Travelers Lose Millions by Choosing Dollars Over Local Currency on Foreign Card Payments
How 2 Israeli newsrooms covered this story — translated into English and compared side by side.
First reported by Mako · 8 hours ago
What happened
Israeli travelers often lose money by choosing to pay in dollars or euros instead of local currency on foreign credit card terminals, triggering costly currency conversion fees. The digital bank ONE ZERO found thousands of customers unknowingly forfeited zero foreign currency fee benefits, resulting in millions of shekels lost. Experts advise always selecting the local currency to avoid these hidden charges.
- 01Israeli travelers often pay in dollars or euros abroad, triggering costly currency conversion fees.
- 02Dynamic Currency Conversion (DCC) lets merchants convert payments at inflated rates before credit card processing.
- 03This practice bypasses zero foreign currency fee benefits offered by many Israeli credit cards.
- 04ONE ZERO bank found millions of shekels lost by thousands of customers in six months due to this error.
- 05Travelers should always choose to pay in the local currency to avoid hidden fees and unfavorable exchange rates.
- 06Examples include paying in zloty in Poland, koruna in Czechia, baht in Thailand, and pounds in the UK.
Summary translated & synthesized from the sources below by baba. Read each original for the full report.
Full coverage · 2 outlets
The same event, reported separately by each newsroom. Open a few to compare what each emphasizes — and what they leave out.
