Mastercard charges two currency exchanges when there was none - please help

padovan

This story is a bit different than the usual "Mastercard charged me too much" as I didn't need a currency exchange to begin with. I have a USD bank account and I went to the US where I used my Mastercard at ATMs and for shopping. What happened was Mastercard made a currency exchange to Euros and then back to USD so I payed for two currency exchanges when I didn't need any!!! My bank tells me that this is absolutely normal as Mastercard always calculates in Euros if you go abroad. Has anyone experienced a nonsense like this before? What can I do now? I was searching on the internet for any similar issues but I have found none. Was it the bank's fault or Mastercard's? Please give me some advice if you heard about anything like this before.

normanmark

Ive never heard of having a USD bank account in the UK. Who do you bank with?

As for the exchanges, i have no idea. Mastercard sets the exchange rates but as for why they have calculated from euros to USD is beyond me.

exel1966

Sounds like Dynamic Currency Exchange to me where the retailer has charged you in Euros. They are supposed to ask you first if you wish to pay in USD or your local currency (being US they prob assumed the Euro was your local currency as they're not the smartest of nationalities are they).
It's not the banks/cards fault but the retailers for not asking you first, but you could complain to your card company.
It's favourable for the retailer to do it this way, but not so for the customer who gets limbered with two lots of currency exchange fees.