Currency and billing question

[Live4cruises]

We (very) recently booked our first river cruise on Scenic for 2013. Everything on my invoice is shown in USD, and there was no mention of any other currency for our booking cost. However, when I checked my credit card online, there is a 3% foreign transaction fee. :eek: Has anyone else experienced this? Being basically distrustful of big banks, I think they added that on in error. I appreciate any insights.

 

Thanks,

[Ozjohnno]

This is only a guess but as Scenic is an Australian company perhaps the fee was for the conversion from AU dollars to US dollars.

[firstplacechef]

Your CC may charge the fee as a foreign transaction fee and it may not be The cruise line.

[kruzaddict]

We also booked with Scenic, our invoice was in CDN$ and there was no foreign transaction fee when the charge went on our CC. I would check with your bank, not something Scenic has done I don't think.

[mountainhouse]

Bank transaction fees for converting foreign currencies typically range from 0-3%. For example, Amex is 2.7% and Citibank cards are usually 3%. Here's cards with no fee:

 

http://www.nerdwallet.com/blog/top-credit-cards/no-foreign-transaction-fee-credit-card/

[K2DangerGirl]

Even if the entire bill is in USD, if the cruise line (for business reasons of their own) uses a bank that is based outside the US there may be a foreign transaction fee. This is not necessarily a foreign currency fee but the bank that issued your credit card charging an additional fee to process a transaction from a foreign bank. Some credit cards--Capitol One, some Chase cards and some AmEx cards--do not charge this fee.

[Live4cruises]

K2DangerGirl nailed it.

 

I phoned Scenic to verify that I was billed and payment remitted in USD. Then I called my Big Bank card where after about 30 minutes and 5 different people, I was refunded "but only this one time". I'm still not convinced of the risk incurred when only one currency is involved, and the cross border is Canada, a fairly stable business environment.:) I think my risk is greater doing business with Big Bank!

 

I'm glad I learned this quirk on a deposit and not final payment. You can bet that when final payment day rolls around, I'll figure out a different method of payment than Big Bank!