2024-02-10 00:45:00
Photo = Shutterstock
[시사저널e=김희진 기자] Even during this Lunar New Year holiday, there is a high demand for people to travel abroad instead of their hometown. According to Incheon International Airport Corporation and Korea Airports Corporation, the number of passengers traveling overseas through eight airports across the country, including Incheon, Gimpo, Gimhae, and Jeju, is expected to be 1.247 million during the five-day Lunar New Year holiday from the 8th to the 12th of this month.
As the demand for overseas travel has increased, the number of people trying to use card payments abroad is also increasing. The preference for using cards is increasing because, in addition to the convenience of payment, it has the advantage of preventing the risk of losing cash. Therefore, today I would like to introduce three tips you should know when making overseas card payments.
◇ Block foreign currency payment (DCC)
When paying by card overseas, if you pay in Korean Won rather than the local currency, double currency conversion will occur and you will have to pay additional fees. Therefore, before using a card, we recommend using the Dynamic Currency Conversion (DCC) blocking service through your credit card company. You can easily apply for DCC blocking service through your card company website, call center, or mobile application.
If KRW is written on the receipt or payment history text when paying by card, double currency exchange has been applied. In this case, you can request payment in local currency, or if you have already paid, you can cancel the payment and request repayment in local currency.
◇ Check IC chip pin number
In Korea, the password is not confirmed when using the card at offline affiliated stores, but overseas, depending on the country, when making a card payment, the customer may have to insert the IC card into the terminal and enter the PIN number directly to make the payment.
Generally, the IC chip pin number is a 4-digit number and is the same as the card password, but sometimes it is not registered. There are also cases where you must enter a 6-digit number. In this case, if you add 00 to the password you know, it will be approved in most cases, but since there are slight differences in the method of each card company, the payment may fail.
When making an overseas card payment, if you enter the wrong password more than 5 times, the card will be suspended due to a password error. Therefore, you must check whether the IC chip password is properly registered before traveling abroad.
◇ Be careful with private ATMs
Unlike domestically, where credit card payments are available at any affiliated store, there are many places overseas where payment is currently only possible in cash. Therefore, if you need cash urgently, you must use an ATM, but it is best to avoid private ATMs as much as possible.
A private ATM refers to an ATM located on the street or inside a convenience store rather than a local bank, and replica machines may be hidden in these places. To prevent withdrawal damage due to illegal copying, you should avoid using private ATMs as much as possible. If you must use a private ATM, you should cover the password with your hand and press it so that it is not exposed to cameras or people around you.
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