JPMorgan Chase Credit Card Complaint

JPMorgan Chase Credit card department,

Other fee Rhode Island

I just returned from almost 2 weeks ' travel in -. The practice is now common for handheld POS devices accepting - ( U.S. ) credit cards to offer to charge the card in - dollars or local currency. But the terms state a usurious exchange rate for the consumer who chooses U.S. dollars. Also, the ability to decline the exchange and use local currency is often not clear from the instructions : either the instructions confuse " decline '' the exchange rate with " decline '' the transaction, or they ask for multiple ambiguous verifications before allowing the consumer to decline the exchange rate. That said, the worst problem is this : The merchants often maintain physical hold of the POS device, even out of sight of the consumer, as at a restaurant, and the merchant ( unwittingly ) accepts the usurious exchange rate on the consumer 's behalf, thinking he or she is doing the customer a favor by employing the customer 's home currency. This practice on the part of the banks is abhorrent and allows them to reintroduce hidden foreign transaction fees through the back door. When the merchant consents to the usurious exchange rate, that is not my consent, but I have no ability to combat it. I have receipts from this trip to demonstrate money lost because of non-consensual currency exchanges. But I have no recourse against my own credit card bank, because it is not responsible for the device software. I have no recourse against the credit service provider ( e.g., - ), because I am not in privity with the provider. Only CFPB action can put an end to this practice.