Beating the Currency Conversion Scam
Have you ever been abroad and been asked whether you would like to pay in your home currency or the currency of the location you are in? That choice is not simply one of just personal preference. Whilst most tend to opt to transact in their home currency, doing so will likely lead to paying more. The European Consumer Organisation, BEUC, has released an infographic and factsheet explaining how this practice of dynamic currency conversion is estimated to cost EU consumers over £500m a year and are subsequently calling on the European Commission for a ban. Until then? Just say no!
Find out more about this issue here.