I pulled money out of the wall in France and rejected DCC to ensure my bank does the conversion. The ATM had a dysfunctional receipt printer, and (unlike other ATMs) the ATM was not smart enough to mention the broken printer before the withdrawal.
Then the bank statement in the US only showed the USD amount, not the euros. Seems a bit off because I think when ATMs do a conversion they are obligated to show both currencies and the conversion rate. Why would the same transparency not be required when banks do the conversion? IIUC, the law seems to be here:
https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-205/section-205.9
And indeed I see no mention of foreign currency in the disclosure requirements.
#askFedi #lawFedi