[HKfornow]

KIA, "What credit card company are you using"
-Using DahSing Bank
"http://www.oanda.com/convert/classic slight diff between interbank and credit card rates."
-my charge shows just the HK$ amount no conversion involved, just like any regular charge (if I did not bother to compare this statement with my confirmation I would not even have caught the surcharge).

PDLM -"Very strange. Every month I make a transaction using my HK-issued Visa card in the UK but denominated in HK$. I always get billed exactly what I should and neither Citibank nor Visa has ever levied a surcharge on me (and nor would I let them). Unless there is more to your story, I would simply refuse to pay in your situation."
-In my original post "since Visa/Master started implementing this charge in April" supposedly this took effect on April 7th, my charge was May 17th, I got my bill yesterday. the bank (Dahsing) claims that they cannot waive the additional charges as it was levied by Mastercard not them the bank, and the only solution was to negotiate with Singapore airlines. . .whom I did call them to see if they could reverse the charges and rebill me in HK. . .their response was that the bill was done in HK, so it's a technicality with the bank. . and to go back to the bank to negotiate - bank refuse to budge, cycle repeats.

Since this new "rule" supposedly took place in April, I don't think there's any harm in scrutinizing your statements in the future. . . just as a precaution.

[PDLM]

I have just reviewed my statements, and the transactions on 18/4, 15/5 and 15/6 in HKD transacted in the Isle of Man (part of the UK, sort of) were all billed to my Citibank Visa for the exact HKD amount that they should have been.

I still say don't pay. If you have a confirmation showing the price you will pay then the onus is on the credit card company to show you the clause in the T&Cs of your card that identifies the surcharge.

And it doesn't matter where the bill was done - if you signed for a HK$ amount on a HK$ credit card then I have never seen a set of T&Cs that allows a surcharge.

If they won't move then simply get a different credit card (no shortage of choice in this town). Make sure you pay off everything you owe DahSing except the surcharge and then just close the account.

[PDLM]

Originally Posted by KnowItAll

http://www.oanda.com/convert/classic slight diff between interbank and credit card rates.

Exactly - the difference being the surcharges we are discussing.

The only card I know that doesn't is a UK based one: http://www.nationwide.co.uk/pdf/cred...reditCards.pdf

[HKfornow]

PDLM, thanks for the advise, I will keep following up with Dahsing to see what they have to say.

Since transaction was done online-there are no signed copies, however, I have my airline confirmation via email stating the amount that SQ charged.

The sticky part is my bill pay is set-up on autopay, so they will take the whole amout come bill date. However, as you said there is no shortage of credit card choices in this town, so if they want to play hard ball that's perfectly fine with me, I don't mind giving another company my business. What is that saying. . "fool me once, shame on you, fool me twice, shame on me?"

[KnowItAll]

HKFornow, can you ask dahsing to send you a copy of the new visa / mastercard changes?

I did find one reference to a surcharge ....

http://travel2.nytimes.com/2006/02/1...rac.html?fta=y

Still waiting on my credit card processor to confirm this (should have something by Monday).

[KnowItAll]

I've also sent an email to the PR folks at both Visa and Mastercard. Lets see if they bother to respond.

[HKfornow]

KIA, will call Dahsing and go another round with them either tomorrow or Monday, and will ask them to send me the terms of the surcharge. . . as soon as I receive it, I will definitely post it.

[HKFella]

So the infernal "commission in lieu of exchange" (which is another way of saying commission waived if the transaction involves FX conversion) charged by banks on same-currency transactions is now spreading its tentacles from the realm of trade finance and remittances to credit cards!! Yes, better ask your bank to show you where in their T&C they told you about this. Citi keeps sending out a flyer on this exchange conv - (I'd better take a look at the fine print next time before binning it.)


BTW, I regularly use oanda.com for reference for interbank rates and rates history (v. neat feature), but on their spread-loaded rates the results didn't seem to come out right, so I stopped relying on that feature some years ago.

[HKfornow]

Talked to Dahsing on Sunday, they say they will investigate the matter and get back to me, so far haven't heard from them yet. . . hopefully they will reconsider their stance on gouging consumer this way.

[KnowItAll]

I'd also drop an email to SCMP .. they have a consumer column in one of their editions.