steam - getting a cross border fee when purchasing games

[xrapidx]

More precisely it is not vat/tax but conversion rates and or other fees. Even though they charge us in "zar" it is still foreign currency, conversion and "effort" applies. That is why you pay the added 2-5% which normally was done by the banks themselves.

ps. vat is not 2-5% nor is tax. please update loops. see #19

Surely that should have already been taken care of by the banks buy/sell rate for the currency in question?

 

[chrisGolf]

Banks are now charging extra fees for those 'international' purchases

Airbnb, Booking.com, iTunes... More and more of us are using services provided by international companies, and many banks are no longer willing to absorb the extra processing costs.

www.702.co.za

 

[xrapidx]

Investec are changing their fee

What is changing for cross-border card fees?​ •​ The cross-border card fee of 2% will be capped at R100 per transaction.​ ​ ​ ​ •​ Cross-border card fees will only be charged on rand-based transactions where the merchant or cash provider is outside of South Africa.​ ​ ​ ​ •​ We have removed the cross-border card fee for foreign currency card transactions and replaced it with an international currency conversion fee of 2% as explained in the ‘Fees on foreign currency transactions’ section below.​ ​ ​ ​ •​ We have updated how we identify foreign merchant and cash provider transactions that are subject to a cross-border card fee. You can easily identify these on your statement as the transaction descriptor will not end in 'ZA'.​ ​ ​ ​ •​ The cross-border card fee will continue to reflect as a separate entry in your statement.​

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Fees on foreign currency transactions​ ​ Going forward, cross-border card fees for foreign currency card transactions will be replaced with an international currency conversion fee. Where some banks may charge up to 3% for these types of transactions, our fee is highly competitive at just 2% (lower than the previous fee of 2.5%). This fee remains uncapped. You will only see one entry in your statement for each foreign currency card transaction (as you did prior to 10 August 2023).​

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Gonna need a little math to figure out what is better, rand or dollar - suppose it'll depend on the value of the transaction.​

 

[backstreetboy]

Lol Investec. Pay R600 p/m for an account and still get ripped off. Capitec just charges R3 per transaction with midmarket rates.

 

[Herr der Verboten]

Investec are changing their fee

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Gonna need a little math to figure out what is better, rand or dollar - suppose it'll depend on the value of the transaction.​

or just use egifts24?