Direct Debits. A Direct Debit allows a business to collect payments from your account. You can only make payments to businesses with an account in the UK in pounds (£). If you set up a Direct Debit, we'll make your payment on the day the person you're paying tells us to. Foreign currency payments This section applies if you make an electronic payment in a foreign currency. We call these foreign currency payments. A foreign currency is one which is different to your account currency. Your account currency is either pounds (£) or euro (€). It is the currency you opened your account in. What exchange rate applies? The exchange rate that applies depends on whether you've made a foreign currency payment using your debit card, or if you've made the payment using your Online Banking. Debit card payments and foreign currency cash withdrawals If you use your debit card for a foreign currency payment, the amount might need to be converted into your account currency before the payment is made. Sometimes, the ATM or card machine provider might offer to do this for you. If you agree to use their exchange rate, they'll let you know what exchange rate will apply. Otherwise, we'll convert the amount using our exchange rate. We use the Visa exchange rate to convert your foreign currency payments. You can find these on Visa's website at xxx.xxxxxxxxxx.xxx (or any replacement website set up by Visa). The exchange rate that applies will be the one used by Visa on the day the payment is taken from your account. This might be different than the day you made the payment using your debit card. As the Visa exchange rate changes from time to time (even day to day), we need to be able to change our exchange rates immediately, without telling you first. This means you'll have to check Visa's website for the exchange rate on the day the payment is taken from your account.
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