MasterCard calculation: are they correct?

Colin3

My Bank (MasterCard) say they have charged me the correct exchange rate for a Danish transaction billed on 1/12/16. The FOS and MasterCard agree. But are they wrong?

The problem starts if you check the conversion value (132.45DKK) at MatsterCard for the 01/12/16 with 2.75% commission, it agrees with the bank rate of conversion on the day.

My argument is the Bank/Mastercard has transposed DKK and £ in the line below marked **

The statement 1DKK = £0.1164 is incorrect in my view. I believe it should read

11.64DKK=1GPB, therefore 11.64DKK/11.64=1DKK = £1/11.64=£0.08591

1DKK = £0.8591:), and not as they show it, "1DKK = £0.1164":(, which is the inverse and higher.

Sorry if I'm going no about this but I've looked at my maths over and over and keep arriving at the same answer. Is MasterCard robbing me and if so how many people might be affected? The FOC don't want to know because they agree with the bank.

This is a transcript of what the bank say; then go to MatsterCard to enter the same values 132.45DKK 01/12/16 and 2.75%:

The foreign transaction is processed using a rate set by MasterCard and allows us to
incorporate our non-sterling transaction fee of 2.75%. The rate applicable at the time of the transaction is attached but it changed slightly when the transaction was debited from the account. I've focused on the transaction which was debited from the account on 1 December 2016

The rate of 11.64DKK is the figure used by MasterCard to calculate the value of DKK against GBP.

** In simple terms, 11.64DKK is equal to 1GBP, therefore MasterCard calculate the value of 1DKK as 0.1164GBP.

The total DKK spent by Mr xxxxx was 132.45 so this is calculated as follows:
132.45 X 0.1164 equals £15.42 - this is the amount charged to the customer. The actual foreign exchange rate detailed on the statement (8.5) is correct (132.45 divided by 15.42).