1 reviews | Active since Dec 2011
Beware of discovery card for foreign currency purchases!!
I made a hotel booking in US $ on a reputable website, which offered a 100% refund , should you cancel within the time period. Hence I made the booking, when canceling this booking, as I needed to change dates, the refund I recieved from discovery card (FNB) , was almost 7% less than my purchase!! I queried it with the merchant & they showed me that I received the 100% refund. The foreign exchange difference was 1% , which I understand is the risk I took, but for Discovery/FNB to ***** another 5-6% as a transaction fee cannot be legal!! I have queried this twice, and just been shifted between cars division & forex, as no one is willing to give me a straight answer!! I need this resolved asap!!
Thank you for your comment.
All international currency transactions incur a 2.75% fee which is applicable to both payments and reversals. This is why you did not receive the full refund amount. Please also note that all transactions are banked at the current exchange rate and not at the exchange rate at the time of processing. This also applies to reversals.
Please feel free to email me directly should you require any further assistance.
Best Regards
Amanda
Thank you for your comment.
All international currency transactions incur a 2.75% fee which is applicable to both payments and reversals. This is why you did not receive the full refund amount. Please also note that all transactions are banked at the current exchange rate and not at the exchange rate at the time of processing. This also applies to reversals.
Please feel free to email me directly should you require any further assistance.
Best Regards
Amanda