CSR: when traveling abroad, is it better to charge in the local currency or convert to USD if given the option? I think the point of sale machines up charge on the exchange rate?

like
Posting as :
works at
You are currently posting as works at

Local currency, always.

like

What ur talking about is called dynamic currency conversion (DCC) in the payments business. They do exactly what u say - they charge a spread above the true exchange rate in exchange for providing the "service" of doing the math for you on the spot. It's essentially a huge scam and is being made illegal in many areas around the globe.

like

Good question. Came across this a lot while in Europe. I didn’t catch on to it till a vendor was trying to force me to select the USD option. That’s when I did some quick mental math and figured I was getting screwed. Always choose the local option. And thanks SC1 for the technical terminology/explanation! I love fishbowl. Haha

like

Local currency. Always local currency. I live in the middle east and I've set up alerts to figure out the exact answer to this.

Chase does not charge a transaction fee and gives you the exact conversion rate the instant you use your card with no markups. Stores always tack on 1-3% to the price if you pay in USD.

People don't talk about it, but if you're abroad, the no fee forex conversions are part of the reason CSR is so great.

like

More fun technical tidbits. @booz1, the exchange rates when you swipe your card are actually set by the network (visa/MasterCard), not the issuer of the card (chase, bank of America, etc). So your CSR will get no better rates than any other visa card. As long as the card has no foreign transaction fee, all Visa cards will be equal in this regard.

like

Local currency. Your bank / credit card almost certainly gives you a better rate. Check for foreign transaction fees tho

Local currency. They will try to screw you and let you charge in USD and use a bad exchange rate

If you have a card with no forex (eg CSR or Amex SPG) local currency is the best option. You basically get the wholesale/WSJ rate.

Thanks all! I had a feeling that there was something strange going on when I did some quick mental math when presented with payment options.
As a heads up - third party ATMs abroad will also play the same game (markup on the forex and withdrawal fees). If possible use a bank affiliated ATM where you can withdraw in local currency (your bank should give you the market rate-a few bps)

Related Posts

Taking a side trip from San Diego (work trip) to Palm Springs in mid January by myself. I guess I’ll rent a car and drive there. I’d like to do a day trip to Joshua Tree. Should I stay in downtown Palm Springs? An outlying resort? Any other day trips? Female solo traveler. Also debated flying from SD to Santa Barbara instead of Palm Springs. Just want to be outside and enjoy good food, wine, scenery, hiking, relaxation.

like

I am financially secure (husband now has a high earning job) and looking at what options for "moon shots" at chances of real wealth generation with my years in Big 4 (10+). Month to month cash flow isn't a concern anymore so i can focus on opportunities for bigger pay days. Ideas from the hive mind?

like

Will hotels and airlines extend their status requirements? (I really only care about Marriott)

like

Hey all! Need a couple book recs for an upcoming beach trip.

Looking for a great non-fiction, relating to travel or world history (not just one moment in time). Could also be about the marketing world or memoirs of a business leader kinda thing.

Fiction wise I also like fantasy, paranormal, and romance. Some fave book series are the Black Gryphon from Mercedes Lackey, Game of Thrones, and From Jamaica Lane series. Similar books?

like

Are we allowed to trade crypto on TD Ameritrade?

like

How often are you concerned about losing your job? Ever since I got a mortgage a few months ago, this fear has been plaguing me. The volatile market doesn’t help either.

like

Is there a calculator that I can put in all my investments and see how it works out in 50 years? I know each brokerage has their own projection thing, but just wondering if there are any other tools where i could combine everything?

What will be the take home and what is special allowance?

Post Photo
like

Looking for a career change from tax industry to any finance industry.
Current company: PWC AC
Current ctc : 8 fixed
Expected ctc : 6-7 fixed
Preffered location: bangalore

YOE: 2.5 years non relevant experience
Accenture Infosys ICICI Bank Kotak Mahindra Bank Axis Bank Ltd ANZ Bank State Street JPMorgan Chase Morningstar Morgan Stanley

like

What steps have you guys taken to generate a second/ passive income?

I would love to come across some ideas and know how it is working out for you.

like

How do I legally gets my hands on $100k that my future wife wishes to hand me over for investment purposes (she is outside the US). We won’t be marrying for another two years. Thank you!!

likefunny

Investing newbie here trying to invest my hsa. Debating if I should do 100% on something like viix for simplicity or if I should diversify? If diversifying, what’s a recommended approach? Perhaps 2-4 funds? Many thanks for the help.

like

Won’t the proliferation of digital fiat currencies created by central banks (US, England, China, Sweden) make bitcoin’s success inevitable?

like

For the 🐠 that have traveled to Egypt, can I get some recommendations on tour companies? I’m traveling with my partner (two females) and would like to have something arrange. 🙏

like

I've been interviewing with some companies, and now I have to decide between JPMorgan Chase and Globant.

Globant is more innovative, and has remote work. I will enter to work with a Sillicon Valley startup based in San Francisco. The tech stack is React, Nextjs, AWS, and a serverless architecture.

JPM is semi remote, and less innovative. The tech stack Java, SpringBoot and AWS. But I'd do more migration tasks, like dockerize projects and pass them to kubernetes. What would you choose?

like

Can someone explain to me how it monetarily helps me to split my home mortgage into half and pay half on 1st and half on the 15th? So if my payment is 4K, I pay 2k July 1 and 2k July 15

like

Anyone from AMEX project?

like
like

How do I configure a stop loss in bittrex? Is it even possible?

More Posts

How does someone get involved with writing articles for their PA firm or publications like Tax Notes? Interested in helping to collaborate on an article (no specific topic in mind) but really just to see what the process is like, but not sure how to get involved.

like

Anyone joining Ethel’s club?

Any Accenture UK consultants here?When does the performance cycle start every year? Ill join in Jan and they promised me a promotion after first year so wondering if I can still hit the annual targets

like

Shall we start curating a list of comp/bonus?
Saw the main bowl which has this list but few data points for Europe & UK.
Would be good to know what the pay is currently due to the hot market & new joiners with great comp?

like

So I'm fairly new to the restaurant business; only in like 4 years (only two concepts). Both have been pure chaos that causes so much stress and anxiety. Is this industry wide or am I just unlucky with the 2 concepts I've experienced so far?

like

Hi I’m a ACD/AD looking for a FT gig, and wanted to see if there are any similar level CWs looking to team up. DM me if you’re interested and would love to chat more! Also, I’m pretty open city wise.

like

How’s the dating scene in Austin? Any advice for a single 30 yr old Male who recently moved here?

like

Recently got an offer from KPMG. But the offer letter is in their portal with no KPMG letterhead or signatures. Next thing is there is no joining details like reporting office or whom should I report to on joining date. I have tried to contact HR via mail/ call. No response. What to do? Has anyone joined KPMG recently? How do they communicate the joining details? Please tell me

like

Is IB worth the sacrifice of WLB? Obvious pay is really good but are the prestige and pay worth it if you’re planning on only doing it for a couple years?

Currently working at an IRA with great WLB. Honestly I love my job, the firm, and people I work with.

Also doing MBA part time at a T15 school. Thinking about switching to IB but I’ve done my research and I think I would burn out of IB in two years but I might be ok with that for the opportunities after.

like

Fam, planning to sign up for AASLT as my AT this summer. Ngl, not in best shape currently. How hard is it? How much prep would you recommend?

like

What's going on with polka dot? And does anyone know what I need to do if I have some?

like

Hey Fishes,

We are hiring!!!

Kindly drop a text/ email id if you are keen.

Wipro

Post Photo
like

Any referrals for Project manager, scrum master or delivery manager roles? 16 yoe.. (exclude Tcs/Infosys)

like

Could anyone speak to what it’s like to work for HHS as an attorney advisory? Culture, substance of the work, would be interested to hear anything really. Thank you.

Thinking about giving my 2 weeks and going industry. Any chance I’ll get paid for my 22 vacation days that I stopped accruing months ago? Offer start date is firm.

like

The most hilarious mail from today's mail explosion:

Post Photo
funnylike

Anyone in Colorado hiring copywriters? Lots of experience on big clients, just need a change of scenery. Happy to share my book in DMs

Heya, are there any data migration experts about, who wouldn’t mind answering some questions I have about dashboard migration (Palantir Foundry)

like

Been planning for months to move to Chicago but I’m just seeing more and more news about crime getting worse, even in the nice areas…

Not sure what to do, I desperately want to move out of NYC and start somewhere new 🥺

funnylikehelpful

Rise and shine! Any recruiters for CVS 🥹☺️ in the building?

like

Additional Posts in Consulting

Thoughts on traveling by yourself?

like

Wealth of experience working in the Bay Area with pre ipo clients going through funding/ working on pitch books etc.

My hometown has a growing tech scene but little funding. Was thinking of parlaying these experiences and starting a bit of a consulting operations to connect the two

Anyone with insight on how I might go about doing this? Would love to chat!

like

What firms (consulting and industry) have good medical benefits? (Using BCG's as my baseline for good)

like

Anyone else hear that post-CRT partners will get fired this year in commercial advisory? How the hell does a partner get fired....

like

Best consulting companies with exposure to the blockchain / digital assets space?

like

Hey all, new hire here! Going to receive a $250 wfh credit; any recs on what I should get to build out my home office?

like

Just realized I was 4.5 weeks into pregnancy and they assigned me a project involving 5 hrs. Flight one way.. Is it wise to disclose my pregnancy so early on? are there other ways to resolve this?cont

like

Why would anyone do Commercial due diligence over I-banking?
Seems like the hours are just as bad but pay is roughly half. Exit opps seem to be similar in both roles with IBD better for PE/HF exits.

like

One of the reasons I want to transition from industry to consulting (tier 1) is that I get frustrated when I have to collaborate with mediocre people. My assumption is that Tier 1 consulting firms hire really sharp people and if I can get in, I’ll be collaborating with folks on top of their game (not expecting much from clients). I’m aware there are personal aspects I need to work on like my mindset, patience etc etc, but I just get so frustrated with blatant stupidity.

likefunny

Hate it when recruiters tease an exciting opportunity but refuse to say over LinkedIn what the company or role is... “Must set up a call for confidentiality reasons.”

likehelpfulfunny
like

Poll: What dress code do you follow at your home office?

Hi fellow 🐠 Do any of you work in Alvarez & Marsal’s transaction advisory group? My gf is at EY tax and considering moving to A&M. Interested in your thoughts on the firm and specifically the TAG?

like

Does Crowe offer any type of cellphone reimbursement? Monthly cellphone bills or buying a new phone?

like

Looking at my closet, I feel like there are 5-10 dress shirts I never wear but are in good condition. Probably paid like $30 for each. I feel so wasteful. Am I alone?

like

Is making SA just luck? This LA role is first non-executive role in 5 years and pays $40k less but I love the firm and have room to grow for once. 2 years in I'm not even close to SA. Am I a bad fit?

likehelpful

Woke up at 3:30 AM for an early morning flight.. Paid a small fee to upgrade to a window seat so that I could sleep. Was woken up not once, but TWICE by the middle seat guy opening MY window

likefunny

If I end up quitting after maternity leave, do I have to pay back any of my leave benefits? I guess I could ask HR, but wouldn't want to throw out any warnings.

like

Any good book for learning about real estate? I live in NYC,23 and I'm interested in getting in it next year God willing...?

like

Any book recommendations? Preferably shorter < 300

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal