How can I benefit from Currency Choice?
When paying for hotels, restaurants, or goods, the amount you sign for is the exact amount you’ll be charged on your statement, so you always know exactly how much you’re spending when abroad. Business travellers can claim their expenses without wasting time converting all those receipts back to their home currency – an additional benefit.
Is Currency Choice better than the traditional way of letting banks do the conversion?
Using Currency Choice puts you in control of your expenses. When you sign the bill for an amount in your billing currency, you always know how much you’re paying at the time of purchase. Using the traditional way, by signing in the local currency, you have to wait for the card statement to arrive before you know exactly how much you’ve spent in your home currency, and this can be subject to currency fluctuations.
How does Currency Choice work?
When hotel, restaurant, or shop staff ask you if you’d prefer to pay in your card billing currency, you’ll see the price in both local and home currency. If you accept the amount in your own currency, simply sign the credit card slip – this is the exact amount charged to your bank. If you don’t accept the converted amount in your home currency, you can still sign in the local currency. The effective exchange rate is then applied by your card issuer and the converted billing amount will appear on your subsequent card statement.
Where can I use the Currency Choice service?
Currency Choice is available at major hotels, airport retailers, leading stores, serviced apartments and even hospitals and clinics. The number of locations and countries affiliated is continuously increasing. If you’d like to find out whether a merchant provides Currency Choice, please contact us.