What is exchange rate fee?

The foreign transaction fee can vary depending on the card issuer and can range from a small percentage of the transaction amount to a flat fee. It is essential for cardholders to be aware of these fees before making any international purchases.

Some card issuers may offer cards that do not charge a foreign transaction fee, making them a more attractive option for travelers and those who frequently conduct international business.

Currency conversion fees are a common charge imposed on credit and debit card users engaging in international financial transactions. These fees are levied by the card issuer or the payment processor for converting the transaction amount from the local currency to the user's card's base currency.

While the currency conversion fee is often included in the foreign transaction fee, it's important to note that these two fees are distinct. Understanding the difference can help cardholders make more informed decisions about their financial transactions.

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