"Beginning April 1, 2008, the conditions under which Visa USA (Visa) charges financial institutions its International Service Assessment (ISA) fee are changing. Previously, Visa only charged the ISA fee on international transactions that involved currency conversion. With this change, however, Visa will now charge financial institutions an ISA fee on all international transactions regardless of whether there is a currency conversion. If there is no currency conversion (a "single-currency transaction") the ISA fee is 0.8% of the transaction amount; if there is a currency conversion (a "multi-currency transaction") the ISA fee will continue to be 1% of the transaction amount. Visa defines an international transaction as a transaction where the card-issuing financial institution's country is different than the merchant’s country. Thus, a transaction over the Internet could qualify as an international transaction."
If enough people would just reject this type of blatant gouging by snipping their VISA in 2 and returning to sender, I believe these outrageous fees would vanish ... but sadly there are too many people willing to pay.
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