dynamic conversions / over charging?

[trippin_the_rift]

Yesterday I made a purchase for ~$32,000 HKD and my card statement shows the amount was billed in AUD.
I checked and circled the local charge amount in HKD on the sales receipt and the attendant confirmed this in store (luxury goods store).

The dynamic conversion in AUD is about 5% higher than the equivalent in HKD and I've lost my 5 citi points per $ spent as it was charged in AUD instead of HKD.

I'm interested to know how others would handle this...

 

[puppysparkes]

Interesting, last time I made a purchase in Zara causeway bay and the financial tower, 2010, they asked if I wanted to be charged in HKD or AUD.

 

[defurax]

Are you still in HK? Is it too late to go back to the store and cancel the transaction? I imagine it is still only an authorisation.
It happened to me a few times, albeit on transactions of lower amounts, to be charged in AUD even though I asked to be charged in local currency (I'm looking at you Republic of Ireland:evil. I remember on one occasion walking back to the store and asking for the transaction to be cancelled.

 

[RooFlyer]

Should ALWAYS be asked if want to be charged in local or AUD. Twice when I haven't been asked, and found myself charged in AUD I asked for, and got, the transaction reversed. If you don't notice until later I suspect its experience value only.

 

[trippin_the_rift]

I have signed receipt with me checking the HKD box.
Called the store and they denied charging me in AUD. Citibank says otherwise...

If they refund the transaction I'm worried I'll get hit with a conversion fee and another when they re-charge the transaction.
I asked the manager for 5% of the transaction value as a cash refund or I dispute the transaction as I didn't agree to that amount.
I figure it's generous given that dynamic currency conversion is at around 4% and I've lost about 15,000 citi points ;(

 

[opusman]

DCC is a complete rip-off, and I've learned to be very careful with every card transaction overseas after getting caught once with my Qantas cash card (which will get you stung twice because unless you have AUD on it as well as the foreign currency, the purchase will come out of the foreign currency and get converted to AUD by Qantas Cash as well as by the merchant!)

 

[yohy?!]

Some terminals from China are notorious for defaulting to the non local currency the only way to avoid being to not use international cards

 

[CMA222]

DCC is a complete rip-off, and I've learned to be very careful with every card transaction overseas after getting caught once with my Qantas cash card (which will get you stung twice because unless you have AUD on it as well as the foreign currency, the purchase will come out of the foreign currency and get converted to AUD by Qantas Cash as well as by the merchant!)

My experience with Qantas Cash in Hong Kong recently was similar but I had AUS$'s, HK$'s, US$'s and GBP loaded when I did two transactions in HK$'s. I insisted with the merchants they be transacted in HK$'s, ticked the HK$ box and the receipt duly came out in HK$'s. I checked Qantas Cash later and they were transacted in US$'s. I contacted Qantas Cash and they insisted the merchants must have processed the transactions in US$'s despite my having a HK$ receipt. They insisted it had nothing to do with Mastercard or Qantas Cash. The merchants subsequently confirmed the transactions were in HK$'s. After about a week my balance of US$'s returned to the previous amount and the transaction came out of my HK$ balance. Qantas Cash would not confirm or deny that Mastercard might default, for Australian issued cards, to US$'s and therefore Qantas Cash takes US$'s for a HK$ transaction, but when the transaction is finalised by the merchant at their end, Qantas Cash then reverse and reinstate the US$ balance and process in the correct currency. The transaction costs were all reversed as well. The problem is if you do not have US$'s it does the DCC from what ever currency you have loaded and the foreign currency balances held on your account are a mess until the transaction settles. I have been trying unsuccessfully ever since to get an explanation from Qantas Cash.

 

[JohnK]

I have found in Thailand I have to ask them not to charge me AUD. Some of them still get it wrong but I make sure I check. It doesn't really matter for small differences as the difference appears to be negligible.

I now make sure I tell them everywhere I go to charge in local currency. Not AUD. I did notice in SIN airport the terminal at the duty free asks the question so you have the option to choose local currency or your own currency.

 

[opusman]

These days if I'm using QC I always keep an AUD balance there in case I get caught by DCC, at least I only pay one lot of conversion fees rather than two.