Dynamic Currency Conversion

Currency exchange in shops abroad - payment in the currency of the country of issuance

DCC (Dynamic Currency Conversion) is a facility offered by Visa within the EU region, enabling cardholders to decide at points of sale if they wish to be debited in euros or in the currency of the country of issuance.

So far, payment by means of a plastic card abroad was always made in the local currency. Later on the amount was translated into the currency in which the Visa card was issued. We can now offer you the choice of paying in the local currency or have the amount translated into the currency of the country of issuance, i.e. Gibraltarian pounds.

If you choose the latter possibility, you should be aware of the following:

  • Check the exchange rate before signing.
  • In most cases, the safe bet is to choose settlement in the local currency.
  • You must be informed about DCC prior to the completion of the transaction.
  • Hand held terminals or ATMs must display the exchange rate and amount in Gibraltarian pounds before you enter your PIN.
  • If you choose settlement in the currency of your Visa card, you must be aware that the shop determines the exchange rate and may charge a currency exchange fee.
  • It is a very good idea to check the exchange rate and to keep an eye on fees. Both must be stated on the slip.
  • Until you sign, you can change your mind and pay in the local currency. If you pay in the local currency, the shop has no influence on the exchange rate.
  • It might be an idea for you to print out an updated list of exchange rates and keep it handy.

Please note that we issue cards in various major currencies mainly to ensure that you can avoid currency exchange fees when using your Visa card.