The amounts I am being billed on my Silver DiscoveryCard for overseas transactions are loaded with an extra fee.
I am aware of how it should be calculated, but this is not the case...
Amount x exchange rate at time of transaction x conversion fee.
Example: 660.86 pounds x 15.95 x 2, 75% = R10830.59
However, it seems DiscoveryCard is loading extra costs on top of this amount and charged me: R11, 122.16
That leaves a difference of R291.57 charged more.
I have sent numerous emails, phoned several times and nobody is able to tell me HOW these amounts were calculated. There are multiple of these. They keep referring me to FNB Forex and then Forex does not reply.
I even contacted 2overseas vendors - they took a while to respond and categorically stated they do not charge extra - they only charged the amount as per my invoice and said it must be at my bank!!
2.) I also have an ABSA MasterCard to compare- I just purchased something in London today and was charged EXACTLY: Amount x exchange rate x conversion fee. No more. No less.
3.) Even Emails sent to [Email Removed] is unanswered.
Please can somebody explain how these intl. amounts are calculated on my DiscoveryCard
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