Common use of Charges in a Foreign Currency Clause in Contracts

Charges in a Foreign Currency. a. If an Account User makes a Charge in a currency other than the Billing Currency, or if we receive a refund in a currency other than the Billing Currency, that Charge or refund will be converted into the Billing Currency. The conversion will take place on the date the Charge or refund is processed by us, which may not be the same date on which the Charge was made, or the date of the refund, as it depends on when the Charge or refund was submitted to us. If the Charge or refund is not in U.S. dollars, the conversion will be made through U.S. dollars, by converting the Charge or refund amount into U.S. dollars and then by converting the U.S. dollar amount into the Billing Currency. If the Charge or refund is in U.S. dollars, it will be converted directly into the Billing Currency. b. Unless a specific rate is required by applicable law, or is used as a matter of local custom or convention in the territory where the Charge or refund is made (in which case we will look to be consistent with that custom or convention),You understand and agree that the American Express treasury system will use conversion rates based on interbank rates that it selects from customary industry sources on the business day prior to the processing date (the “American Express Exchange Rate”), to which a fee of 2.99% for Dollar and 2.7% for Euro will be applied, for all Cards except (i) the vPayment Account to which a fee of 1.0% will be applied; (ii) Business Travel Account to which a fee of 2.3% will be applied; and (iii) the Corporate Purchasing Card and Corporate Purchasing Account to which a fee of 2.99% will be applied, or as otherwise disclosed by us. c. When an Account User makes a Charge in a foreign currency, they may be given the option of allowing a third party (for example, the merchant) to convert the Charge into the Billing Currency before submitting it to us. If Charges are converted by third parties prior to being submitted to us, any conversions made by those third parties will be at rates set by such third parties and may include a commission or charge selected by them. In such cases, we will consider the transaction as a Billing Currency transaction and accept the conversion performed by the third party without charging a conversion fee. You may however be liable for a conversion fee charged by the third parties. Please ask them for details of any fees they apply. d. The American Express Exchange Rate is set daily between Monday and Friday, except Christmas Day and New Year’s Day. Any changes in the American Express Exchange Rate will be applied immediately and without notice. The rate charged is not necessarily the rate available on the date of the transaction as the rate applicable is determined by the date on which the Merchant, Travel Booking Provider or ATM operator, in the case of Cards which can be used at ATMs, submits a Charge or refund to us which may not be the date on which the transaction is authorised or the refund is made. Fluctuations can be significant.

Charges in a Foreign Currency. a. If an Account User makes a Charge in a currency other than the Billing Currency, or if we receive a refund in a currency other than the Billing Currency, that Charge or refund will be converted into the Billing Currency. The conversion will take place on the date the Charge or refund is processed by us, which may not be the same date on which the Charge was made, or the date of the refund, as it depends on when the Charge or refund was submitted to us. If the Charge or refund is not in U.S. dollars, the conversion will be made through U.S. dollars, by converting the Charge or refund amount into U.S. dollars and then by converting the U.S. dollar amount into the Billing Currency. If the Charge or refund is in U.S. dollars, it will be converted directly into the Billing Currency. b. Unless a specific rate is either required by applicable law, or is used as a matter of local custom or convention in the territory where the Charge or refund is made (in which case we will look to be consistent with that custom or convention),You convention), you understand and agree that the American Express treasury system will use conversion rates is based on interbank rates that it our rate setting affiliate, AE Exposure Management Limited selects from customary industry sources on the business day prior to the processing date (date. This rate is called the “American Express Exchange Rate”), to which a fee of 2.99% for non-Dollar and 2.7% for Euro will be applied, for all Cards except (i) the vPayment Account to which a fee of 1.0% will be applied; (ii) Business Travel Account to which a fee of 2.3% will be applied; and (iii) the Corporate Purchasing Card and Corporate Purchasing Account to which a transaction fee of 2.99% will be applied, or as otherwise disclosed by us. c. When an Account User makes a Charge in a foreign currency, they may be given the option of allowing a third party (for example, the merchant) to convert the Charge into the Billing Currency before submitting it to us. If Charges are converted by third parties prior to being submitted to us, any conversions made by those third parties will be at rates set by such third parties and may include a commission or charge selected by them. In such cases, we will consider the transaction as a Billing Currency transaction and accept the conversion performed by the third party without charging a conversion fee. You may however be liable for a conversion fee charged by the third parties. Please ask them for details of any fees they apply. d. The American Express Exchange Rate is set daily between Monday and Friday, except Christmas Day and New Year’s Day. Any changes in the American Express Exchange Rate will be applied immediately and without notice. The rate charged is not necessarily the rate available on the date of the transaction as the rate applicable is determined by the date on which the Merchant, Travel Booking Provider Merchant or ATM operator, in the case of Cards which can be used at ATMs, submits a Charge or refund to us which may not be the date on which the transaction is authorised or the refund is made. Fluctuations can be significant. The total cost of converting your currency (we call this the ‘Currency Conversion Charge’) consists of the American Express Exchange Rate and the non-Dollar transaction fee. e. You agree you are acting only for the purposes of your trade, business or profession and acknowledge and agree that we are not required to send any notifications to you relating to Currency Conversion Charges, as required by Regulation (EU) 2019/518.

Charges in a Foreign Currency. a. If an Account User makes you carry out a Charge that is submitted to us in a currency other than the Billing CurrencyEuro, or if we receive a refund in a currency other than the Billing CurrencyEuro, that Charge or refund will be converted into Euro using the Billing CurrencyAmerican Express Exchange Rate (as described below). The conversion will take place on the date the Charge or refund is processed by us, which may not be the same date on which you authorise the Charge was made, or the date of the refund, refund as it depends on when the Charge or refund was submitted to us. If the Charge or refund is not in U.S. dollars, the conversion will be made through U.S. dollars, by converting the Charge or refund amount into U.S. dollars and then by converting the U.S. dollar amount into the Billing CurrencyEuro. If the Charge or refund is in U.S. dollars, it will be converted directly into the Billing CurrencyEuro. b. Unless a specific rate is either required by applicable law, or is used as a matter of local custom or convention in the territory where the Charge or refund is made (in which case we will look to be consistent with that custom or convention),You convention), you understand and agree that the American Express treasury system will use conversion rates systemis based on interbank rates that it our rate setting affiliate, AE Exposure Management Limited (“AEEML”) selects from customary industry sources on the business day prior to the processing date (date. This rate is called the “American Express Exchange Rate”), to which a currency conversion fee of 2.99% for Dollar and 2.7% for Euro will be applied, for all Cards except (i) the vPayment Account to which a fee of 1.02.5% will be applied; (ii) Business Travel Account to which a fee of 2.3% will be applied; and (iii) the Corporate Purchasing Card and Corporate Purchasing Account to which a fee of 2.99% will be applied, or as otherwise disclosed by us. c. When an Account User makes you make a Charge in a foreign currency, they you may be given the option of allowing a third party (for example, the merchant) to convert the Charge into the Billing Currency Euro before submitting it to us. It is your decision whether to use the third party currency conversion or not. If Charges are converted by third parties prior to being submitted to us, any conversions made by those third parties will be at rates set by such third parties an exchange rate, and may include a commission or charge charge, selected by them. In such casesYou should check the fees and charges before completing the Charge to ensure that you do not pay more than necessary. Since a Charge converted via the third party will be submitted to us in Euro, we will consider the transaction as not apply a Billing Currency transaction and accept the conversion performed by the third party without charging a currency conversion fee. You may however be liable for a conversion fee charged by the third parties. Please ask them for details of any fees they apply. d. The American Express Exchange Rate is set daily between Monday and Friday, except Christmas Day and New Year’s Day. Any You agree that any changes in the American Express Exchange Rate will be applied immediately and without notice. The rate charged is not necessarily the rate available on the date of the your transaction or refund as the rate applicable is determined by the date on which the Merchant, Travel Booking Provider Merchant or ATM operator, in the case of Cards which can be used at ATMs, submits a Charge or refund to us which may not be the date on which you authorise the transaction is authorised or the a refund is made. Fluctuations can be significant. The American Express Exchange Rate and commission are communicated to You on your statement. The total cost of converting your currency (we call this the ‘the Currency Conversion Charge’) consists of the American Express Exchange Rate and the currency conversion fee. Regulation requires us to provide you with information to enable you to compare the cost of the Currency Conversion Charge with reference rates issued by the European Central Bank. This information can be found on our website. e. You agree you are acting only for the purposes of your trade, business or profession when using the Card and acknowledge and agree that we are not required to send any notifications to you relating to Currency Conversion Charges, as required by Regulation (EU) 2019/518.

Charges in a Foreign Currency. a. If an Account User makes you carry out a Charge that is submitted to us in a currency other than the Billing CurrencyPound Sterling, or if we receive a refund in a currency other than the Billing CurrencyPound Sterling, that Charge or refund will be converted into Pound Sterling using the Billing CurrencyAmerican Express Exchange Rate (as described below). The conversion will take place on the date the Charge or refund is processed by us, which may not be the same date on which you authorise the Charge was made, or the date of the refund, refund as it depends on when the Charge or refund was submitted to us. If the Charge or refund is not in U.S. dollars, the conversion will be made through U.S. dollars, by converting the Charge or refund amount into U.S. dollars and then by converting the U.S. dollar amount into the Billing CurrencyPound Sterling. If the Charge or refund is in U.S. dollars, it will be converted directly into the Billing CurrencyPound Sterling. b. Unless a specific rate is either required by applicable law, or is used as a matter of local custom or convention in the territory where the Charge or refund is made (in which case we will look to be consistent with that custom or convention),You convention), you understand and agree that the American Express treasury system will use conversion rates is based on interbank rates that it selects from customary industry sources on the business day prior to the processing date (the called “American Express Exchange Rate”), to which a fee of 2.99% for Dollar and 2.7% for Euro will be applied, for all Cards except (i) the vPayment Account to which a fee of 1.0% will be applied; (ii) Business Travel Account to which a fee of 2.3% will be applied; and (iii) the Corporate Purchasing Card and Corporate Purchasing Account to which a non-Sterling transaction fee of 2.99% will be applied, or as otherwise disclosed by us. c. When an Account User makes you make a Charge in a foreign currency, they you may be given the option of allowing a third party (for example, the merchant) to convert the Charge into the Billing Currency Pound Sterling before submitting it to us. It is your decision whether to use the third party currency conversion or not. If Charges are converted by third parties prior to being submitted to us, any conversions made by those third parties will be at rates set by such third parties an exchange rate, and may include a commission or charge charge, selected by them. In such casesYou should check the fees and charges before completing the Charge to ensure that you do not pay more than necessary. Since a Charge converted via the third party will be submitted to us in Pound Sterling, we will consider the not apply a non-Sterling transaction as a Billing Currency transaction and accept the conversion performed by the third party without charging a conversion fee. You may however be liable for a conversion fee charged by the third parties. Please ask them for details of any fees they apply. d. The American Express Exchange Rate is set daily between Monday and Friday, except Christmas Day and New Year’s Day. Any You agree that any changes in the American Express Exchange Rate will be applied immediately and without notice. The rate charged is not necessarily the rate available on the date of the your transaction or refund as the rate applicable is determined by the date on Cardmember Terms and Conditions which the Merchant, Travel Booking Provider Merchant or ATM operator, in the case of Cards which can be used at ATMs, submits a Charge or refund to us which may not be the date on which you authorise the transaction is authorised or the a refund is made. Fluctuations can be significant. The American Express Exchange Rate may be found by logging onto your online account to access the Foreign Transaction Calculator.

Charges in a Foreign Currency. a. If an Account User makes you carry out a Charge that is submitted to us in a currency other than the Billing CurrencyPound Sterling, or if we receive a refund in a currency other than the Billing CurrencyPound Sterling, that Charge or refund will be converted into Pound Sterling using the Billing CurrencyAmerican Express Exchange Rate (as described below). The conversion will take place on the date the Charge or refund is processed by us, which may not be the same date on which you authorise the Charge was made, or the date of the refund, refund as it depends on when the Charge or refund was submitted to us. If the Charge or refund is not in U.S. dollars, the conversion will be made through U.S. dollars, by converting the Charge or refund amount into U.S. dollars and then by converting the U.S. dollar amount into the Billing CurrencyPound Sterling. If the Charge or refund is in U.S. dollars, it will be converted directly into the Billing CurrencyPound Sterling. b. Unless a specific rate is either required by applicable law, or is used as a matter of local custom or convention in the territory where the Charge or refund is made (in which case we will look to be consistent with that custom or convention),You convention), you understand and agree that the American Express treasury system will use conversion rates is based on interbank rates that it selects from customary industry sources on the business day prior to the processing date (the called “American Express Exchange Rate”), to which a fee of 2.99% for Dollar and 2.7% for Euro will be applied, for all Cards except (i) the vPayment Account to which a fee of 1.0% will be applied; (ii) Business Travel Account to which a fee of 2.3% will be applied; and (iii) the Corporate Purchasing Card and Corporate Purchasing Account to which a non-Sterling transaction fee of 2.99% will be applied, or as otherwise disclosed by us. c. When an Account User makes you make a Charge in a foreign currency, they you may be given the option of allowing a third party (for example, the merchant) to convert the Charge into the Billing Currency Pound Sterling before submitting it to us. It is your decision whether to use the third party currency conversion or not. If Charges are converted by third parties prior to being submitted to us, any conversions made by those third parties will be at rates set by such third parties an exchange rate, and may include a commission or charge charge, selected by them. In such casesYou should check the fees and charges before completing the Charge to ensure that you do not pay more than necessary. Since a Charge converted via the third party will be submitted to us in Pound Sterling, we will consider the not apply a non-Sterling transaction as a Billing Currency transaction and accept the conversion performed by the third party without charging a conversion fee. You may however be liable for a conversion fee charged by the third parties. Please ask them for details of any fees they apply. d. The American Express Exchange Rate is set daily between Monday and Friday, except Christmas Day and New Year’s Day. Any You agree that any changes in the American Express Exchange Rate will be applied immediately and without notice. The rate charged is not necessarily the rate available on the date of the your transaction or refund as the rate applicable is determined by the date on which the Merchant, Travel Booking Provider Merchant or ATM operator, in the case of Cards which can be used at ATMs, submits a Charge or refund to us which may not be the date on which you authorise the transaction is authorised or the a refund is made. Fluctuations can be significant. The American Express Exchange Rate may be found by logging onto your Online Account to access the Foreign Transaction Calculator. The total cost of converting your currency (we call this the ‘the Currency Conversion Charge’) consists of the American Express Exchange Rate and the non-Sterling transaction fee. Regulation requires us to provide you with information to enable you to compare the cost of the Currency Conversion Charge with reference rates issued by the European Central Bank. This information can be found at xxx.xxxxxxxxxxxxxxx.xxx/xx/xxxxx/xx-xxx-xxxxxxxxxx. e. You agree you are acting only for the purposes of your trade, business or profession when using the Card and acknowledge and agree that we are not required to send any notifications to you relating to currency conversion charges, as required by Regulation (EU) 2019/518.

Charges in a Foreign Currency. a. If an Account User makes a Charge in a currency other than the Billing CurrencyEuro, or if we receive a refund in a currency other than the Billing CurrencyEuro, that Charge or refund will be converted into the Billing CurrencyEuro. The conversion will take place on the date the Charge or refund is processed by us, which may not be the same date on which the Charge was made, or the date of the refund, as it depends on when the Charge or refund was submitted to us. If the Charge or refund is not in U.S. dollars, the conversion will be made through U.S. dollars, by converting the Charge or refund amount into U.S. dollars and then by converting the U.S. dollar amount into the Billing CurrencyEuro. If the Charge or refund is in U.S. dollars, it will be converted directly into the Billing CurrencyEuro. b. Unless a specific rate is required by applicable law, or is used as a matter of local custom or convention in the territory where the Charge or refund is made (in which case we will look to be consistent with that custom or convention),You convention), You understand and agree that the American Express treasury system will use conversion rates based on interbank rates that it our rate setting affiliate, AE Exposure Management Limited selects from customary industry sources on the business day prior to the processing date (date. This rate is called the “American Express Exchange Rate”), to which a currency conversion fee of 2.992.5% for Dollar and 2.7% for Euro will be applied, applied for all Cards except (i) the for vPayment Account to which a currency conversion fee of 1.0% will be applied; (ii) Business Travel Account to which a fee of 2.3% will be applied; and (iii) the Corporate Purchasing Card and Corporate Purchasing Account to which a fee of 2.991% will be applied, or as otherwise disclosed by us. c. When an Account User makes a Charge in a foreign currency, they may be given the option of allowing a third party (for example, the merchant) to convert the Charge into the Billing Currency Euro before submitting it to us. If Charges are converted by third parties prior to being submitted to us, any conversions made by those third parties will be at rates set by such third parties party and may include a commission or charge charge, selected by them. In such cases, we will consider the transaction as a Billing Currency an Euro transaction and accept the conversion performed by the third party without charging a currency conversion fee. You may however be liable for a conversion fee charged by the third parties. Please ask them for details of any fees they apply. d. The American Express Exchange Rate is set daily between Monday and Friday, except Christmas Day and New Year’s Day. Any changes in the American Express Exchange Rate will be applied immediately and without notice. The rate charged is not necessarily the rate available on the date of the your transaction as the rate applicable is determined by the date on which the Merchant, Travel Booking Provider or ATM operator, in the case of Cards which can be used at ATMs, submits a Charge or refund to us which may not be the date on which the transaction is authorised or the a refund is made. Fluctuations can be significant. The total cost of converting your currency (we call this the ‘Currency Conversion Charge’) consists of the American Express Exchange Rate and the currency conversion fee. e. You agree you are acting only for the purposes of your trade, business or profession and acknowledge and agree that we are not required to send any notifications to you relating to Currency Conversion Charges, as required by Regulation (EU) 2019/518.