The cost is not liked by many. The fee is their “International Transaction” fee and most if not all Banks charge this now. The fee paying has been discussed in another section of this forum and I include below the links to each:
Having lived in various countries around the world I see Australians being ripped off, maybe gouged, by the banks for international financial transactions. What can we do about this?
Choice should investigate who is offering the lowest currency transfer fees… because it’s almost impossible for customers to work it out:
Banks, financial institutions and other financial services providers never provide the true cost of a transaction to a customer. Most mislead customers by claiming that no fees exist or that only modest fees exist. The main fee they leave out is the exchange rate. The banks quote an internal bank exchange rate which is currently 4c lower than the market excha…
Just noticed about a month ago that I started getting charged an “international transaction fee” for some purchases in Australian dollars, by the Commonwealth Bank. I spoke to them and they said they only started doing this in August 2016 because all the credit card providers started charging this fee.
My main issue with this, is there is usually no way to tell when a seller’s account is located overseas before the transaction. These hidden fees are really starting to get annoying when you pay …
3 Likes
