Even in case you’re nicely educated on foreign transaction fees and how one can keep away from them with a no-foreign-transaction-fee credit card if you journey overseas, a sneaky new Uber function might thwart your fee-free worldwide spending technique.
Uber is rolling out Preferred Currency Pricing in choose areas, together with the U.S., Canada, the UK and the European Union, information that got here to our consideration after one member of the TPG crew acquired an account replace e mail from Uber.
Starting Feb. 27, Uber will cost residents in these areas a 1.5% foreign money conversion payment in the event that they select to pay of their most popular foreign money as a substitute of the native foreign money once they request a experience overseas.
The popular foreign money setting is meant to assist riders know the way a lot they pay once they journey internationally by displaying costs of their dwelling foreign money, fairly than the native foreign money. This will additionally assist alleviate conversion charges charged by some banks and bank card issuers, which may exceed the 1.5% fee charged by Uber.
Associated: Tips to save on overseas ATM withdrawals
After all, in case you pay with a card that doesn’t charge foreign transaction fees, you are primarily giving Uber an additional 1.5% if you request a experience outdoors of your property nation.
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When the function rolls out, Uber will mechanically assign your property foreign money as your most popular foreign money — however you’ll be able to decide out to keep away from this surcharge.
To decide out, open your Uber app and click on “Account.” From there, go to your “Pockets” and click on on “Most well-liked Foreign money.” It ought to default to your property foreign money — however you’ll be able to change the setting to “No most popular foreign money” in case you favor to pay within the native foreign money if you journey. By making “No most popular foreign money” your default, you’ll be able to keep away from the 1.5% surcharge.
Even in case you do not change this setting earlier than you journey, additionally, you will see the choice to decide out of paying in your most popular foreign money at checkout if you ebook a experience overseas. It is best to alter this setting earlier than your subsequent worldwide journey, although, so you do not overlook.
While you’re at it, make certain the cardboard(s) in your Uber pockets are ones that do not cost foreign money conversion charges and that you just hold updated on methods to maximise perks when driving with Uber.
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