Consumers Hit With Hidden Credit Card Fee When Traveling Abroad
Years ago, when traveling abroad, traveler’s checks would be the preferred method for making purchases. Today, credit cards have all but replaced traveler’s checks. Plastic is now widely accepted overseas, and may be used at ATMs all over the world to dispense cash in the currency of whatever country you may be visiting. When using your credit card for this purpose, however, you should be alerted that some banks are assessing a hidden charge of as much as 3% above the current rate of currency conversion.
If you used your credit card overseas and were charged a currency conversion fee, or any other hidden fees, please contact us to discuss your legal options.