Payment on Booking .com

[Former member 92300]

Gosh - I wish I had thought to ask this question ages ago instead of after 1 "backpacking Europe" trip, 2 completed Caminos and a completely pre-booking Via Francigena via direct websites, emails, booking .com and airbnb!

When you are booking on the booking .com or other booking websites - do you keep the currency your home currency? Or do you change it to local currency? I know when we withdraw money from ATM's we should select local currency and let our banks do the currency exchange instead of the ATM. But what about when booking accommodations online? I ask because I just downloaded a trip budget recording app and I entered all accommodation fees in the local currency - but when the app converted to USD - it shows I paid more that I actually did and is obviously using a different currency conversion number than the booking .com. Which made me realize - I have never looked into whether I should be changing the currency before booking.

Has anyone compared booking in your home currency versus local currency on booking .com. Did booking .com charge more for the conversion if you booked in your home currency? I mean - easier to list in my home currency because my brain knows exactly what I am paying in USD that way - but am I losing a little money doing it that way? Like you do at the ATMs?

Too late for my current upcoming trip - but probably should get this figured out before my next trip! (Ugh... REALLY can't believe I never asked or researched this before!)


EDITED to add
Perhaps clarification is needed regarding my question: I know booking .com and airbnb post the USD and Euro prices, I am wondering if the exchange rate is different depending on which you select.

At the ATM, we usually know the ATM exchange rate is usually worse if you select USD rather than Euros (in which case your bank does the exchange rate) - so I am wondering if the same is true with booking websites. Does booking.com use a higher exchange if you book accommodation in Europe and select USD as your currency?

 

[J Willhaus]

I book with euros. The bank will convert it.

 

[AnneO]

I use my home currency when I am looking for places because that is the easiest reference for me. But you are charged in the local currency so the actual conversion might be different based on whatever the bank exchange rate is on the day the charge is made. At least that is how I understand it.

 

[JCLima]

You will always be charged in the local currency, it doesn't matter what you select on your browser/app

 

[Molly Cassidy]

I usually opt to pay when I arrive and hand over cash.

 

[Former member 107885]

You will always be charged in the local currency, it doesn't matter what you select on your browser/app

Funny enough I have been a full time traveller for the last 3 years and probably stay in booking.com properties 200 nights a year, typically 2 or 3 nights at the lower end of the market and have never really considered this so it jarred me into action! I am all over ATM fees and conversions, so you have me thinking!

How about this.

So I have booked a surprise present for my partner to the US open is NYC. I have booked 3 nights in a Manhattan hotel. The price was quoted in pounds at a value of £407.68. I was happy to sleep rough at Port Authority, or get a Greyhound bus to Philadelphia and back but she won’t feel valued. Booked it and got the usual info that I will pay in local currency on the day. That is quoted as USD 508.09. That is fixed and won’t change. So when I booked the XE 1.246. So if GBP get stronger I get it for less than the quoted GBP and vice versa.

Having typed all this out, and reflected, I don’t think it makes any difference at all and you can’t do anything to effect this but I will leave it up anyway! Am I missing anything? I don’t think so but my bookings are very low value so would hardly notice even a 1-2% currency effect!

Funny enough sometimes I seem to be quoted in GBP (my home currency) and sometime in local currency without changing my setting! No idea why!

 

[NicP]

At least where I am in the world, as I understand it, your bank will generally get a more favourable rate than the company you are booking with / buying from, so I always choose the local currency and let my bank convert it. It has worked well!

 

[Kathar1na]

Isn't all the necessary information displayed when you make a reservation on Booking.com? For example, I chose to display the prices for SJPP in US $ and started to make a reservation. Before I finalised the reservation I saw this information:

• This price is converted to show you the approximate cost in US$. You'll pay in €. The exchange rate may change before you pay.

The last sentence is obvious. When I make a reservation today for a stay in four weeks, nobody knows what the exchange rate for € to $ will be. What matters is that the price given in € does not change between now and then.

In many cases, you pay at the hotel. You provide your credit card details only as a guarantee on Booking.com but it will not be charged. When you actually pay by credit card at the hotel or gîte or albergue you may perhaps be offered what is known as Dynamic Currency Conversion - you obviously don't want this and say no thank you.

 

[Former member 107885]

Isn't all the necessary information displayed when you make a reservation on Booking.com? For example, I chose to display the prices for SJPP in US $ and started to make a reservation. Before I finalised the reservation I saw this information:

• This price is converted to show you the approximate cost in US$. You'll pay in €. The exchange rate may change before you pay.

The last sentence is obvious. When I make a reservation today for a stay in four weeks, nobody knows what the exchange rate for € to $ will be. What matters is that the price given in € does not change between now and then.

In many cases, you pay at the hotel. You provide your credit card details only as a guarantee on Booking.com but it will not be charged. When you actually pay by credit card at the hotel or gîte or albergue you may perhaps be offered what is known as Dynamic Currency Conversion - you obviously don't want this and say no thank you.

That sounds 100% correct! Thank you for putting it succinctly!

 

[Molly Cassidy]

The only issue I've ever had is that sometimes they do the conversions in reverse after you've booked. This means that sometimes they will show the wrong price in local currency, but when you actually pay it's always the same price as quoted in local currency when you booked.

 

[Former member 92300]

I usually opt to pay when I arrive and hand over cash.

Yes - I do that when I can.

 

[Former member 107885]

Yes - I do that when I can.

My brains a bit frazzled but I guess that depends on his the XE fluctuation and can go either way. I guess for our level of spend it’s largely immaterial!

 

[Former member 92300]

Isn't all the necessary information displayed when you make a reservation on Booking.com? For example, I chose to display the prices for SJPP in US $ and started to make a reservation. Before I finalised the reservation I saw this information:

• This price is converted to show you the approximate cost in US$. You'll pay in €. The exchange rate may change before you pay.

The last sentence is obvious. When I make a reservation today for a stay in four weeks, nobody knows what the exchange rate for € to $ will be. What matters is that the price given in € does not change between now and then.

In many cases, you pay at the hotel. You provide your credit card details only as a guarantee on Booking.com but it will not be charged. When you actually pay by credit card at the hotel or gîte or albergue you may perhaps be offered what is known as Dynamic Currency Conversion - you obviously don't want this and say no thank you.

Yes - it is listed when you make the reservation (and I know the exchange rates fluctuate) - but has anyone figured out if it is better to pay in Euros (local currency) vs USD (my home currency) when you book/pay online?

At the ATM, we usually know the ATM exchange rate is usually worse than your bank doing the exchange rate - so I am wondering if the same is true with booking websites. Does booking.com use a higher exchange if you book accommodation in Europe and select USD as your currency?

Unfortunately - all my reservations are booked - so I can't just compare with my upcoming bookings.

And - yes - you often pay in cash at the albergues in Spain. I am doing the Via Francigena this summer and that isn't the case most of the time.

 

[Former member 92300]

My brains a bit frazzled but I guess that depends on his the XE fluctuation and can go either way. I guess for our level of spend it’s largely immaterial!

Perhaps for the Camino - but I am doing the Via Francigena this summer - so the cost is considerably higher than the Camino and if the exchange rate is higher for selecting payment in USD - then I need to know that.

 

[Former member 107885]

Yes - it is listed when you make the reservation (and I know the exchange rates fluctuate) - but has anyone figured out if it is better to pay in Euros (local currency) vs USD (my home currency) when you book/pay online?

At the ATM, we usually know the ATM exchange rate is usually worse than your bank doing the exchange rate - so I am wondering if the same is true with booking websites. Does booking.com use a higher exchange if you book accommodation in Europe and select USD as your currency?

Unfortunately - all my reservations are booked - so I can't just compare with my upcoming bookings.

And - yes - you often pay in cash at the albergues in Spain. I am doing the Via Francigena this summer and that isn't the case most of the time.

Do you get the option to choose which currency! I think you just get the rate of the hotel countrys’ currency (say euros) pay thst and it’s converted at the bank rate immediately.

I have just checked a booking for Leipzig. It’s billed at €109.97 and it’s converted to GBP by my bank at the days rate! Good news.

 

[Former member 107885]

Perhaps for the Camino - but I am doing the Via Francigena this summer - so the cost is considerably higher than the Camino and if the exchange rate is higher for selecting payment in USD - then I need to know that.

Sure. I am playing around with my settings getting a hotel quote in GBP, EUR and USD as I think it doesn’t make any significant difference but I need to do more checking!

So hotel I am looking at is quoting

GBP 299
EUR 338
USD 373

Bit I would pay in USD so doesn’t matter????

 

[Former member 92300]

Do you get the option to choose which currency! I think you just get the rate of the hotel countrys’ currency (say euros) pay thst and it’s converted at the bank rate immediately.

I have just checked a booking for Leipzig. It’s billed at €109.97 and it’s converted to GBP by my bank at the days rate! Good news.

You can change currency at the top of their page.

 

[JCLima]

You can change currency at the top of their page.

That does not impact the currency you pay in

 

[Former member 107885]

That does not impact the currency you pay in

I think that’s right. I think there is no material
benefit as to which currency you get quoted in and book in… you pay in local currency at the rate on the day. It’s late here so will re look in morning as have a RENFE train journey to pass the time!

 

[trecile]

but has anyone figured out if it is better to pay in Euros (local currency) vs USD (my home currency) when you book/pay online?

I can answer that question - Just yesterday I booked a place in Santiago online (through the property's website, not booking.com)
Before I paid it asked me if I wanted to pay in USD or Euros, and it gave me the price of $130 if I chose USD. I chose Euros, and when the payment went through I got a notification from my bank that I had been charged $121 - so I saved $9 by choosing Euros.

 

[Kathar1na]

To avoid misunderstandings, the following refers only to financial transactions/payments made on Booking.com and to establishments in the EU: prices displayed in £, $, or any other currency are only for your information; before you finalise your booking you see a notice (see above) that tells you that the payment will be in € which will happen for example in the case when the free cancellation period has ended. It will not be automatically made in $ (this would be the DCC option mentioned earlier).

In general, outside of automatic online payment (not just confirmation) on Booking.com, if your card is issued by a US bank/$ based and you make an actual payment/charge to your account and not just a reservation, be it online or at an ATM or at a point of sales device in a shop and you are not given a choice between € and $, the financial transaction is made in €. If you are given a choice between € and $ (the DCC option), always choose €.

I think this is safe to say:

• When there is no choice, payment is in €.
• When there is a choice between € and your home currency, never opt for the payment or withdrawal to be made in your home currency.

 

[Molly Cassidy]

There is also an option to always see prices in local currency, so you always see the exact price you will pay. This is the setting I use. However, Booking.com has a habit of changing settings without asking, so you may have to go back and set it the way you like.

 

[Former member 92300]

I can answer that question - Just yesterday I booked a place in Santiago online (through the property's website, not booking.com)
Before I paid it asked me if I wanted to pay in USD or Euros, and it gave me the price of $130 if I chose USD. I chose Euros, and when the payment went through I got a notification from my bank that I had been charged $121 - so I saved $9 by choosing Euros.

Thank you! You obviously understand what I am asking, even if I am not clearly articulating the question. Yes - when property/business websites ask - I do select "Euros". Still not sure about booking .com - but it would make sense that it would be the same!

I do like making direct bookings - but when you are reserving different places day or after day for several weeks - it is just so darn convenient to use 1 or 2 booking sites! Most of my bookings for the VF are through either booking or airbnb. I do have some direct reservations - but organizationally speaking - it is a pain in the rear on a trip like this!

 

[trecile]

However, Booking.com has a habit of changing settings without asking, so you may have to go back and set it the way you like.

Yes, it's constantly changing the language between English and Spanish for me.

Thank you! You obviously understand what I am asking, even if I am not clearly articulating the question. Yes - when property/business websites ask - I do select "Euros". Still not sure about booking .com - but it would make sense that it would be the same!

Yes, always select the currency of the property where you are booking.

I do like making direct bookings - but when you are reserving different places day or after day for several weeks - it is just so darn convenient to use 1 or 2 booking sites! Most of my bookings for the VF are through either booking or airbnb. I do have some direct reservations - but organizationally speaking - it is a pain in the rear on a trip like this!

I agree that it's easiest when you can just go to one site to cancel or change bookings, rather than having to send an email and wait for a response.

I use a spreadsheet, and have color coded which places I have booked direct and which I used email, WhatsApp or the property's own booking site. I also note the "drop dead" cancellation dates.

 

[naplesdon]

This thread is giving me and "ice scream" headache, we are talking nickels and dimes here folks, if you convert it into USD's! This sound like a bunch of people defending tipping or not tipping servers in Europe.

 

[Kathar1na]

There is also an option to always see prices in local currency

Booking.com has plenty of display options but that does not change or determine the currency in which online payments and similar financial transactions involving two currencies are agreed and made.

I had a look at the list of my old bookings. All of them have been made in € and mostly in Spain and in France. When I set the general currency option for Booking.com to GBP, the amount I paid for the Hospedería San Martin Pinario is shown as £63, and when I set the display option to USD it is shown as US$78 but that is just for information, it does not change the fact that payment had been agreed in € as €71 at the time of booking and had been executed as €71 at the time of actual payment, as clearly stipulated in the booking conditions.

I find Booking.com quite transparent when one does pay attention to the so-called "small print".

PS: I do agree with @estorildon that we are talking peanuts . But you know what it's like: some people are keen on saving a handful of euros and others are curious by nature and simply want to know.

 

[Former member 92300]

This thread is giving me and "ice scream" headache, we are talking nickels and dimes here folks, if you convert it into USD's! This sound like a bunch of people defending tipping or not tipping servers in Europe.

Nickles and dimes? When you are going for 2 month trips and your accommodations are costing around $60/day (for 2 people - Via Francigena) - it all adds up fast. There is about a $150 dollar difference in what Booking says my currency exchange is compared to what my app is telling me. That isn't including other fees that could be charged every time you use the wrong credit card or the wrong ATM and whether or not you are being charged exchange rates and fees once, twice, or more.

And totally different from whether or not to tip. This is simply what banks and businesses are charging extra to do the exchange for you instead of your bank.

But - if this question bothers you - you are welcome to ignore!

 

[thejoker]

Never had a problem with booking.com and I've booked hundreds of hotels with them over the years and also Agoda (formerly Precision Reservations (same company nowadays)). Though curiously, for 4/5 star bookings Agoda is a bit cheaper while Booking is much better for Camino options in terms of volume. Trip.com can be cheaper than both as my last half board Parador SdC 7 night stay was $130 US cheaper via them.

 

[thejoker]

This thread is giving me and "ice scream" headache, we are talking nickels and dimes here folks, if you convert it into USD's! This sound like a bunch of people defending tipping or not tipping servers in Europe.

This is an excellent post that sums up my feelings too. It really is a case of very small differences.

 

[trecile]

This thread is giving me and "ice scream" headache, we are talking nickels and dimes here folks, if you convert it into USD's! This sound like a bunch of people defending tipping or not tipping servers in Europe.

The point is that you don't have to accept the conversion offered by the vendor - it's never to your advantage. But I don't try to keep track in advance of what my final cost is going to be in USD, I just let my bank handle the conversion at time of payment. When I'm booking a place I am looking for the best value, regardless of the exchange rate.

 

[Former member 92300]

The point is that you don't have to accept the conversion offered by the vendor - it's never to your advantage. But I don't try to keep track in advance of what my final cost is going to be in USD, I just let my bank handle the conversion at time of payment. When I'm booking a place I am looking for the best value, regardless of the exchange rate.

Thank you for getting it. Would you mind locking or deleting this post before more replies like this start ticking me off lol... already 3 people have said it is trivial to care... My budget was already blown to pieces when I agreed to take my daughter and assume her costs. And I won't be walking the very affordable Camino - I will be walking the very expensive comparably Via Francigena (if you know how expensive Switzerland is - you can understand). Anyhow - Every dollar/euro/cent counts at this point. And thank you for understanding the question and having the most helpful reply

 

[Molly Cassidy]

Booking.com has plenty of display options but that does not change or determine the currency in which online payments and similar financial transactions involving two currencies are agreed and made.

I know, but it does tell you instantly exactly how much you will pay when you actually come to pay, rather than an estimate in another currency.

I've also had issues in the past where the conversion seems to go the wrong way, so when you look up a booking to see how much you will pay, the number displayed on the website has changed, but what you actually pay doesn't!

 

[Kathar1na]

I know, but it does tell you instantly exactly how much you will pay

But that is not the issue here, is it? The question is how the actual payment is processed, i.e. at what point the currency conversion occurs, whether the conversion rate € to $ is fixed at the moment of payment (what you as the client sees displayed on a screen as the amount paid in $) or whether you see the final amount charged to you in your account in $ only later when you check your bank statements. Let's call this DCC option and normal option.

As far as I understand it, Booking.com uses the normal option. Also as far as I understand it, for businesses based in the EU at least, consumer protection law requires that when a business offers the DCC option, they must make the customer aware of this option in addition to the normal option, it is the customer who makes the choice and not the business.

In any case, I don't know what the app does that is mentioned earlier but whatever it does, it can only be indicative as to future payments and for past payments one needs to go to the daily currency exchange rates to figure out the actual rate used and good luck with all that as the exchange rates on the currency markets fluctuate from minute to minute.

And just to clarify: the DCC option is more expensive for you, the consumer, not because of the chosen exchange rate but because the fees associated with it are higher than those associated with the normal option.

 

[Molly Cassidy]

The payment is always in local currency. It used to be that booking.com did not take payments from customers at all. It is only recently they offered the option to accommodation providers that booking.com takes the payment.

Before that all payments were taken by accommodation providers in there local currency.

 

[trecile]

already 3 people have said it is trivial to care

It's not trivial to care, but it's impossible to know what you will ultimately pay in USD until the payment is actually made, since currency values are constantly changing. Just know that you will always get the best deal when paying in the local currency.

On my spreadsheet I note the fixed price in Euros, and ignore the estimated price in USD.

 

[Former member 92300]

It's not trivial to care, but it's impossible to know what you will ultimately pay in USD until the payment is actually made, since currency values are constantly changing. Just know that you will always get the best deal when paying in the local currency.

On my spreadsheet I note the fixed price in Euros, and ignore the estimated price in USD.

I do the same on my spreadsheet. Just wanting to be sure I always select the option when available to get the best possible exchange rate, when it will make a difference (as it does at ATMs)

 

[Caminogoat]

Gosh - I wish I had thought to ask this question ages ago instead of after 1 "backpacking Europe" trip, 2 completed Caminos and a completely pre-booking Via Francigena via direct websites, emails, booking .com and airbnb!

When you are booking on the booking .com or other booking websites - do you keep the currency your home currency? Or do you change it to local currency? I know when we withdraw money from ATM's we should select local currency and let our banks do the currency exchange instead of the ATM. But what about when booking accommodations online? I ask because I just downloaded a trip budget recording app and I entered all accommodation fees in the local currency - but when the app converted to USD - it shows I paid more that I actually did and is obviously using a different currency conversion number than the booking .com. Which made me realize - I have never looked into whether I should be changing the currency before booking.

Has anyone compared booking in your home currency versus local currency on booking .com. Did booking .com charge more for the conversion if you booked in your home currency? I mean - easier to list in my home currency because my brain knows exactly what I am paying in USD that way - but am I losing a little money doing it that way? Like you do at the ATMs?

Too late for my current upcoming trip - but probably should get this figured out before my next trip! (Ugh... REALLY can't believe I never asked or researched this before!)


EDITED to add
Perhaps clarification is needed regarding my question: I know booking .com and airbnb post the USD and Euro prices, I am wondering if the exchange rate is different depending on which you select.

At the ATM, we usually know the ATM exchange rate is usually worse if you select USD rather than Euros (in which case your bank does the exchange rate) - so I am wondering if the same is true with booking websites. Does booking.com use a higher exchange if you book accommodation in Europe and select USD as your currency?

What type of credit card you use makes a difference. If you have a credit card that does not charge you conversion fees (e.g., I have AA Advantage Platinum Select Master Card issued by Citibank that does not charge foreign currency conversion fees), then it's always better to pay with the local currency and you would be saving conversion fees each time. The dollar amount you pay depends on the conversion rate at the time when the transaction occurred. Your bank statement will show the conversion rate for each transaction. If your credit card company charges you conversion fees, and you choose to pay with euros, then your bank will charge you conversion fees; if you choose to pay with dollars, then
the local merchant's bank will charge you a conversion fee.

 

[flewitheagles]

I'll admit that as I get older I'm less concerned about the exchange rate cost and more concerned about the availability. That said, I think I always deal in $ on booking.com if for nothing else than comparison. I guess I'm fortunate that I can afford those things that I book and, truthfully, I've been a bit frugal my whole life... to my wife's chagrin..

 

[Former member 92300]

What type of credit card you use makes a difference.

Yes - I have a good credit card so that isn't my worry.

But if you are not careful - if you don't select make your purchase in the local currency - the local business will use their own/higher exchange rate sometimes - which may be more than the actual current exchange rate. That is all I am trying to avoid.

 

[J Willhaus]

We certainly pay for convenience. I do remember travelers checks where you were paying a percentage for each $100 when you purchased them and then hoped a bank was open so you could get them exchanged for marks, pesos, guilders, etc. No credit cards, etc. It might have been easier to track at that time. Now with a the click of the computer it seems more difficult to identify additional costs. I am also thrifty, but I had not thought about questioning this process. Good to consider.

 

[David with new Kit!]

I don't let my bank convert any online payments as there is a charge for the service.

I use a Monzo card for online and offline payments (there are others available) for which there are no banking charges at all.

As above, always choose the local currencies as otherwise you will pay for the pleasure of having it converted to your home currency.

 

[Kathar1na]

For what it is worth again: When you put DCC "booking.com" into Google search, you don't get many obvious search results that have anything to do with conversion between two currencies and disproportionate fees, hidden or otherwise. When you put DCC "airbnb" into Google search you immediately see results about avoiding and even disabling Dynamic Currency Conversion DCC where DCC stands for "showing me the amount in my own currency and not in the foreign currency while I am about to actually pay the amount for something in the foreign country".

This may or may not indicate that there is no issue with this on Booking.com and that there may be an issue on Airbnb but I have not looked at the general conditions one agrees to when one uses the services of Airbnb.

 

[dfox]

My booking experience with booking .com is to pay in Euro to the hotel, by credit care, when I actually checked-in. The credit card company will convert it into US$.

The US$ shows at the time of booking is an estimation only. Due to FX, the US$ mentioned during booking and by the time at check-up could be difference.

 

[trecile]

I'm going to go ahead and close this thread - just remember to choose to pay in the local currency rather than accepting the conversion to your home currency. And the same goes when given that option when withdrawing Euros at an ATM.