Currency conversion question

[Sprucegoose]

Just got a NAB GOLD VISA DEBIT - anything we need to watch out there guys???

cheers

SPRUCE

 

[ww2zombie]

The "mastercard currency conversion tool" is recommended.Is there an App for this so one can use it when you dont have access to a computer.Also,regarding the currency conversion apps,do they automatically adjust the rates off-line?

 

[Flashback]

The "mastercard currency conversion tool" is recommended.Is there an App for this so one can use it when you dont have access to a computer.Also,regarding the currency conversion apps,do they automatically adjust the rates off-line?

To adjust rates, you would need some form of internet connection.

I have a Frommer's Travel app (free) on my iPhone that has a currency conversion component to it. I've found it much nicer to use than the XE.com one I downloaded also.

 

[ww2zombie]

To adjust rates, you would need some form of internet connection.

I have a Frommer's Travel app (free) on my iPhone that has a currency conversion component to it. I've found it much nicer to use than the XE.com one I downloaded also.

Flashware,thanks 4 your reply.The thread so far addresses card issues when U book online.What can U do to protect yourself from these conversion scams when U R checking out?Also,even if you request to pay in local currency,what is to stop the hotel from converting the inflated figure in your currency to an inflated price in the local currency?

 

[Flashback]

Flashware,thanks 4 your reply.The thread so far addresses card issues when U book online.What can U do to protect yourself from these conversion scams when U R checking out?Also,even if you request to pay in local currency,what is to stop the hotel from converting the inflated figure in your currency to an inflated price in the local currency?

Usually it will be printed on the docket the currency it is charging in. If you note it is not local currency, ask them to redo it correctly.

 

[Dr Hiro]

I agree with Flashware. One needs to check the actual currency being charged, whether on line or in person.

I have been paranoid to a stage where I automatically ask the cashier to charge me in the local currency. Sometimes, I get a puzzled expression (this is usually because that store would NOT do DCC or doesn't even know what it is).

If the cashier tells you that s/he cannot over-ride the DCC. Asks to speak to the supervisor or refuse to sign the authorisation voucher.

To further elaborate what Flashware was saying, if DCC is being done (or about to be done), the credit voucher would have something to the effect printed: "I have been offered a choice of not going along with Mastercard/Visa's currency conversion rate, and my decision is final." It may also have a very fine print of exchange rate (DCC's) displayed.

Some vouchers would even if you a box to tick the actual currency you want to use (whether local, or the home currency where the card was issued). My apologies I am unable to upload an example as I don't have enough posts.

I have encountered a few honest merchants who would actually offer me the choice. But I find the majority simply do the DCC without telling you (I think they program the machine to do that by default), and hoping that you won't notice and simply sign on the dotted line.

 

[Danger]

Does know how I might be able to take advantage of the strong ZAR (South African rand) at the moment? By that I mean I'm searching for a way to lock in the currency at the going rate (which is very strong) now with a view to making a purchase down the track. What I'm looking for would be easily achieved by an appropriate travel card (such as those offered by ANZ and Amex) but unfortunately I haven't been able to find a method that permitts ZAR.

Any suggetions would be appreciated.

 

[RB]

Does know how I might be able to take advantage of the strong ZAR (South African rand) at the moment? By that I mean I'm searching for a way to lock in the currency at the going rate (which is very strong) now with a view to making a purchase down the track. What I'm looking for would be easily achieved by an appropriate travel card (such as those offered by ANZ and Amex) but unfortunately I haven't been able to find a method that permitts ZAR.

Any suggetions would be appreciated.

I believe the Amex travel card will let you do this

"Use the Card at millions of merchants and ATMs worldwide, outside of Australia, where American Express is accepted — even online. You can also use the Card in countries where the local currency is different from the currency of your Card."

 

[Danger]

I believe the Amex travel card will let you do this

"Use the Card at millions of merchants and ATMs worldwide, outside of Australia, where American Express is accepted — even online. You can also use the Card in countries where the local currency is different from the currency of your Card."

Thanks, RB, but I don't think that will allow me to lock in the ZAR rate. That is, if I purchase a cade in USD, when I use it for a ZAR purchase it will convert to ZAR at the prevailing rate.