Quote:
Originally Posted by HarryT
Foreign currency conversion will ALWAYS incur a fee. Some companies charge an explicit fee; others do so in the form of a less favourable exchange rate. But there will always be a charge one way or the other.
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This particular fee isn't for currency conversion, it's for international transactions regardless of the currency used. Many companies started charging them within the past couple of years. In this particular case, Kobo is a Canadian company doing business in the US, but they process all their transactions through a Canadian bank, hence the fee.
If I'm not mistaken, all Visa transactions have the fee, but whether (or how much of it) is covered by the issuing bank or the customer varies depending on the issuer. Don't know about MC or Amex because I don't use either of those.