Like most financial institutions, it would be huge to have foreign transactions on statements show the foreign transaction amount in the line item instead of just showing the converted Canadian amount.
The app does this already and consistency is key.
I agree completely. I am currently writing down the Canadian amount on my foreign purchases bill so that I can later reconcile. It would be so much easier if the foreign and Canadian amount were both shown.
Hey @neouser & @PGA This is a great flag. I will bring this up with our team to see how big of a lift it is to implement this feature into our customer’s statements. Really great suggestion and you guys are totally right about the consistency piece, especially because we already have this in the app, its a no brainer to have it carry forward onto the statement as well! I will ask the team about it!
Hi I am actually reviewing my CC statement of Oct 23 and I notice that the foreign currency amount is included in the statement and it was showing on the statement on my last overseas trip in June. So this is already working correctly and it is very helpful to have this reflected on the statement. Where it is not showing up is on the account inquiry. It would be useful for it show up in the inquiry detail as well as in the email notification when the purchase is made. I am really happy to see that it is on the actual statement though, and if this could be downloaded as a csv file it would be perfect.
Thanks for pointing that out, I do see on my latest statement that the USD amount now shows. I guess we can disregard that now!
Thank you both for confirming! I unfortunately haven’t travelled recently so have no point of reference on my own app. I’m glad that we are seeing that consistency across statements as well!
I forgot to mention though, the foreign currency that shows up on the statement is 3% higher than the actual credit card receipt. It seems that Neo adds 3% to the actual receipt charge then gives cash back (with the travel package) of 2%. I did a direct comparison of a charge through Neo and a similar charge (same day) through BMO WE. The net Neo payment (charge less cashback) was virtually the same as the cost through BMO. So you actually pay more on Neo than BMO but then funds are added to your cash back.