QUESTION Do you settle your credit card in local or native currency when traveling?

[Kanvi]

When you travel and you are prompted on the POS (Point of sale) to settle the amount at say a restaurant, what do you choose? Do you choose the local or your native currency? I'm wondering as I can never figure out which one is best. I know the the settling bank obviously tries to make money on this, but so does your own bank so which one is the cheapest?

 

[CaptainE]

Sadly I’ve never left my home country, so haven’t had this problem. But I think I would always just settle in the native currency and then get the bank rate from my bank when they convert. If you do the POS rate it’s like another middle man.

 

[Tiada]

I wonder if I can choose between the local currency or native currency when I am outside the country. I always think the payment is settled in local currency , and I will repay the amount in my native currency when my credit card statement arrive my door step the following month. And, the bank makes profit from the difference between both currencies.

 

[Kanvi]

I wonder if I can choose between the local currency or native currency when I am outside the country. I always think the payment is settled in local currency , and I will repay the amount in my native currency when my credit card statement arrive my door step the following month. And, the bank makes profit from the difference between both currencies.

Most POS systems offers this when it detects a foreign credit card.