Dynamic currency conversion is a scam that banks and some third party operators have been using the past few years. You are in a foreign country and asked if you want your credit card transaction in your home currency. What they don't tell you is that they give you a really horrific exchange rate, and it does not keep you from paying your own bank's foreign transaction fee. Always have credit card transactions posted in the local currency of the country you are visiting to avoid this rip off.
Your home bank with make the conversion at interbank mid-market rates, which is a very good exchange rate ONLY if it comes in to them in a foreign currency. If it comes to them in dollars, then whoever converted it earlier has almost certainly given you a very bad rate.
Here is an article warning British holidaymakers of this practice:
http://www.dailymail.co.uk/news/arti...lion-year.html
Your home bank with make the conversion at interbank mid-market rates, which is a very good exchange rate ONLY if it comes in to them in a foreign currency. If it comes to them in dollars, then whoever converted it earlier has almost certainly given you a very bad rate.
Here is an article warning British holidaymakers of this practice:
http://www.dailymail.co.uk/news/arti...lion-year.html
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