Traveling abroad? Don’t be tempted to pay your way using your home currency

Editor’s Note: The views expressed in this commentary are solely those of the writer. When a restaurant bill arrives for example, foreign customers may be offered the choice on the card reader to pay in their home currency rather than the local one. The companies which provide dynamic currency conversion options earn significant conversion revenues – a portion of which is often shared with the business where the transaction takes place. PeopleImages/iStockphoto/Getty Images Greater transparency And despite the high conversion fees involved with dynamic currency conversion, most government regulators around the world have been hesitant to intervene. So if you’re on holiday or traveling for work, our advice is to decline the option of paying in your home currency and instead opt for the more reasonable conversion fees charged by your bank.