Dinamic Coruia
Dynamic currency conversion (DCC) is like having a special calculator that helps you figure out how much money you need to pay when you go shopping in a different country. It's like a translator for money.
Let's say you're on vacation in France and you want to buy a toy. The price on the toy is in euros, which is the money they use in France. But you come from the United States and you have dollars. So, to figure out how much money you need to pay, the store might offer you the option of using DCC.
The special calculator, or DCC, will help you figure out how much the toy costs in dollars. It does this by looking up the exchange rate between euros and dollars at that moment. The exchange rate is like the price of one currency in another. It changes all the time, just like the price of a toy might change from day to day.
Once the DCC figures out how much the toy costs in dollars, it will tell you the total in dollars so you can decide if you want to pay in euros or dollars. If you choose to pay in dollars, the store will charge your credit card in dollars and convert the euros to dollars for you.
But here's the catch: because the store is doing the conversion for you, they might add a little extra onto the price to make some money for themselves. This is called a conversion fee. So, it's important to check the conversion rate and the conversion fee before you decide whether to use DCC or pay in euros.
In simpler terms, dynamic currency conversion is a tool that helps you understand how much money you need to pay for things when you're in a different country, but it might cost you more because the store might add a fee to convert the money for you.
Let's say you're on vacation in France and you want to buy a toy. The price on the toy is in euros, which is the money they use in France. But you come from the United States and you have dollars. So, to figure out how much money you need to pay, the store might offer you the option of using DCC.
The special calculator, or DCC, will help you figure out how much the toy costs in dollars. It does this by looking up the exchange rate between euros and dollars at that moment. The exchange rate is like the price of one currency in another. It changes all the time, just like the price of a toy might change from day to day.
Once the DCC figures out how much the toy costs in dollars, it will tell you the total in dollars so you can decide if you want to pay in euros or dollars. If you choose to pay in dollars, the store will charge your credit card in dollars and convert the euros to dollars for you.
But here's the catch: because the store is doing the conversion for you, they might add a little extra onto the price to make some money for themselves. This is called a conversion fee. So, it's important to check the conversion rate and the conversion fee before you decide whether to use DCC or pay in euros.
In simpler terms, dynamic currency conversion is a tool that helps you understand how much money you need to pay for things when you're in a different country, but it might cost you more because the store might add a fee to convert the money for you.