Next time you're in, can you get me some salt and vinegar (preferably malt) to go with that chip on my shoulder! :bandit:
- Thread starter rhanson1
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Warning to Playero customers using credit cards
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Next time you're in, can you get me some salt and vinegar (preferably malt) to go with that chip on my shoulder! :bandit:
Why not go back to the Store and try to Duplicate this ... and watch it closely step by step... follow the advice given here in the many posts .
And if you are not offered the chance to pay in Local Currency. then we know who is running the Scam..
if they do offer it , maybe the Cashier simply made an honest mistake
but if she point blank tells you that no such option exists , you have your final answer..
And if you are not offered the chance to pay in Local Currency. then we know who is running the Scam..
if they do offer it , maybe the Cashier simply made an honest mistake
but if she point blank tells you that no such option exists , you have your final answer..
You should walk back into Playero and apologize. The merchant doesn't control exchange rates on foreign currency conversion with credit or debit cards. That's the credit card processing company, and many of them like to play games with the exchange rate, this happens all of the time, all over the world. Playero is not making a single peso off the currency exchange in fact they are paying an additional fee of 1-3% for taking your international card. When they charge your card for 2000 pesos the only thing they see is a credit for 2000 pesos minus the transaction fees. So if your going to complain about that difference your barking up the wrong tree.
The only time your going to get peso/dollar exchange at the current rate is via an ATM withdraw from an international bank. Popular and Progresso are usually spot on.
The funniest part of this whole thread is that someone seriously had enough time to compare the exchange rate on a grocery receipt... Go to the ATM, withdraw money, exchange it on the street and then buy your damn groceries.
The only time your going to get peso/dollar exchange at the current rate is via an ATM withdraw from an international bank. Popular and Progresso are usually spot on.
The funniest part of this whole thread is that someone seriously had enough time to compare the exchange rate on a grocery receipt... Go to the ATM, withdraw money, exchange it on the street and then buy your damn groceries.
Yes, I will do that. But keep in mind that this was not a one-time event. I have been using my credit card down here for years, and no merchant has ever asked me whether I wanted it to be processed in pesos or dollars. That's why I was not aware that I had an option. And it was never a problem until the recent experiences at Playero.
I am heading back to the States for a short visit in another week or so, but hopefully I will have an opportunity to use my card again before I go. If not, I will be returning in late October and try this experiment then. But it would be good if someone else for also try this experiment and report their results with something other than I used my card and it worked fine like a previous poster said. Tell us whether they automatically processed the purchase in U.S. dollars and, is so, what they received for an exchange rate, or whether they were successful in getting the purchase processed in pesos.
Have any of the above links been read? Are you familar with Dynamic Currency Conversion (DCC)? "This is a pure money grab from the merchants, and it's billed as an easy way to squeeze additional revenue out of the transaction. Numerous articles have talked about DCC duping many consumers. Discover even has a warning about being tricked into DCC when using a card abroad."
https://milelion.com/2015/04/24/beware-the-dynamic-currency-conversion-scam/
https://www.flyertalk.com/forum/cre...nversion-dcc-2014-2016-a-printerfriendly.html
Jeez, another ridiculous post from another angry old expat who is either too lazy to read the posts or too numb to understand them, yet spouts all kinds of misguided comments as if he knows what he's talking about. I give up. What makes so many of these guys down here like this??
Okay, so it could well be DCC, but I always thought that was more ridiculous charge of like 10% , 4% seems a good deal for DCC.... ! lol
If I am not mistaken some people think if they use the DCC they maybe better off because their bank charges them such huge fees on foreign transactions that it is worth it - but large DCC difference in rates usually does not warrant that, 4% may do... !?
Now back to Playero, if it is DCC, then the cashier is in error of course, she MUST ask the customer if they want to use DCC or not. Maybe DCC is not used a lot in DR, but it is done a lot in Asia and Europe, lots of news/alerts about it as a big scam - DR maybe starting to catch up, but they must ask first, otherwise as mentioned it is illegal (how you can prove it, who knows !).
So the lesson is, check your receipts when using CC !
If I am not mistaken some people think if they use the DCC they maybe better off because their bank charges them such huge fees on foreign transactions that it is worth it - but large DCC difference in rates usually does not warrant that, 4% may do... !?
Now back to Playero, if it is DCC, then the cashier is in error of course, she MUST ask the customer if they want to use DCC or not. Maybe DCC is not used a lot in DR, but it is done a lot in Asia and Europe, lots of news/alerts about it as a big scam - DR maybe starting to catch up, but they must ask first, otherwise as mentioned it is illegal (how you can prove it, who knows !).
So the lesson is, check your receipts when using CC !
Similar situation in PP
Casa Nelson in PP pulled the same stunt on me a few months ago.
Presented me with a CC bill in US$, with no option for payment in pesos.
When I objected, I had no option but to cancel the purchase.
(What a confusing event that was!)
Haven't been back since.
Casa Nelson in PP pulled the same stunt on me a few months ago.
Presented me with a CC bill in US$, with no option for payment in pesos.
When I objected, I had no option but to cancel the purchase.
(What a confusing event that was!)
Haven't been back since.
He obviously did not do any reading... nor did he bring himself up to speed before interjecting his comment ..everyone is entitled to their .02, but not everyone's comments are based on Facts or real knowledge of how the banking system works to chisel away at your money.
I was rather surprised though at some prev comments , from posters who are even business owners , and they still stated this was like no big deal..... really ? but i guess some people just enjoy taking the other side, without doing any research first ..
I can tell from certain posts here who has worked in the credit card industry, and who has not .. The Merchant discount rate has nothing to do with this scenario..this is a whole new " scam" and yes it is a Scam, no matter who is profiting .. because no one KNOWINGLY and intentionally spends 4% more for the SAME exact goods or services as the person in the same line with them .. Its a very clever way to skim 4% off the top.. even the Street Money Change guys would be Jealous .. they work on tighter margins than that ..
Make sure you have (or qualify) for a Credit Card that carries no foreign transaction fees. Citibank, Chase and B of A all have them for preferred customers
It has been (is?) educational
I was presented with a lunch bill the other in Canada and the machine showed me the price in two currencies -
US & Cdn....
must have known my card was a US card....
I chose the US ... just a reflex choice - I did no calculation or gave no thought to it
Never knew I had a choice
I am wiser now.....
thank you rhanson for starting this !!
I was presented with a lunch bill the other in Canada and the machine showed me the price in two currencies -
US & Cdn....
must have known my card was a US card....
I chose the US ... just a reflex choice - I did no calculation or gave no thought to it
Never knew I had a choice
I am wiser now.....
thank you rhanson for starting this !!
I find it very telling that there has been no response from anyone representing Playero on this thread. The silence has been deafening and it speaks volumes. If the Playero people are following this thread like one of the previous posters who claims to be in the know asserts, then why haven’t they spoken up to either defend themselves or try to explain their credit card policy? And even if the previous poster is wrong and nobody at Playero follows DR1, certainly they would have heard about this thread by now from family or friends. Like I said before, this is a small community and DR1 is widely read. Apparently they realize that this thread will eventually burn itself out, and they have decided to simply wait it out.
I highly doubt that any member of the Valconi family reads DR1,simply because they don't have time,they are some of the hardest working people I know,yes they are a wealthy family but they have earned every peso.
The exchange rate is controlled by the credit card companies. Sending monet to the Dominican Republic using Xoom for example. The weekend rates are different to the weekly rate.. If I need to send money on the weekend. I have no other option. Western Union is a joke with their rates. Money in minutes is a rip off. Best lesson from this thread. Cash is King. Should have said pesos.
American Express, MasterCard and Visa etc. set the ongoing currency exchange rates that credit card/debit card issuers use. The Rates change from minute to minute. A purchase made within minutes of each other can/will be different.
To me "the card IS KING". Inspection of Cambio (cash) and Interbank (Visa) rates on numerous occasions have revealed the rates are very close- either one is sometimes slightly better. I have two cards for travel- both Visa. A debit card from a brokerage, and a credit card from a credit union. BOTH do NOT charge Forex fees (0%), my debit card refunds unlimited ATM withdrawal fees. I have situation awareness (SA) of the DCC scam- When I pay with my card I do so in local currencies so no conversion penalties (4-8%).
Bottom line: a customer who isnt being scammed with a card that doesn't charge forex fees is your best bet. If you can't find one of those, you may be better off a safe amount of exchanging currency at a Cambio.
Additionally, my credit card awards me two points for every dollar spend and four points for every travel-related dollar spend. I pay for my airline's tickets with points. Whats not to like.
Ditto for me. My cards all have no Forex fees, no ATM fees, the prevailing bank exchange rate for the moment on credit card purchases, and free airline travel with the points and bonuses that I accumulate with my credit card purchases. Like you said, what's not to like? The only difference between and me is that I was not aware of the DCC scam. But now I am thanks to this thread, and I can adjust my spending habits accordingly.
I fully agree with you. But let's admit most here will not goo the extra length to make sure they are not taken advantage of on the exchange rates. Then they want to cry about it.
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