Credit card currency conversion surcharge scam

zagfles

Marchitiello said:

@JamesFelix you have mentioned Fexco as one of the processor. In the following page it show in a linked Video “how it works”, clearly showing that an option is presented and must be selected. If this did not happen you should have made it clear in your complaint to Barclaycard and perhaps reporting it directly to Fexco. The same page has also a link to how Integrated POS would work. An integrated POS is where the cashier control the card machine terminal from the main till (think of UK supermarket set up for instance). Again, even with the integration, I am pretty sure that the choice can only be made from the card terminal (the same way as the PIN could only be entered from that side, albeit the cashier could select “cardholder not present” or “signature” from his side, which in turn means for the retailer taking an increased risk of the transaction not being honoured by the bank. 

https://www.fexco.com/currency-conversion-solutions/dynamic-currency-conversion/#

It seems Fexco offer an exchange rate guarantee, but you have to have done another non-DCC transaction on the same day as proof you could have got a better rate!

https://www.fexco.com/exchange-rate-guarantee-terms-and-conditions/

The video doesn't realy help as it doesn't show the order things are done, and what the default is. If you just tap the card what happens? In the UK you'd just tap/enter PIN and wait for the receipt, you wouldn't carry on looking at the terminal.

The fact is, time and time again people get stung for DCC without having positively selected it. Usually because it's been selected by the retailer without asking the customer. I'm very careful about it, but it's still happened to me twice. Although only small amounts.