Overcharged on my credit card from Cozumel shop

[ksuds]

I always use my credit cards while in a foreign port whenever possible. I have always trusted that I was being charged correct. My mistake.

 

For some reason I decided to review my credit card charges on line yesterday. During two recent trips to Cozumel, I bought something from one of the shops (same shop both times). For a 65.00 purchase the vendor charged me 9.00 and change more. For a 220.00 purchase he charged me 18.00 and change more.

 

I'm not sure if he did this in error as I told him I would be back in Cozumel every week during December. But he wrote on my receipt the US price both times. Now I'm having to go back and straighten this out.

 

I've now learned to calculate the convertion myself before the purchase is final.

 

Has anyone else found this to be an issue? Besides cash, do you find the only way to make sure your charged correct is calculating it yourself. I'm lucky I can go back to get this fixed (hopefully). But if I wasn't, I'm not sure if my credit card would dispute the transaction or not.

[Tyler80]

Are the extra charges foreign transaction fees? If you have extra charges from a foreign transaction that you think is in error, you can always call your credit card company to try and figure out what the problem is. Also you can dispute the charge and have it removed from your bill.

[ksuds]

Are the extra charges foreign transaction fees? If you have extra charges from a foreign transaction that you think is in error, you can always call your credit card company to try and figure out what the problem is. Also you can dispute the charge and have it removed from your bill.

 

 

No the foreign transaction fees show up as a separate line item on my bill. Since I will be back there in a couple days I am going to give the shop the opportunity to correct it. If he doesn't I will contact my credit card company.

[CaribeDiver]

Did he write the US price on your receipt but charge you in pesos? Could it be the conversion rate?

[ksuds]

Yes, the receipt shows it was charged in Pesos and he hand wrote under it what the US dollar amount is. My thoughts are that it was just an error in calculating the conversion rate. But I negotiated the price in US dollar.

[serene56]

Could it be a credit card transaction fee? some vendors in cozumel will charge this as that is what the CC charge them

[CaribeDiver]

Yes, the receipt shows it was charged in Pesos and he hand wrote under it what the US dollar amount is. My thoughts are that it was just an error in calculating the conversion rate. But I negotiated the price in US dollar.

 

Keep in mind sometimes the pesos/dollar you are quoted in MX is going to be different when you CC converts to US exchange rates.

[cruisinfanatic]

This is an example as to why I never take my credit card out of my wallet in a foreign port.

[Jeano222]

I had a worse experience a few years ago, I used my Visa/Debit card and they charged correctly to my card for purchase but 3 weeks later, my bank account was stripped for over 5,000.00, from a person in Cozumel. The bank contacted us and they took care of it, but I never charged anything using a credit card again, while in any foreign country.

[P&C4/16/67]

I remember something similar happening a few years ago when DH booked a hotel in St. Martin. We were charged in Euros. He looked up the current rates and figured about $1950 or so. He was curious as to how much the AMEX charge would be so called AMEX. They told him there was a pending charge of $1940 plus 2.75% transaction fee. Turns out that was smart to do cause when the charge posted, it was about $50 more which also raised the amount of the transaction fee. He called AMEX back and said he was told by them that the charge was $1940. They credited back the overcharges. DH researched this and found that CC companies can charge the highest conversion rate listed between the time of approval and it being posted to the account. Call and ask your CC company what exchange rate they used. They would also be able to tell you how many pesos were billed.

 

Phyl

[janetz]

This is an example as to why I never take my credit card out of my wallet in a foreign port.

 

 

Ditto.. :)

[TBone2K]

When it comes to foreign ports cash is king, but buying something more expensive I'd rather use my credit card than a debit card. Then at least if I get scammed, they don't tie up my bank account. Those without credit cards could buy one of those prepaid ones, but check for restrictions on foreign use.

 

If you are using US collars and the goods are priced in local currency, have a good idea of the exchange rate as well, since the vendors may tend to work it out in their favour.

[pcur]

It looks like the store charged you a $9 fee (roughly) per $100 you put on your credit card. Sounds like a transaction fee to me. Looks like they round off to the nearest $100, so $65 would round up to $100, and $220 would round down to $200.

[sr4mjc]

Yes, the receipt shows it was charged in Pesos and he hand wrote under it what the US dollar amount is. My thoughts are that it was just an error in calculating the conversion rate. But I negotiated the price in US dollar.

 

Same thing just happened to me for a pair of boots I haggled for. They crossed out the pesos, wrote in the USD but that's not what I was charged. Calling the credit card company today to see what I can do. This card had NO foreign transaction fees.

[malakie]

This happened to us in October in Cozumel with a jet ski rental company at Paradise Beach. He gave us a $10 discount per jet ski = $20.00 total. The guy also wrote the US dollar amount on the receipt. When I looked at my AMX charges when we got home no discount. Yes it was only $20.00 but it was the point of it. I called AMX to dispute the charge but since it was a low amount they just gave me the $20.00 credit on my account so I didn't pay it but the company in Cozumel still received the full amount. I don't know if it was a mistake or the guy figured he would tell us a discount and charge full price. We do travel to Cozumel a lot and will be there again on the Jewell this month. If we go to Paradise Beach I will let this guy know of his mistake.

[CruisinGerman]

Given the amounts you are mentioning, I think what is happening here is that in your mind you are merely calculating the standard peso-dollar conversion rate you read in the newspaper or on-line.

 

Your actual charge probably reflects a more profitable exchange rate in favor of all of the banks involved -- the Mexican bank processing the credit card transaction, and your bank doing the conversion back to dollars.

 

Kind regards,

 

Gunther and Uta

[CruisinGerman]

Unless the merchant has a processing arrangement with a bank in Panama or the United States, the charge will go through in pesos, not dollars, no matter what the merchant "crosses out". What counts is the ticket that comes out of the dataphone machine -- don't you folks look at that ticket when you buy something?

 

Kind regards,

 

Gunther and Uta

[ksuds]

Unless the merchant has a processing arrangement with a bank in Panama or the United States, the charge will go through in pesos, not dollars, no matter what the merchant "crosses out". What counts is the ticket that comes out of the dataphone machine -- don't you folks look at that ticket when you buy something?

 

Kind regards,

 

Gunther and Uta

 

 

I think the problem with a couple of us is that we can look at the ticket all day long, but it is in Pesos. So to your respond to your comment, yes I did look at the ticket.....along with the 8 other people I was with. Not sure by your comment what else we are supposed to do.

 

My thought being is that I negotiated a flat rate, and it came over different. I wasn't sure if the issue was with the vendor or the credit card company.

 

I have already called my credit card company and I once they receive my receipts they are more than willing to assist me. I will also be back in Cozumel in a couple days to see the vendor in case the issue isn't resolved yet. I have already purchased from him twice and brought him other customers.

[Dayenu]

I think the problem with a couple of us is that we can look at the ticket all day long, but it is in Pesos. So to your respond to your comment, yes I did look at the ticket.....along with the 8 other people I was with. Not sure by your comment what else we are supposed to do.

 

If the charge is in Pesos, the bank does the conversion at the rate of that day. Different banks have different rates, and they are usually different from the advertised rate of conversion.

[sr4mjc]

Unless the merchant has a processing arrangement with a bank in Panama or the United States, the charge will go through in pesos, not dollars, no matter what the merchant "crosses out". What counts is the ticket that comes out of the dataphone machine -- don't you folks look at that ticket when you buy something?

 

Kind regards,

 

Gunther and Uta

 

Yes, the amount in pesos is crossed out. There's no way to know if the amount of pesos they charged is going to equate to the negotiated price in USD. I opened a dispute with Chase and they will work to get the difference back from the shop owner.