16 September 2005
A campaign to stop credit card users from being ripped off when they use their cards abroad has produced results, it has emerged.
The Daily Mail has been tracking restaurants, hotels, shops and car hire firms in Europe that charge in sterling rather than the local currency and make up to 25 per cent profit on the exchange rate.
The newspaper says that Mastercard is changing the rules so that customers don't get charged automatically in sterling.
Mastercard's Brian Moore told Money Mail: "This will force the retailer to offer the customer a choice of currencies.
"Our rules state that you must be given a choice and told what it will cost if you accept the retailer's conversion rate."
But online purchases are often still subject to an imposed exchange rate. A Visa spokesman said: "Online transactions are controlled by the customer. Consumers always have the choice to cancel the purchase if they are not satisfied with the terms and conditions before paying."
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