euro or austrailian dollar ??????

joannemc3

hello all
on a recent trip to furterventura i purchased 2 bottles of perfume from a reputable shop when paynig with my debit card i was asked whether i wanted to pay in euros or austrailian dollars ?????? very odd , i opted for the euros as i thought i had heard wrong , anybody know anything about this ???? i know from talking to a lady in a local cafe that she said if you get money from the cash machine , then when it asks you if you want the exchange rate in euros or gbp , to opt for the euro as it has better exchange rate , she was right , on my statement it says 1.44 euros !!

thanks

richardw

Always go for the local currency, the others will cost you more.

alanrowell

Look up "Dynamic Currency Conversion" and find out why it's a very good idea to pay in local currency

pin

Maybe lady mistook your scouse accent for an aussie one?

joannemc3

alanrowell wrote:

Look up "Dynamic Currency Conversion" and find out why it's a very good idea to pay in local currency

ive just googled it .... wow ....cant believe they are allowed to do that , thanks to everyones info

doristhecleaner

If you look into DCC you can see that the objective of DCC is only to benefit the merchant that you are buying from. The objective is NOT to give you a better deal than card processors and the banks. There is an article from 2003 on a US website that clearly shows the benefits to the merchant - either the consumer pays the bank a %age or the merchant uses DCC and takes the same, or PROBABLY, a higher percentage of the total transaction by using a bad exchange rate (for you). Someone tell me if I have this wrong but DCC seems to provide the seller with the ability to make more money on the deal by offering you a price in your currency. So until I am better informed I'm going to turn down any offer of DCC and check the currency of all bills abroad before pinning them.