Cryptocurrency Q&A
Why am I being charged an international transaction fee?
Why am I being charged an international transaction fee?
CryptoTamer
Mon Sep 02 2024
|
7 answers
1392
Excuse me, I'm a bit confused about the international transaction fee that's been charged to my account. Could you please clarify why this fee has been imposed? Is it because the transaction involved a foreign currency or is it a standard charge for all cross-border payments? Additionally, I'd like to know if there are any ways to avoid or reduce this fee in the future, perhaps by using a different payment method or selecting a specific currency for the transaction. I appreciate your help in understanding this matter.
7 answers
Chiara
Wed Sep 04 2024
This fee is typically a percentage of the total transaction amount, and it is added to the final cost of the purchase.
Was this helpful?
112
53
Caterina
Wed Sep 04 2024
The concept of a foreign transition fee, also commonly referred to as an international transaction fee, is a charge levied by credit card companies on consumers who make purchases in a currency other than their own.
Was this helpful?
58
24
DigitalDuke
Tue Sep 03 2024
In addition to the foreign transition fee, consumers may also be subject to other charges, such as currency conversion fees or ATM withdrawal fees.
Was this helpful?
346
74
Stefano
Tue Sep 03 2024
The purpose of this fee is to cover the costs associated with converting the foreign currency into the consumer's local currency.
Was this helpful?
52
59
Alessandra
Tue Sep 03 2024
One way to avoid these fees is to use a credit card that does not charge international transaction fees or to use a debit card that offers favorable exchange rates.
Was this helpful?
223
86
Load 5 more related questions
