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Re: Do watch cahrging online using B of A credit cards
From: David Farber <dave () farber net>
Date: Wed, 6 May 2009 10:44:13 -0400
Begin forwarded message: From: Gavin Treadgold <gav () rediguana co nz> Date: May 5, 2009 7:30:09 PM EDT To: dave () farber netSubject: Re: [IP] Re: Do watch cahrging online using B of A credit cards
Dave - possibly for IP.
Citibank has already been doing this - or at least, has done it to me once. I got his with a foreign currency charge for no obvious reason, and when I called, it was pointed out that one of my $ charges was to a company located in Canada.
We had a similar problem in New Zealand whereby banks were charging a % on international credit card transactions but weren't presenting this fee - it was hidden in the item charge on the statement. The NZ Commerce Commission took the banks to court over these fees, and a large number of them were reversed, and now the fees are very clearly outlined on every international transaction.
<http://www.comcom.govt.nz/FairTrading/anznationalbankpleadsguiltyovercre.aspx > <http://www.comcom.govt.nz/FairTrading/bnzpleadsguiltyovercardfees5millio.aspx > <http://www.comcom.govt.nz/FairTrading/westpactopay51millionovercreditcar.aspx >
We still attract the fees on international transactions, but they are very clearly identified as 'foreign currency service fees' or similar for each and international transaction. I'm not sure how they would handle a NZD transaction in say Australia, and whether that would incur the fee.
Cheers Gavin ------------------------------------------- Archives: https://www.listbox.com/member/archive/247/=now RSS Feed: https://www.listbox.com/member/archive/rss/247/ Powered by Listbox: http://www.listbox.com
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- Do watch cahrging online using B of A credit cards David Farber (May 05)
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