DCC stands for "Dynamic Currency Conversion". The full name of DCC is DynamicCurrencyConversion fee, which is different from currency conversion fee. Commodity transfer is jointly charged by credit card organizations and credit card issuing banks, and DCC is charged by independent companies. DCC is a currency exchange service provided by a third-party currency exchange agency, which is different from the currency exchange services provided by visa and MasterCard, and the handling fee is higher than that charged by visa and MasterCard.
Generally speaking, the exchange rate of DCC is 5.45% higher than that of card. DCC only exists in V/M network, and the best way to avoid it is not to use V/M card unless only V/M can be used.
Once it is DCC, it will lose 5.45%. One of the signs of DCC is that the transaction SMS/WeChat shows USD, which is significantly higher than the card organization rate.
It's time to look at the credit card bill. If x is the local currency, there is no problem.
Otherwise, the merchant is required to cancel the transaction and change the card again (V for M or M for V, don't hesitate to change UnionPay).
If it cannot be revoked or revoked, it is still the same; If there is no X in front of the local currency and the US dollar, put X in the local currency and note NoUSD；;
If there is an x in front of the dollar, you should also note NoUSD.
Remember to take photos of the cancelled POS list and the marked POS list.
DCC transaction is a transaction selected by the cardholder and must be approved by the cardholder. There is a printed paragraph under the DCCPOS table, which is similar to a statement; "The cardholder has chosen to pay in XXX (currency), and my choice is the final choice ..." That is to say, if the clerk asks the cardholder whether to choose the domestic currency (such as RMB) for trading, and the customer also chooses the domestic currency trading method and signs it, the credit card transaction is usually irrevocable.
However, if it is unknown that the cardholder uses DCC privately, the cardholder has the right to request cancellation of the transaction.
The remarkable feature of DCC transaction is that there are not only the consumption currency (such as euro and pound) on the POS list, but also the amount converted into the national currency of the issuing bank and the conversion exchange rate, which is generally not available when using VM channel to pay credit cards directly.
In addition, after the POS list comes out, it is necessary to check whether there is an exchange rate display on each POS list, or whether the currency of the shopping display transaction is inconsistent with the local currency. If yes, the visa is refused. Request to cancel the transaction and then re-settle in local currency.
Visa still suggests that DCC services are not accepted before consumption, but settled in the local currency of the place of consumption, so that you can enjoy the exchange rate provided by Visa.
In addition, after the POS list comes out, it is necessary to check whether there is an exchange rate display on each POS list, or whether the currency of the shopping display transaction is inconsistent with the local currency. If yes, the visa is refused. Request to cancel the transaction and then re-settle in local currency.
Finally, if there is no US dollar consumption amount on the POS bill (when the local currency is not US dollars) and there is no exchange rate, but it is actually DCC, you can contact the bank and refuse to pay this fee.