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Foreign Transactions - CC Statement Show Exchange Rate Used?
olimits7

5+ Year Member



 
Msg#: 4422876 posted 11:03 pm on Feb 28, 2012 (gmt 0)

Hi,

I charge all my customers in USD currency. However, I was just wondering how would my USD charge amount show up on my international customer's credit card statement?

I'm guessing it shows the amount in their home currency, but does it also show them what the USD amount I charged them was? Or what exchange rate was used to convert my USD amount to their home currency?

Also, do credit card statements usually bundle the "foreign transaction fee" into the converted currency amount that was charged or does this "foreign transaction fee" show up on a separate line within the credit card statement?

I've never purchased anything oversees so I'm just looking to learn more on how these transactions show up on my international customer's credit card statements.

Thank you,

olimits7

 

Staffa

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 4422876 posted 2:24 am on Feb 29, 2012 (gmt 0)

I just have my statement in front of me ;o)

It shows :

date - ID - Seller - Seller Location - Amount charged in my own currency
Amount in USD Exchange Rate n.nnnnn

Everything is there

olimits7

5+ Year Member



 
Msg#: 4422876 posted 2:40 am on Feb 29, 2012 (gmt 0)

Perfect timing! :)

Ok, thank you! Does this same information show online under your account, or only on your mail/pdf statement?

I just checked with the Visa credit card I have with my bank, and it shows very similar to what you posted but only on my pdf statement and not on my online activity list.

Thank you,

olimits7

Staffa

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 4422876 posted 9:15 am on Feb 29, 2012 (gmt 0)

You're welcome

Unfortunately, I can't answer your second question for my Ccard provider does not have an online facility to view my account.
The info comes from my monthly paper statement.

topr8

WebmasterWorld Senior Member topr8 us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 4422876 posted 10:58 am on Feb 29, 2012 (gmt 0)

>>Also, do credit card statements usually bundle the "foreign transaction fee" into the converted currency amount that was charged or does this "foreign transaction fee" show up on a separate line within the credit card statement?

i think it depends on the bank.

i've had some customers complain to me that there is another fee (that looks like it is charged by me!) as a seperate entry which is a foreign currency processing fee. ... needless to say this is a bank change and not charged by me.

additionally i'm in the uk and process orders through a UK processor, although i accept $US (eg have a US$ merchant account), occasionally US customers still get this 'foreign' fee added.

(i won't rant!)

am just pointing out that there are a great many card issuers, especially in the USA and they all charge and show fees in different ways.

olimits7

5+ Year Member



 
Msg#: 4422876 posted 3:00 pm on Feb 29, 2012 (gmt 0)

Thank you for the replies!

The reason I'm asking this is I want to implement a "verify credit card" feature on my website where each time a new credit card is added a random amount will be authorized on the user's credit card and they have to enter this amount on my website to verify it.

However, I'm trying to see if this would work with international customers because I know depending on what "exchange rate" is used the amount might not match to my USD amount.

If I authorize an international card; would the international customer be able to call their bank/credit card company to find out what the amount that I charged was in USD currency?

Thank you,

olimits7

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