dslreports logo
 
    All Forums Hot Topics Gallery
spc

spacer




how-to block ads


Search Topic:
uniqs
2303
share rss forum feed


disconnected

@snet.net

[Rant] "ISA FEE" now applies to international purchases

I bought some furnature last December and just last week, some keyboard drawers from the same vendor in Vancouver, BC. The Dec purchase billed my CC one time, for the items purchased. However, the March purchase has a new fee associated: the "ISA FEE" which Google reveals to be a currency conversion fee.
Looks like the CC companies are digging hard and deep for any extra revenue they can eek out of the consumer.
Looks like I'll not be buying anything that resides in a country that needs currency conversion.
Check your statements. If you see an ISA FEE showing up, match it up to the purchase date of an item of the same date. It's probably non-local, and there's the source.
Another new fee that CC companies can charge. How nice.


wenter99
Alpha Male
Premium
join:2003-12-09
Albuquerque, NM

2 edits

1 recommendation

This is news? I've been paying currency conversion fees on foreign Visa and AmEx purchases for over thirty years. PayPal charges conversion fees as well. I admit that I've never seen them referred to as an "ISA FEE" though.

It's just another day...


disconnected

@snet.net
Hmmm... either I've never noticed them before, or maybe the countries I've been buying from had some way around this. My purchase from Cymax in 12/08 did not contain the fee, but a followup purchase I made this month did. Go figure...


Alakar
Facts do not cease to exist when ignored

join:2001-03-23
Milwaukee, WI
said by disconnected :

Hmmm... either I've never noticed them before, or maybe the countries I've been buying from had some way around this. My purchase from Cymax in 12/08 did not contain the fee, but a followup purchase I made this month did. Go figure...
Most banks and bank cards I've used roll the conversion fee in to the exchange rate they give you. i.e. the official rate for that day is 1.20:1.00, they do the exchange at 1.10:1.00, keeping the .10 as a fee.
--
"Necessity is the plea for every infringement of human freedom; it is the argument of tyrants; it is the creed of slaves." William Pitt the Younger

ElJay

join:2004-03-17
Reviews:
·Time Warner Cable

1 edit
reply to disconnected
Just about every Visa or Mastercard will have at least a 1% fee when two currencies are involved. That base fee is a Visa/Mastercard thing, not something imposed by the credit card issuer. However, most card issuers then typically put on an additional 2% fee of their own. If you do foreign transactions often, it would be a good idea to get a card from Pentagon Federal Credit Union. They only charge the 1% fee from Visa and nothing more.

I got dinged by this fee a few months ago. I bought a CD box set on Amazon.ca, then the guy canceled my order a few weeks later because the "in stock" item he was listing wasn't actually in stock. So at the end of the day I was out that 3% foreign transaction and currency fee because of the phony listing.


Gbcue
Premium
join:2001-09-30
Santa Rosa, CA
kudos:8
reply to disconnected
Nothing new, but the CC companies have been hit with a class action lawsuit charging them of overcharging for conversions.


Technogeez
Agape in amazement.
Premium
join:2007-01-20
said by Gbcue:

Nothing new, but the CC companies have been hit with a class action lawsuit charging them of overcharging for conversions.
I HATE class actions, especially when they propose to represent my interests.

Usually, I get a coupon for $2.00.

The lawyers get a coupla million, and the sucker they con into being the lead plaintiff gets a coupla thousand for their trouble.

And the company sued gets off cheap, and everybody else loses.

In this case, they'll make up for the settlement by jacking up the late charge again... tell me now -- who wins that case?
--
Read your contract and TOS before signing anything.