Bank of America charges its credit card holders an extra 3% on all purchases made out of the US and charged on their cards. They claim it is a "Currency Conversion Fee". There is no such expense incurred by them for "converting currencies". It is just a way of extorting an extra 3% from its customers. NBNA and other banks do not charge any fee for "converting currencies" for purchases made out of the USA. It there was a currency conversion charge, them all credit card banks would charge this fee. They should be made to refund all of these fees to its card holders along with interest for the time they held this money.
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