RIP-OFF

They wanted to pay their bill in dollars, because they'd avoid Bank of America's three percent foreign transaction fee.

Exchange rate rip-offs, and how to avoid them

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As Jay Berman and his wife were checking out of the Henley House in London last month, a clerk asked if they wanted to pay their bill in dollars. It seemed like a good idea at the time, because they’d avoid Bank of America’s three percent foreign transaction fee.