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Bali has always been a popular travel destination for Taiwanese tourists, and recently more visitors have discovered that using credit cards is also a convenient option locally. However, some tourists found themselves paying 5% more than expected when settling their bills with credit cards! Why does this happen? It might be because they fell into the ‘DCC (Dynamic Currency Conversion)’ trap!
When you use your credit card in Bali, if asked which currency to pay in, always choose to pay in Indonesian Rupiah (pay with Rupiah), and never opt for Taiwanese dollars. Because ‘Dynamic Currency Conversion’ offers cardholders the choice to settle in either the local currency or the card-issuing country’s currency, many mistakenly believe that choosing to pay in Taiwanese dollars is more economical. However, upon returning to Taiwan, they find the exchange rate quite unfavorable, especially when spending large amounts or shopping at department stores.
Choosing to settle in the card-issuing country’s currency, although it will be settled immediately at the day’s exchange rate, includes an additional service fee during the currency conversion (not the 1.5% overseas credit card transaction fee). Therefore, tourists heading to Bali must always choose to pay in the local currency when using credit cards.
Many experienced tourists have also shared their experiences, including booking accommodations online, unanimously recommending that all foreign expenses should be settled in the local currency to avoid unnecessary losses.
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