Is overcharging a Standard Op Procedure?

[carlosbelmonte 0]

Hello, I am completely new to this world and would appreciate some guidance.

After seeing a Youtube comparison of the 2018 Seamaster 300m, I couldn't resist and bought it from one of the TDs. This was my first purchase ever.

It was a VSF V2 with SS bracelet and he gave me an invoice for US$ 383 that I paid with Visa.

But, my bank immediately informed me that I had been charged $ 409.11.

The TD told me the extra was bank and currency exchange fees. I did not bother to argue because the rep is lovely and I wanted it.

But, is this normal? Should I expect hidden costs from every purchase?

Thank your for any advice.

[tribefan 6,768]

Standard operating procedure is to know what your bank is going to charge you for a transaction as well as understand the costs of all payment options. There is a reason some TD's won't take CC's or paypal.

[FudgyDocker 3,499]

Chinese credit card agency fees added on top. Standard procedure, yes. Credit card is such a noob way to pay. You'll only do it once, if you have any sense!

Try WU or Transferwise next time. Much, much cheaper.

[BadPickle 2,741]

5 minutes ago, FudgyDocker said:

Try WU or Transferwise next time. Much, much cheaper.

Maybe so, but impossible to do a charge back when it’s turns out to be a fake  

[carlosbelmonte 0]

23 hours ago, tribefan said:

Standard operating procedure is to know what your bank is going to charge you for a transaction as well as understand the costs of all payment options. There is a reason some TD's won't take CC's or paypal.

Thanks for the reply. I know what my bank charges for overseas transactions, but this was not included in the sum. That is what was paid to the TD. This is the first time for me in any international transaction where the invoice sum was not the same as the credit card charge, which is why I asked. Normally, the 3 or 5% or whatever that goes to credit card companies is included in the total sum, not added later after payment.

[BadApple 13,081]

You have been told the reason by Fudgy Docker. Are you listening or just choosing not to take the answer as fact? Here we go for the avoidance of doubt.

CHINESE CREDIT CARD AGENCY FEES

[carlosbelmonte 0]

Thanks for your kind and gentle reminder. I did not listen, but I did read the informative reply by that poster. Having understood what I read, I nevertheless wanted to point out that this has never previously happened to me in my many years buying directly in China, Hong Kong, Singapour, etc. And a very nice day to you too! Thanks to all for the welcome to the forum.

[deju 1,870]

Probably best to move towards WU payments (only ever with TD’s). When you build up a relationship they may offer to take PayPal. But ask about fee’s (usually 5%) 

[FudgyDocker 3,499]

1 hour ago, carlosbelmonte said:

this has never previously happened to me in my many years buying directly in China

Have you ever purchased illegal fake goods from a Chinese criminal before, that can't get Merchant Services from a bank because they have to declare their business in order to be allowed card services?

In order to process direct card payments, they have to use a 3rd party card processor. Those guys don't do stuff for free. 

[thejudge 29]

Its worth noting as well some TD's will offer some money off codes normally  $10-15 per watch for those who register with their newsletters which normally helps to negate any fees.