Visa Southeast Asia | Foreign Currency Exchange

Foreign Currency Exchange

	Visa is committed to providing cardholders with a safe, convenient and cost-effective way to pay when traveling internationally. Click here to access our currency converter. Below are some answers to frequently asked questions about Visa's exchange rate and currency conversion.

Will the rates shown be the rates charged to my account?
The exact rate you are charged depends on when the transaction is posted to the Visa system, which may be later than the day on which you made a purchase, depending on how promptly each merchant handles their Visa transactions. Also, different banks charge different mark-ups for cross-border transactions; some impose no mark-ups or fees. If you travel internationally frequently, the different pricing charged by issuing banks should be one of the factors you consider when selecting the Visa card that best suits your needs.

How does Visa calculate its rate?
Every day, except weekends, Christmas Day and New Year's Day, Visa calculates the rate for the next day's transactions. The Visa rate is selected from a range of rates available in wholesale currency markets or the government-mandated rate in effect one day prior to the applicable central processing date. Visa makes this rate available to issuing banks, which may adjust the rate in billing cardholders. The rate Visa makes available to issuing banks may vary from the rate Visa itself receives.

How accurate are the rates?
The rates you are shown are from Visa's internal database for foreign exchange rates and are updated daily. However, they are only meant to serve as an indication of the rate you could expect to receive from your issuer. As exchange rates change constantly, the rate is only accurate for one day. The exact rate you are charged depends on when the transaction is posted to the Visa system which may be later than the day on which you paid, depending on how promptly each merchant handles their Visa transactions.

How do I find out if my bank marks up the Visa rate?
Different banks charge different mark-ups for cross-border transactions; some impose no mark-up or fees. If you travel internationally frequently, the different pricing charged by issuing banks should be one of the factors you consider when selecting the Visa card that best suits your needs. You should contact the bank that issues your card to learn more about the charges you may incur when using your Visa card internationally.

What is Dynamic Currency Conversion?
Some merchants now offer to convert your bill into your home currency. This is called dynamic currency conversion and means the merchant—and not Visa—is converting the currency. As a consumer you may value knowing the exact price in your home currency at the point of sale but you should also know you may be charged extra for this service by the merchant. Visa requires that you are provided a meaningful choice at the point of sale and you have the right to buy your purchase in the local currency so that you do not incur any additional fees the merchant may assess. Visa also requires merchants offering this service to inform you of the exchange rate including any applicable commission being charged.

Has Visa changed its fee structure for international transactions?
From 1 April 2005, Visa assesses a one percent International Service Assessment (ISA). The ISA is not a currency conversion fee but a charge to issuers when transactions use the global payment system. The ISA is charged to issuers on same currency, cross-border transactions like DCC. Visa no longer charges issuers the one percent multicurrency conversion fee. It is important to note that issuers determine the cardholder pricing structure. Some banks charge mark-ups for same-currency cross-border transactions; others do not. If you frequently travel internationally, the different pricing structures charged by issuers should be one of the factors you take into consideration when you select the Visa card that best suits your needs.