(Nexstar) – Heads-up, Uber rider. Unless you disable it, new settings in the app may cost you the next time you ride abroad.
This feature, known as Preferred Currency Pricing, allows you to pay at home while traveling abroad. What that means is that Americans traveling around Europe are listed in the US dollar rather than the euro. In Mexico, you’ll see the price of the dollar rather than the peso.
The new pricing options allow riders to easily know how much they are paying when they’re abroad, Uber says.
There is no problem with face value, but catches are subject to conditions. There is a fixed 1.5% conversion fee that applies automatically.
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If your credit card does not have a foreign transaction fee (and not many people), there is no reason to pay that 1.5% fee. Have your credit card do currency conversion, advise travel experts and point man founder Brian Kelly with videos on topics. In most cases, it doesn’t cost you any extra.
“The only way this makes sense is if you have a credit card that charges a 3% foreign transaction fee. In this case, it makes sense to choose 1.5% through Uber. But most of the time Credit cards do not charge foreign transactions. If you are unsure of the fees, check your card now.
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How do I turn off new Uber currency conversions?
We recommend that you disable the pricing of your preferred currency as your credit card or other payment linked to your Uber account does not charge foreign transaction fees or confirm your credit card or other payments below 1.5%. Masu.
To do so, to open the app, you can tap Account and then Wallet. Scroll down the page until you find the “Preferred Currency” section.
Tap to select “No Preferred Currency” and select “Confirm.”
