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

Kanvi

Bronze Wordsmith
Apr 16, 2018
310
266
80
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

Padawan
Apr 19, 2018
76
48
5
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

Padawan
Jun 21, 2018
36
31
5
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

Bronze Wordsmith
Apr 16, 2018
310
266
80
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.