Heads up: Uber is about to change the way overseas rides are charged.

Starting February 27, Uber will begin forcing users based in Europe and North America into what it calls Preferred Currency Pricing which will see them slugged with an additional 1.5% fee on every ride.

Under Preferred Currency Pricing, the Uber app will automatically default to the user’s home currency instead of the local currency when they use Uber in another country.

For example, UK residents catching an Uber in France will see their ride charged in UK pounds rather than Euros – with Uber adding a 1.5% currency conversion fee to every ride.

Uber says this change will make it “easier to know how much you’re paying while abroad,” but savvy travellers will recognise this as ‘dynamic currency conversion’, which should always be avoided.

Update: Uber has stated that its initial statement implying a worldwide rollout of Preferred Currency Pricing was in error, and that opt-in Preferred Currency Pricing will only affect customers “from the US, Canada, the UK and the Eurozone will be automatically opted into our Preferred Currency Pricing feature when traveling between those four markets.” 

An Uber spokesperson tells Executive Traveller there are currently no plans to adopt Preferred Currency Pricing for Australian customers travelling overseas.

Uber Preferred Currency Pricing explained  

Here’s how Uber’s Preferred Currency Pricing will work:

  • your fare will be displayed and charged in your home currency
  • Uber will then add a 1.5% ‘currency conversion fee’ to the total fare

And if your credit card levies foreign transaction fees, you could face additional charges from the bank or card company because the transaction was made overseas (even though it’s shown in your home currency).

Preferred Currency Pricing is already offered in many countries, but an upcoming wave of Uber app updates will see this feature rolled out worldwide.

“Starting February 27, 2025, Preferred Currency Pricing will automatically show prices in your home currency when you travel to select countries to help make your international travel smoother and more convenient,” Uber says.

And here’s the catch:“you'll be charged in your home currency unless you opt out,” Uber says.

How to opt out of Uber Preferred Currency Pricing

If you’re an Uber user in US, Canada, the UK and the Eurozone amd would rather be charged in the local currency – which is ideal if you have an international ‘travel money’ card such as Wise – here’s how to opt out of Uber’s Preferred Currency Pricing.

  1. Open the Uber app on your smartphone and select Wallet
  2. Tap the Set preferred currency option
  3. Select the No preferred currency option

This will ensure your Uber rides will always be charged in the local currency of whichever country you’re in, thus avoiding Uber’s 1.5% surcharge.