Charges in Foreign Currency. If you make a Charge in a currency other than Indian Rupees, that Charge will be converted into Indian Rupees. The conversion will take place on the date the Charge is processed by overseas American Express, which may not be the same date on which you made your Charge as it depends on when the Charge was submitted to American Express. If the Charge is not in U.S. Dollars, the conversion will be made through U.S. Dollars, by converting the Charge amount into U.S. Dollars and then by converting the U.S. Dollar amount into Indian Rupees. If the Charge is in U.S. Dollars, it will be converted directly into Indian Rupees. Unless a specific rate is required by applicable law, you understand and agree that the overseas American Express treasury system will use conversion rates based on interbank rate that it selects from customary industry source on the business day prior to the processing date, increased by a foreign currency conversion mark up of 3.5%. If Charges are converted by third parties prior to being submitted to American Express, any conversions made by those third parties will be at rates selected by them. Please note that if the charge is made in Nepal and Bhutan, currency conversion factor is not applicable as such charge will be denominated in Indian Rupees to the Cardmembers.
Charges in Foreign Currency. Visa converts any Transaction made to the Visa Check Card (purchase, credit, cash disbursement, ATM, or reversals) in foreign currency to U.S. dollars. The currency conversion procedure that Visa International uses multiplies the foreign currency Transaction by an exchange rate to convert it into a U.S. dollar amount. The exchange rate between the Transaction currency and the billing currency used for processing international Transactions is a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa receives, or the government mandated rate in effect for the applicable central processing date. The exchange rate is subject to change by Visa. The date the exchange rate is applied by Visa is either the date the Transaction is processed or the day before the date the Transaction is processed. This means that the exchange rate applied to your foreign Transaction may differ from the rate on the date of your Transaction. In addition, an International Transaction Fee of 1% of the Transaction amount will be assessed and will be shown independently of the Transaction on your statement.
