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The foreign currency gouge


Wed May 16 2007

Choice --- Page: 28031 : May 2007
No author supplied for original article

ABIX Summary
Australians have been warned about hidden fees on overseas transactions. The "Choice" magazine analysed credit card statements and foreign exchange transactions and found that consumers were often charged much more for overseas transactions than the fees appearing on their statements. People should be aware that when they pay with credit cards for purchases while staying in foreign countries they use "dynamic currency conversion" which is a very expensive way to pay for products and services.


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