Neat started charging a "foreign merchant fee"?
It seems that it didn't happen before - the Fees page now has a new item, a "foreign merchant fee". I need to pay 1.5% even if my transaction is in HKD, which I have not experienced before. Usually when the transaction is in HKD, then there is no extra surcharge no matter what.
Can I just know why this fee exists and confirm that this is different from most other cards in Hong Kong, which do not charge extra fees for transactions in HKD?
Also, is this fee charged on top of the foreign currency conversion fee? So the total fee for foreign transactions will be 2% currency fee + 1.5% foreign fee?
@Anton you need to pay this . It is unfair but it is true that many banks charge this . Some banks which are good will waive automatically like HSBC , HANG SENG , CITI . This charge is charged by MASTERCARD .
Thanks, didn't know such fee even existed. It makes sense then.