Mastercard Reason Code 4846: Incorrect Currency Code

What Mastercard reason code 4846 means

4846 is a legacy processing-error code about currency. It covers two situations:

• Wrong currency: the cardholder agreed to pay in one currency and was charged in another. For example, a price shown in euros charged in U.S. dollars.
• Conversion without choice: the cardholder was converted into their home currency through dynamic currency conversion (DCC) without being offered a clear choice, the exchange rate and the final amount.

Mastercard now handles both under 4834 Point-of-Interaction Error, with currency-related sub-scenarios. The chargeback is usually about the loss from conversion, not the purchase itself. DCC disclosure rules are detailed and can vary by region, so check with your acquirer if you offer it.

Common causes

• Storefronts that display local-currency prices but settle in the merchant’s base currency
• Geo-pricing that shows one currency on the product page and another at payment
• DCC enabled by default on terminals or payment pages, without an explicit opt-in
• Receipts that omit the currency, rate or markup
• Refunds processed in a different currency from the original sale, leaving the cardholder short

Evidence that wins a 4846 dispute

1. Checkout or receipt showing the currency the cardholder agreed to, with the amount.
2. Transaction currency code from the authorization and clearing records, matching the checkout.
3. For DCC: the screen or receipt where the cardholder chose their home currency, showing the rate, any markup and the converted amount.
4. Order confirmation email stating the currency and total.
5. Refund records in the original currency, if the claim relates to a credit.

The decisive question is whether the currency the cardholder saw and chose is the one they were charged.

How to prevent 4846 chargebacks

• Charge in the currency shown at checkout. If you display local prices, settle in that currency or make the conversion explicit.
• Show currency codes (USD, EUR, GBP) instead of bare symbols on product, cart and confirmation pages.
• If you offer DCC, make it an active choice with the rate and amount displayed, and default to the merchant’s currency.
• Refund in the original transaction currency.

Should you fight or accept?

Fight when the charged currency matches the checkout display, or the cardholder clearly opted in to conversion. Screenshots and transaction records are objective evidence.

Accept when the currency at checkout and the charged currency don’t match, or DCC was applied without a real choice. The cardholder’s loss is real, the amount is usually small, and the fix is a configuration change. Cross-border merchants should review currency settings with their processor whenever a 4846 or currency-related 4834 arrives.