Thursday, February 13, 2020

The Legal Scam of Dynamic Currency Conversion

We saved some money this morning.

The Euro mid-market rate is currently US $1.0868 so we decided to withdraw €200 from a bank ATM in the station.

We inserted our fairly new Chase debut card, and the ATM kindly offered us in English a currency conversion of around $1.16.

We declined and a few moments later it spat out €200.

Chase emailed our withdrawal of $218.54. Had we accepted the conversion rate offered, it would have cost us about $232.00.

It’s sad to think how many tourists must fall for it, not knowing about this ripoff.

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