These charges are typical and obvious when traveling abroad, but they are also applied to purchases made online from a foreign vendor that operates in a foreign currency, as well. International transaction fees are charges applied by credit card companies to you, the consumer, when your credit card is used to make a purchase in a foreign currency. Have you ever purchased a crepe in Cannes or a gelato in Genoa and wondered why you received a bill for much more than the total cost of the tasty treat on your credit card statement? Then you, friends, have met our old nemesis: international transaction fees. That sneaky expense comes in the form of international transaction fees, and depending on the price of the item being purchased, they can be utterly staggering without your even realising. But what if you could recreate that same experience online?Ĭredit cards offer convenience and familiarity, but they do so at a steep cost. If you’ve splurged and bought yourself a trip abroad, go ahead and pay that shopkeeper in cash! It’s still tough to beat the simplicity of a hand-to-hand paper transaction.

Today, shoppers have lots of options when it comes to paying for foreign goods. Things to Consider When Buying Online in a Foreign Currency We take a look at what savvy online consumers need to know, and need to look out for, when buying online in a foreign currency. With a reliable way to pay for international goods in a different foreign currency, a literal world of possibilities opens up to shoppers, especially those purchasing luxury goods. Well, that and the ability to pay for them. Regional availability is being replaced with on-demand accessibility, and the only thing standing between buyers and their favorite international treasures is a trusty modem. With a click of a button, shoppers from the United States, the United Kingdom, or Australia can connect with retailers and artisans in Japan, India, or Egypt and purchase the goods and services they love. The internet is the world’s new bazaar, the new digital high street marketplace. Track your transfer with OFX mobile app.Collect the necessary banking information from your recipient, including their name and bank account number.

Online foreign currency