Credit Card Scam in Coz

[mrefer13]

This comes to you from someone who has been "scammed" by one of the shops in Coz. Please either know the conversion of the peso and the US Dollar DON'T believe what they tell you or write on you receipt..It' won't matter.

 

I made a purchase of $200.00 and to insure what the shopkeeper told me the price was, I had him write it on my receipt. Once home, I called to verify my purchase and I was charged $70.00!!!!

 

If anyone would like to know the name and location of the shop, I'd be more than happy to share....The bright side of my story is the amount was only $70.00 What if it was $700.00!!

[dottyparka]

I'm not sure I understand... you thought you were buying $200US worth of items, and were only charged $70US?

[MoreMilesPlease]

I think the OP thought he was buying 200 pesos worth of goods.

 

I'm not sure how the 200 pesos ended up as US$70. Did you not sign a credit card receipt showing the amount of purchase? If you did sign it and it shows 200 pesos then you need to ask the issuing bank how the charges are broken down (exhange rate used and fees). If the merchant charged more than your receipt shows then dispute it with the credit card company.

 

Here is a tip, ANY purchase made outside of the United States or its territories will incur exchange rates and usually an international fee by the credit card company. Even if the charge is put through as US dollars, you will still have an international use fee. This is in most credit card agreements. There are some credit unions that have lower fees for their cards but in general you will pay 3-5% to use your credit card internationally and whatever exchange rate the card issuer uses.

 

Never agree to be charged in US dollars as the exchange rate will be worse than what the credit card will use. Always make sure the credit slip shows the local currency. If it does not then make the merchant redo it in the local currency.

[mrefer13]

Im sorry it's so confusing. The shop owner told me the price was $200. USD, however, the receipt was quoted in Peso's and I did not know how to convert, so I believed him and when he wrote on my receipt $200.00, it was a done deal.

What he did, was to charge me in pesos an amount which was a total of $270.00USD.

 

I sent the original receipt to my credit card company showing where he had written $200.00, but the credit card company said I am liable for the amount of peso's which was $270.00

 

I hope this clears up my story. I just hope that no one else gets ripped off like I did.

[Uncle Doug]

Im sorry it's so confusing. The shop owner told me the price was $200. USD, however, the receipt was quoted in Peso's and I did not know how to convert, so I believed him and when he wrote on my receipt $200.00, it was a done deal.

What he did, was to charge me in pesos an amount which was a total of $270.00USD.

 

I sent the original receipt to my credit card company showing where he had written $200.00, but the credit card company said I am liable for the amount of peso's which was $270.00

 

I hope this clears up my story. I just hope that no one else gets ripped off like I did.

 

That is the main reason we do not use a credit card in Mexico. Heard to many stories of either incorrect price or having card number swiped and bogus charges. Most have a difficult time disputing charges made in a foreign country.

 

In Mexico a quick peso exchange calculation it 10 to 1. 10 pesos to 1 USD. A lot of tee shirt shops will display this rate. Currently the exchange rate is a little higher. It is more of a hassle but you get a better price if paying in pesos.

[MoreMilesPlease]

The main thing about using a credit card is to understand the exchange rate. If you agree to a price in the foreign currency and sign the slip, that is a legal transaction. It is your responsibility to know what you're doing. The kindness of strangers is a nice thought, but sometimes business trumps kindness. An unfortunate fact of life.

 

If I am making a large purchase then a credit card is used. If it's small then I just pay cash. Of course, small and large are open to personal interpretations! LOL

 

I have never had a problem disputing an incorrect foreign charge and we use credit cards all over the world. I have disputed foreign charges the same as US charges. They are under the same agreements as a US merchant. I always save the receipts for several months and disputes have always been resolved by the CC.

 

It is up to the user to understand what they are signing. Saying the merchant told me a different exchange rate does not make the transaction invalid. It means the user did not know what they were signing.

[PH8]

What store was it?:confused:

[GTJ]

The shop owner told me the price was $200. USD, however, the receipt was quoted in Peso's and I did not know how to convert, so I believed him and when he wrote on my receipt $200.00, it was a done deal.

 

The lesson here is that if you do not know the value of money do not engage in a transaction. Do the research before leaving home as to the value of currency in each country you will be visiting and write it down. Learn in advance how to do the simple calculation. Bring a calculator.