Travelling & the art of currency conversion

Dec 03 2012, 10:57 IST
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If you are a frequent traveller, technology has made things easier for you. (Reuters) If you are a frequent traveller, technology has made things easier for you. (Reuters)
SummaryIf you are a frequent traveller, technology has made things easier for you.

automatically does the conversion, but Visa/MasterCard merchant agreements generally require the merchant to offer transactions in foreign local currency.

Your Rights

Visa/MasterCard requires the merchant to disclose the DCC charges and provide customers with a choice of getting the bill in foreign or the domestic currency. If you do not want to use DCC, you have the right to refuse the offer and have your transaction billed in the foreign local currency.

Author is CEO, Bankbazaar.com

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