Uber recently added a default built-in 1.5% fee for international rides and purchases to be charged in U.S. dollar currency instead of the local currency of purchase.
Someone who is paying with a credit card which doesn’t charge foreign transaction fees will do better changing the default feature and saving the 1.5% fee.
It’s easy to change by going in the Uber app to Account > Wallet > Set Preferred Currency. By default you’ll see the ‘United States dollars’ option selected, and you’ll want to change that to the ‘No Preferred Currency’ option, and then ‘Confirm’.
People like dishing on Uber whenever they can; I’ve done so myself for their other misdeeds. With regards to the currency conversion fee, IMO, it’s honestly not a terrible default setting for your average Joe who doesn’t necessarily have a credit card without foreign transaction fees.
Regardless, most of us are careful to use cards without fees when traveling abroad, and would be wise to change the default Uber setting to the ‘No Preferred Currency’ setting.
As others have said, I don’t have that option. This is on Android and I just updated the app. Hopefully it shows up as I’m going to Europe in a few weeks.
To be clear, this function covers U.S./Canada/Eurozone.
Stories like this make me feel great about dropping Uber years ago. So sneaky!
Even for cards with FTF, I think they’d better change it to local currency as well to avoid the 1.5% fee (though still paying the FTF). It’s foreign transaction fee, not foreign currency transaction fee. I had a few times paying in US dollars abroad and got charged FTFs.
My Uber app does not have the Preferred currency option but P2 does have it. I even updated my app and still nothing.
Apparently this change went into effect on Feb. 27, the day I went to Mexico. This explains all the small charges I got for each Uber ride.
My app also doesn’t have the option showing
Yes, I changed from the USA to No Preferred Currency in my Uber app. That was a sneaky of Uber.
Don’t assume there will be no FTF just because it’s in US dollars.
I thought it was common knowledge on DoC that foreign transactions literally means any transactions outside of the USA, i.e. it doesn’t matter what currency a transaction is charged in but rather what country the charge originates from. This is why dynamic currency conversion is literally a scam.
When I ride Uber domestically, the Merchant Country on my statement says “United States.”
Last summer, across Europe, Uber rides posted with the Merchant Country as “Netherlands.” (I was in other countries, fwiw.)
Now, it’s possible that Uber could switch processing to come from the United States when you opt for being charged in US dollars, but my speculation is that it would have taken some extra work to implement that, and they don’t give a flying fuck.
But let’s wait for datapoints.
No option to set preffered currency on my Uber app? Does it show up outside the US?
Look in Wallet, not settings
Nothing in Wallet in Uber app
I dont have an option to “Set Preferred ” in my UBER app!
Are you sure no FTF when using ‘Preferred Currency’ on Uber? DCC to US Dollars at a foreign point of sale still incurs FTFs.
Correct. Transacting in a foreign country incurs FTF regardless of currency at issue. There is no scenario where this benefits the consumer.