Oz Consumers Hit By Hidden International Transaction Fees
The ACCC is encouraging consumers to be on the look out for unexpected international transaction fees when buying goods online, as even sites with ‘.com.au’ domains can still charge such fees.
“It is unclear to many consumers whether a retailer processes transactions overseas, so we expect retailers to make this clear to consumers on their websites,” said ACCC Chair Rod Sims.
The ACCC has said that retailers may be engaging in misleading and deceptive conduct if Australian consumers are given the impression that the transaction is processed here, when it is actually processed overseas.
Nike Inc has recently changes its Australian online checkout page so that customers are alerted of the fact that they may be charged an international transaction fee.
“Consumers who have been charged an unexpected international transaction fee for a purchase in Australian dollars from a website that appears Australian-based or has an Australian domain name should query the fee with their bank and report it to the ACCC,” Sims said.
“If you are making regular purchases with overseas businesses, it may be worth considering a credit or debit card with no international transaction fees or asking your bank to block international transactions for certain cards.”