Ever hear of dynamic currency conversion?
500 Euros and you think, “How much is that in US dollars? Quick math to calculate this isn’t easy for everyone. So foreign merchants will often offer to perform a dynamic currency conversion, even calling it DCC. This service immediately converts the foreign amount to dollars, giving you a better idea of how much you’re about to spend. Sounds great, right? There’s a catch. Merchants aren’t offering this out of kindness—they charge a significant fee for DCC, as much as 7% of the purchase price.
We knew there was a reason this is offered, not until researching did we know the high price of convenient conversion.
Dominica, not to be confused with the Dominican Republic.