Uber, a popular transportation option in nearly 70 countries, is a convenient way to navigate international travel. By using Uber, you can avoid falling victim to airport taxi scams, compare prices, input your destination in English, track your route via the app, and pay with a credit card instead of dealing with currency exchange.
However, Uber’s latest feature, “preferred currency pricing,” might increase the cost of your rides abroad. This feature, set to launch on Feb. 27, 2025, in the U.S., Canada, the European Union, and the United Kingdom, automatically displays Uber ride prices in your home currency when traveling internationally, along with a 1.5% conversion fee.
While it may be convenient to see prices in U.S. dollars, thereby eliminating the need for mental calculations, you can avoid this additional fee by disabling the preferred currency pricing feature before embarking on your next international trip.
What exactly is a currency conversion fee, you ask? It’s a charge you may encounter when making purchases in U.S. dollars while abroad. Merchants often offer to convert your purchase to U.S. dollars and then tack on extra fees for providing this service. Uber’s preferred currency pricing feature works similarly by incorporating a conversion fee into your total charge.
Keep in mind that currency conversion fees differ from foreign transaction fees, which financial institutions typically levy (ranging from 1% to 3%) when you use debit or credit cards for international purchases. You may end up paying both fees during the same transaction. To avoid Uber’s currency conversion fee, disable the preferred currency feature.
On a related note, you can also steer clear of foreign transaction fees by opting for cards that don’t impose such charges.
To disable preferred currency pricing in the Uber app, follow these steps:
1. Open the Uber app and tap on the “Account” button located at the bottom right.
2. Select “Wallet” near the top of the screen.
3. Scroll down to find “Preferred currency.”
4. Choose “No preferred currency” and then click “Confirm.” This ensures you see trip costs in the local currency of your booking location.
Remember, Uber’s currency conversion fee is just one of many fees to be mindful of when traveling abroad. Even if a merchant converts your purchase to U.S. dollars, debit and credit cards may still apply foreign transaction fees. For a fee-free experience and potential rewards, consider exploring BW’s list of the best credit cards with no foreign exchange fees.