Chile Forum

no the claim is that the visa / master card added a fee along with additional in house fees of many banks tacked on a hidden fee that was never disclosed in the credit card agreements or appeared on statements. Unless you did the careful math, and where aware of the exact exchange rates at the time you used it, you would not detect the 1% to 3% additional charge when you used a credit card in another country.

If you look at all the fees on your statement, chances are you that small 1% would get lost in the shuffle of all the complex accounting they add to obscure the charges on any credit card statement.

with this settlement, they don't have to quit doing it. They just have to disclose it in the fine print. You know. That agreement that an army of professors of laws could never read with an electron microscope.

I am just glad that ATMs in Chile do not charge the $1+ local fee, in addition to the ATM fee that most banks charge. I can never remember seeing an ATM fee show on any my statements when used in Chile.