Is this “convenience” just another scam?

dollar wrapI’m almost never accused of being too neutral, but when I covered a type of foreign currency exchange that affects international travelers recently, that’s exactly what happened.

I was writing about a little trick called a dynamic currency conversion (DCC), which works something like this: If you’re paying by credit card overseas, a merchant will sometimes ask if you want to make the purchase in dollars, “for your convenience.” If you agree, your money is converted from the native currency into greenbacks and sent to your credit card, but at an awful exchange rate. Bizarrely, you may still have to pay your credit card a fee for a foreign transaction — so you basically convert the money twice.
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Las Vegas ATM stole $990 — can you help recover it?

Pabkov/Shutterstock
Pabkov/Shutterstock
Question: I wanted to ask you about an ATM dispute that occurred last August. I tried to obtain funds from a single ATM in Las Vegas multiple times and my card was continuously declined. I received no cash. The following day, I checked my online banking and it showed that these transactions were pending on my checking account.

I then contacted Bank of America customer service and the representative assured me that if I did not receive any funds then my account would reflect this the following Tuesday.
Read more “Las Vegas ATM stole $990 — can you help recover it?”