibank's rate. I've never had a problem and have always gotten the better Citibank rate.
(A separate issue is the foreign bank didn't disclose a fee for the transaction, never mind the fact the transaction appears on my statement as "PART HYYAT" hotel.)
Proceed without conversion. You want your bank to do the conversion instead. Them doing is what's referred to as DCC and usually sits around 5%.
Don't get me started on Indian ATM's. I was short changed £20 worth of INR. I lodged a complaint with my bank, then visa including all the serial numbers on the INR that was issued, where/when, the ATM number, etc. and got zip, zilch, nada.