What is dynamic currency conversion?

Dynamic currency conversion allows consumers to choose to use their home currency when transacting with retailers, restaurants and other services in foreign countries. Customers view a bill showing the cost in the local currency, their home currency and an offered exchange rate if they charge their credit card in their home currency.

Is dynamic currency better than local currency?

Dynamic currency conversion will cost more than paying for your purchase in local currency whether you’re using a credit card or cash. The positives of dynamic currency are that you will know the amount you’re paying in U.S. dollars upfront and that amount is locked in.

What is the US dollar selection?

The U.S. dollar selection is a dynamic currency conversion that would cost you $20 more than if you had selected the local currency — nearly 19% more! Your card will be billed $126. The hotel, or its payment processor, used its own (unfavorable) exchange rate and fees were added.

When did the US dollar become a currency?

After the adoption of the United States Constitution, the U.S. dollar was defined by the Coinage Act of 1792.