What is DCC?
DCC provides foreign cardholders with the choice to pay in their home currency at the point-of-sale (e.g. American customers can pay in US dollars).
What card schemes are supported?
DCC is available only on Visa and Mastercard (including international Maestro).
Are there any charges after the transaction?
The amount quoted at the time of the sale or point-of-sale is the final amount the cardholder will be charged in their home currency.
How do I know that the DCC rate is the best rate?
The Trust Payments DCC service comes with an exchange rate guarantee. This ensures that if the customer receives a better foreign exchange rate on the same day, the difference will be refunded.
What are the benefits to your customers by paying using DCC?
- Improved experience for your international customers, by allowing them to pay in their home currency, avoid international transactions fees from their bank and know exactly how much they are paying.
- International customers will get the reassurance that the amount displayed on your card machine is the same on their bank statement when they get home.
- Competitive exchange rate.
Benefits of DCC to you
- You receive a % of the transaction amount as agreed in your pricing schedule, credited towards your card processing fees.
- Improved experience for your international customers, by allowing them to pay in their home currency.
- Value added service to your customers.
Is this a good rate?
The rate is sourced from Reuters. It is very competitive and comes with an ‘Exchange Rate Guarantee’.
What is the best thing for me to do?
The choice is yours but if you choose to pay in your home currency, you will benefit from full visibility of the cost of your purchase in your home currency using today’s exchange rate.
Is the margin on my receipt an extra charge?
No, this margin replaces the foreign exchange fee charged by your card issuer, and Visa or Mastercard when your card is used internationally.
I have used DCC in the past but was charged by the bank. Is that correct?
Some issuing banks apply additional fees for cross-border transactions, with the level and type of fee varying from one bank to another. The cardholder should request clarification of any additional fees directly from their issuing bank.
What if I change my mind after DCC was applied?
The transaction can be completely reversed/refunded – in the currency of the original sale. If necessary, it can be recharged in the currency of the merchant.
When is it ok for the merchant to make the decision for the customer?
Never. It is essential that the cardholder makes the choice.