Currency conversion when paying - how to avoid overpayments
Currency conversion when paying - how to avoid overpayments
Introduction
Australian players are often faced with a situation where an online casino operates not only in AUD, but also in USD, EUR or other currencies. Payment by Visa or Mastercard in such cases may be accompanied by automatic currency conversion. If you do not take into account the peculiarities of this process, the amount of the deposit or withdrawal will be higher than expected due to commissions and hidden fees.
How currency conversion works when you pay
1. Automatic bank conversion
If the casino accepts only foreign currency, the bank will convert the funds from the AUD at its rate.
2. Courses of international payment systems
Visa and Mastercard use their own conversion tables, which may differ from the Central Bank rate or market value.
3. International Fee
Most Australian banks hold 1.5-3 per cent on non-AUD currency transactions.
4. Double conversion
In some cases, funds are first transferred to USD and then to the casino currency, which increases the final overpayment.
Main reasons for overpayments during conversion
The casino works only with USD or EUR.
The bank sets a less favorable rate than Visa or Mastercard.
Additional cross-border transaction fees are included.
The player chooses the wrong payment method (e.g. payment in casino currency instead of AUD).
How to avoid overpayments
1. Choose AUD-enabled casinos
The best way is to play on venues where you can top up in Australian dollars without conversion.
2. Use cards with no foreign exchange fees
Some banks in Australia offer premium or multi-currency cards with zero fees.
3. Compare Visa and Mastercard courses
Before the deposit, it is worth checking the official conversion rate on the website of the payment system.
4. Disable Dynamic Conversion (DCC)
If a casino or bank offers to pay immediately to AUD at "its rate," most often it is less profitable. It is better to choose a write-off in the casino currency and entrust the recalculation to the Visa/Mastercard system.
5. Use e-wallets or cryptocurrency as an intermediate method
Sometimes it is easier to replenish your wallet in AUD, and then transfer funds in casino currency without bank fees.
Example of overpayment calculation
Deposit: 100 AUD.
The casino accepts only USD.
Bank rate: 1 AUD = 0.63 USD (minus 2% commission).
Visa rate: 1 AUD = 0.65 USD.
The player loses about USD 4 per transaction only due to the difference in rates and bank fees.
Tips for players
Look for casinos where AUD is listed among the major currencies.
Use a multi-currency card for frequent play.
Check the bank's rules on international transactions.
With large deposits, choose a system with minimal fees to avoid tangible losses.
Conclusion
Currency conversion when paying through Visa and Mastercard can imperceptibly reduce the amount of deposit and winnings. Australian gamblers should check bank and casino terms in advance to minimise costs. The best option is a casino with AUD support or a card without a conversion fee. This will save more money for the game and avoid hidden overpayments.
Introduction
Australian players are often faced with a situation where an online casino operates not only in AUD, but also in USD, EUR or other currencies. Payment by Visa or Mastercard in such cases may be accompanied by automatic currency conversion. If you do not take into account the peculiarities of this process, the amount of the deposit or withdrawal will be higher than expected due to commissions and hidden fees.
How currency conversion works when you pay
1. Automatic bank conversion
If the casino accepts only foreign currency, the bank will convert the funds from the AUD at its rate.
2. Courses of international payment systems
Visa and Mastercard use their own conversion tables, which may differ from the Central Bank rate or market value.
3. International Fee
Most Australian banks hold 1.5-3 per cent on non-AUD currency transactions.
4. Double conversion
In some cases, funds are first transferred to USD and then to the casino currency, which increases the final overpayment.
Main reasons for overpayments during conversion
The casino works only with USD or EUR.
The bank sets a less favorable rate than Visa or Mastercard.
Additional cross-border transaction fees are included.
The player chooses the wrong payment method (e.g. payment in casino currency instead of AUD).
How to avoid overpayments
1. Choose AUD-enabled casinos
The best way is to play on venues where you can top up in Australian dollars without conversion.
2. Use cards with no foreign exchange fees
Some banks in Australia offer premium or multi-currency cards with zero fees.
3. Compare Visa and Mastercard courses
Before the deposit, it is worth checking the official conversion rate on the website of the payment system.
4. Disable Dynamic Conversion (DCC)
If a casino or bank offers to pay immediately to AUD at "its rate," most often it is less profitable. It is better to choose a write-off in the casino currency and entrust the recalculation to the Visa/Mastercard system.
5. Use e-wallets or cryptocurrency as an intermediate method
Sometimes it is easier to replenish your wallet in AUD, and then transfer funds in casino currency without bank fees.
Example of overpayment calculation
Deposit: 100 AUD.
The casino accepts only USD.
Bank rate: 1 AUD = 0.63 USD (minus 2% commission).
Visa rate: 1 AUD = 0.65 USD.
The player loses about USD 4 per transaction only due to the difference in rates and bank fees.
Tips for players
Look for casinos where AUD is listed among the major currencies.
Use a multi-currency card for frequent play.
Check the bank's rules on international transactions.
With large deposits, choose a system with minimal fees to avoid tangible losses.
Conclusion
Currency conversion when paying through Visa and Mastercard can imperceptibly reduce the amount of deposit and winnings. Australian gamblers should check bank and casino terms in advance to minimise costs. The best option is a casino with AUD support or a card without a conversion fee. This will save more money for the game and avoid hidden overpayments.
