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| SL charging Colones instead of U.S Currency on Card https://forum.costaricaticas.com/viewtopic.php?f=1&t=16989 |
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| Author: | Traveler417 [ Fri May 11, 2007 12:00 pm ] |
| Post subject: | SL charging Colones instead of U.S Currency on Card |
I just got done with my second trip and Vanessa at the desk asked if she could charge colones instead of U.S currency. I said yes and now i got a $21 dollar currency exchange charge. So tell them NO. SL can put U.S or Colones through the credit card swiper. Just a note if you dont want a currency charge make sure they charge U.S currency to your CC |
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| Author: | Orange [ Fri May 11, 2007 12:20 pm ] |
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Are you sure they can charge dollars or colones? I have always been charged colones. The bill is always in colones and that's what they charge my card. I have never had a currency exchange fee, only a small international transaction fee (like $2). I have used a couple of different cards in CR and have never seen a currency exchange fee. Is this something new? Anybody out there work in this industry? |
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| Author: | BlueDevil [ Fri May 11, 2007 2:17 pm ] |
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Orange wrote: Are you sure they can charge dollars or colones?
I have always been charged colones. The bill is always in colones and that's what they charge my card. I have never had a currency exchange fee, only a small international transaction fee (like $2). I have used a couple of different cards in CR and have never seen a currency exchange fee. Is this something new? Anybody out there work in this industry? I just checked a few of my archived cc statements dating back to 2005. Every time I stayed at SL, I was billed in CRC's converted to US $ on the day of the transaction. (I was never given any option of charging CRC or US $). Maybe a PM to True Sportsmens will solve this mystery. Yes, the currency exchange fee sucks a big one...another reason to pay your hotel bill in cash (US dolares). This keeps things simple for both you and your innkeeper. (It also gives the hotel some maneuvering room when it comes time to strike a special rate.) |
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| Author: | Irish Drifter [ Fri May 11, 2007 2:22 pm ] |
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The credit card processing in Costa Rica is handled by credimatic. ALL merchant transaction must be processed in colones. The merchant has no option to accept the transaction in anther currency. If your bank is ripping you off with outrageous currency exchange fees either pay in cash or get another bank. |
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| Author: | Orange [ Fri May 11, 2007 2:39 pm ] |
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I have used my Citibank AAdvantage Mastercard at a few places in CR (SL included) and have never been charged a currency exchange fee. They do hit me with like a $2-3 foreign transaction fee, but I'll take that over $21. |
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| Author: | Mucho Gusto [ Fri May 11, 2007 2:47 pm ] |
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Orange wrote: I have used my Citibank AAdvantage Mastercard at a few places in CR (SL included) and have never been charged a currency exchange fee. They do hit me with like a $2-3 foreign transaction fee, but I'll take that over $21.
Ditto! Same here. AA Citibank M/C. Minimal fee(s), plus free miles! MG 
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| Author: | Traveler417 [ Fri May 11, 2007 6:39 pm ] |
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Vanessa asked me if it was OK to Charge Colones. I said ya, because I use I card at DR and get 20cent charges for $20 out of the ATM and then I get a $21 for my $700 dollar bill at SL. SL can enter either U.S or Colones. I was there 2 months ago and SL charged US currency and I had no added or extra charge. I use wellsfargo |
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| Author: | Traveler417 [ Fri May 11, 2007 7:03 pm ] |
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05/10/07 VISA CRD PURCHASE 05/08 SPORT MENS LODGE SAN JOSE CR 432377XXXXXX2302 130740009106559 ?MCC=7011 092905278DA $708.29 05/10/07 FOREIGN CURR CONV FEE 432377XXXXXX2302 130740009106559 ?MCC=7011 092905278DA $21.25 |
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| Author: | GoodToGo [ Fri May 11, 2007 7:31 pm ] |
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Many credit card issuers charge up to 3% on foreign transactions. |
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| Author: | Pidd [ Fri May 11, 2007 7:34 pm ] |
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You may want to check this out... will pay the price of a VIP membership! must submitt by 1/9/2008 http://www.ccfsettlement.com/ PIDD ======================== In re Currency Conversion Fee Antitrust Litigation (MDL 1409) Subject to final Court approval, a settlement has been reached in In re Foreign Currency Conversion Fee Antitrust Litigation (MDL 1409). This web site supplies information about the litigation and the settlement, and provides links to relevant documents for Members of the Settlement Classes and others interested in the settlement. The lawsuit is about the price cardholders of Visa-, MasterCard-, or Diners Club-branded payment cards were charged to make transactions in a foreign currency, or with a foreign merchant, between February 1, 1996 and November 8, 2006. Plaintiffs challenge how the prices of credit and debit/ATM card foreign transactions were set and disclosed, including claims that Visa, MasterCard, their member banks, and Diners Club conspired to set and conceal fees, typically of 1-3% of foreign transactions, and that Visa and MasterCard inflated their base exchange rates before applying these fees. The Defendants include Visa, MasterCard, Diners Club, Bank of America, Bank One/First USA, Chase, Citibank, MBNA, HSBC/Household, and Washington Mutual/Providian. They deny the Plaintiffs' claims and say they have done nothing wrong, improper, or unlawful. Please note that dates and other materials set forth in the Preliminary Approval Order (PDF: 76.6 KB) and the Stipulation of Settlement (PDF: 420.2 KB) (and/or in its exhibits) may change. Check this website or call 1-800-945-9890 for updates. Please do not contact the Court, the defendants, or the financial institution that issued your credit, debit, or ATM card. Contact us for more information about this page. Page was last updated on 2/20/2007 at 11:59:00 AM (EST) Please make sure that any claim form sent via mail is addressed to: Settlement Administrator P. O. Box 290 Philadelphia, PA 19105 Claim forms should NOT be submitted to any other address. |
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| Author: | Witling [ Fri May 11, 2007 7:36 pm ] |
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You fellers might want to double-check the fine print on those statements. I carry the Citi AAdvantage World Platinum Mastercard. This is what it said on my 3/15/07 statement.: I had $1405.16 in purchases and $571.63 of those were made in Colombian pesos at 6 different locations. The last line of the Activity showed: PURCHASES*FINANCE CHARGE*FOREIGN TRANS.......................14.53 (I had no previous balance). That is approximately a 2.5% charge. This statement also appeared in the remarks area: Your Card provides the convenience of transacting in foreign currencies worldwide wherever MasterCard is accepted without having to exchange and carry more foreign currency than you need for your transaction. Each purchase you make in a foreign currency is subject to a one-time transaction fee. The Annual Percentage Rate for Standard Purchases shown on this statement applies only to purchases made in a foreign currency. I remember getting something from Citibank after the "allegations" that Pidd posted above. This is from Citibank's website: Citi converts a transaction made in a foreign currency into a U.S. dollar amount for posting to your account. Visa International, MasterCard International and American Express act in accordance with the operating regulations or conversion procedures they have in effect at the time the transaction is processed. Currently they use a currency conversion rate that???s either (1) a wholesale market rate or (2) a government mandated rate in effect one day prior to the processing date. MasterCard and Visa increase this conversion rate by 1%. We increase the conversion rate provided to us by MasterCard or Visa by 2%. The currency conversion rate calculated in this manner on the processing date may differ from the rate in effect on the transaction or the posting date. |
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| Author: | ChiTownGino [ Fri May 11, 2007 11:26 pm ] |
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My capital one visa has never charged me any fees however my bank of America ATM card charged me $ 7.00 a pop  now a just take cash.
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| Author: | Scubabum [ Fri May 11, 2007 11:34 pm ] |
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Ditto for me: Citi AA Mastercard charges 3% foreign exchange so I use my Cap One when in CR. |
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| Author: | Lennydo [ Mon May 14, 2007 1:09 am ] |
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Every card in my wallet charges a 1% fee except for Capital One. So, I guess the "What's in your wallet?" really matters. I tried to get a higher limit with Capital One to cover my airfare, hotel, etc for my frequent trips to CR but Capital One says they do not respond to limit increases from customers. Go figure...... So, I book my airfare on another card and use Capital One Mastercard when in CR. The only trouble is occasionally their fraud department calls me because I am using their card in CR when the airfare was not paid for by their card. I've told the fraud dept the story about too low of a limit now three times, but nothing has changed. 
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| Author: | Phoenix Rising [ Mon May 14, 2007 7:39 am ] |
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Irish Drifter wrote: The credit card processing in Costa Rica is handled by credimatic. ALL merchant transaction must be processed in colones. The merchant has no option to accept the transaction in anther currency. If your bank is ripping you off with outrageous currency exchange fees either pay in cash or get another bank.
Irish drifter, I used a credit card at three establishmnets in CR recently. The duty free on the arrivals side, thrifty rent-a-car, and the Copa in Jaco. ALL three transactions were in US dollars. The statements reflect that as well. The duty free shop actually asked me which currency I preferered. PHX |
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