Foreign Transaction Fee

[LHT28]

Not necessarily, Lyn. While a CC might lump all the fees into one, my VanCity Visa does not charge a foreign transaction fee - just the (quite favourable) exchange rate.

 

It appears that not all VANCITY CC's are created equal

https://www.vancity.com/Visa/UnderstandingVisa/VisaCardHolderAgreementUpdate/

This is one example

2%

We will bill you in Canadian currency if you use your Visa Card to make transactions in a foreign

currency. We will convert US transactions directly to Canadian dollars at the Visa exchange rate in

effect at the time we process your transaction. For other foreign currencies, the transaction is fi rst

converted to US dollars and then to Canadian dollars at the exchange rates in eff ect at the time

we process your transaction.

When the transaction is processed, in addition to the exchange rate(s), we will charge you an additional

2% administration fee on the amount of each foreign currency transaction.

Any refunds you receive on your Visa Account in a foreign currency will also be converted into Canadian dollars in the same way.

[YoHoHo]

It appears that not all VANCITY CC's are created equal

https://www.vancity.com/Visa/UnderstandingVisa/VisaCardHolderAgreementUpdate/

This is one example

Agreed - not all CCs, regardless of the marketer, have the same conditions.

(you do better research than me on the TD card!)

[Christine Frances]

Amazon.ca has one:D http://www.amazon.ca/gp/cobrandcard/marketing.html

[PaulMCO]

tc, hope you are sitting down while reading this. You are 100% correct and it is PCH's fault for not advising people that their transactions in US dollars would be converted at a foreign bank and that there would be transaction charges so that the customer was aware of this and could then choose wisely which card to use or pay in cash.

 

Had they simply informed people up front about the transactions being thru a foreign bank and that foreign transactions charges would occur, no problem since no different than purchasing an item overseas with a credit card and would be up to the passenger to use a no fee card or knowingly pay the charges with a different card.

 

It's simply another case of PCH making extra profits by hiding this fee while reaping the rewards of credit card transactions at a lower cost to PCH.

 

Really not much different than how the marketing people come up with all these special discounted fares but, fail to mention that they are really the same price with some of the includes missing therefore apples vs. oranges.

 

Unfortunately you are wrong -- just read the cruise contract where it clearly states --

 

"Foreign/Currency Transaction Fees:

Banks issuing credit cards may impose “Foreign/Currency Transaction Fees” for onboard purchases for all itineraries, including transactions denominated in US Dollars. Oceania Cruises accepts no responsibility for foreign/currency transaction processing fees charged by credit card companies. Guests should check with their individual credit card companies for more information. None of these fees separately charged by the Guests issuing banks accrues to the benefit of Oceania Cruises."

 

 

So stating you have not been warned is 100% not correct. Do I agree with what Oceania is doing -- no. Do I use a credit card that has no foreign transaction fee's -- of course.

 

With regard to the poster that said Chase does not charge foreign fees -- that is not 100% correct. They do and only some are exempt from these fees and not all UA cards are exempt (mine is not)..

[rallydave]

Unfortunately you are wrong -- just read the cruise contract where it clearly states --

 

"Foreign/Currency Transaction Fees:

Banks issuing credit cards may impose “Foreign/Currency Transaction Fees” for onboard purchases for all itineraries, including transactions denominated in US Dollars. Oceania Cruises accepts no responsibility for foreign/currency transaction processing fees charged by credit card companies. Guests should check with their individual credit card companies for more information. None of these fees separately charged by the Guests issuing banks accrues to the benefit of Oceania Cruises."

 

 

So stating you have not been warned is 100% not correct. Do I agree with what Oceania is doing -- no. Do I use a credit card that has no foreign transaction fee's -- of course.

 

With regard to the poster that said Chase does not charge foreign fees -- that is not 100% correct. They do and only some are exempt from these fees and not all UA cards are exempt (mine is not)..

 

While what you wrote about the terms and conditions absolving O of transaction fees, I don't agree that O is without fault. Why would any sane person have any reason to think that a company in the United States taking payments in US Dollars would be using a foreign bank to process their payment and thus incur foreign transaction fees??

 

I along with most of us on this board purchase items from US companies in US Dollars and the thought never crossed my mind or I'm sure others that any of those companies would process my or your payment thru a foreign bank and that there would be additional fees.

 

Perhaps I am naive but, would never think that a US airline, Amazon, Microsoft, Sears, Macy's, you get the message would use a foreign bank which would cause me to pay a foreign transaction fee.

 

Totally agree that I have several credit cards without the fees and when I travel outside the country, I use them exclusively but, why would anyone worry about a foreign transaction fee when dealing with a US based company taking payments in US Dollars.

 

Perhaps there are other companies using this deceptive processing but, have never heard of any. And, when people became aware that their cruise payments were incurring that extra fee, all it took was a call to Regent or Oceania and the fees were credited. PCH took responsibility at that time and now as gone the other way and started processing on board payments this despicable way so what's next, going back to the fees for cruise payments?? Don't doubt that is next.

 

The very least they could do would be to provide a notification that transactions would (not might) be processed thru a foreign bank and foreign transaction fees would be charged and if your credit card charged you those fees, you are so warned.

 

Would cost PCH absolutely nothing since they would still get the lower processing fees but, would make customers aware and thus not upset at extra unexpected charges.

[hondorner]

I know that certain countries impose VAT fees on ships that are using their ports. Is it possible that purchases made in those circumstances are processed through banks outside the USA? Is it possible that this is the circumstance that brought about the Foreign Transaction Fee?

 

Is it possible that a ship traveling away from the USA for extended periods of time processes their charges through a foreign bank from time to time?

 

This sounds very much like a rare situation; if it applied to all shipboard charges on every Oceania cruise, we'd certainly have heard about it from more than one person. Perhaps others who have recently returned home and received their statements can comment?

[hondorner]

duplicate

Edited December 18, 2013 by hondorner

[PaulMCO]

While what you wrote about the terms and conditions absolving O of transaction fees, I don't agree that O is without fault. Why would any sane person have any reason to think that a company in the United States taking payments in US Dollars would be using a foreign bank to process their payment and thus incur foreign transaction fees??

 

I along with most of us on this board purchase items from US companies in US Dollars and the thought never crossed my mind or I'm sure others that any of those companies would process my or your payment thru a foreign bank and that there would be additional fees.

 

Perhaps I am naive but, would never think that a US airline, Amazon, Microsoft, Sears, Macy's, you get the message would use a foreign bank which would cause me to pay a foreign transaction fee.

 

Totally agree that I have several credit cards without the fees and when I travel outside the country, I use them exclusively but, why would anyone worry about a foreign transaction fee when dealing with a US based company taking payments in US Dollars.

 

Perhaps there are other companies using this deceptive processing but, have never heard of any. And, when people became aware that their cruise payments were incurring that extra fee, all it took was a call to Regent or Oceania and the fees were credited. PCH took responsibility at that time and now as gone the other way and started processing on board payments this despicable way so what's next, going back to the fees for cruise payments?? Don't doubt that is next.

 

The very least they could do would be to provide a notification that transactions would (not might) be processed thru a foreign bank and foreign transaction fees would be charged and if your credit card charged you those fees, you are so warned.

 

Would cost PCH absolutely nothing since they would still get the lower processing fees but, would make customers aware and thus not upset at extra unexpected charges.

 

You are the one who stated that Oceania is not warning there customers about this. How about because it says it in black and white in your contract. When I stay at a hotel in Israel for example and I pay in USD -- there will be the same charge (transaction fee) if I use a card that charges transaction fees.

 

Note the terms only apply to On board services and of course you are not traveling in the USA with Oceania -99% of their port are in foreign countries.

Edited December 18, 2013 by PaulMCO

[Hawaiidan]

Oceania is not the recipient of profit from the transactions fees the credit card company is. ; that is who you need to complain to because Oceania has no control whatsoever as a merchant.

 

Too, the credit card company is charging Oceania 2 to 5% just to let you use your credit card and does not allow Oceania to charge you that fee.

 

In todays complex world it can be dangerous to assume things. Ones focus on becoming a better consumer is thus very important and needs to be ongoing throughout life

 

lest people be confused " PCH" is an official registered security on NYSE of the Potlatch corp. In commerce , "PCH" is an official reg mark of Publishers Clearing House...and they do offer credit .

Making up abbreviations at a whim is a rather poor practice.

[PaulMCO]

Can blame us :)

 

http://www.prestigecruiseholdings.com/