Common use of Dynamic Currency Conversion Clause in Contracts

Dynamic Currency Conversion. (i) If your Cash Withdrawal, Cash Advance or Card Transaction (including online and overseas transactions) is converted into Singapore dollars via dynamic currency conversion (a service offered at certain ATMs and merchants which allows a cardmember to convert a transaction denominated in a foreign currency to Singapore Dollars at the point of withdrawal/sale), you acknowledge that the process of conversion and the exchange rates applied will be determined by the relevant ATM operator, merchant or dynamic currency conversion service provider, as the case may be. You acknowledge that we do not determine whether a transaction will be converted into Singapore dollars via dynamic currency conversion and, where your card transaction is for a retail purchase, you may have to check with the relevant merchant whether such conversion was done. (ii) In addition, the Cash Withdrawal, Cash Advance or Card Transaction will be subject to an administrative fee of 2.5% on the converted Singapore dollar amount levied by VISA/ MasterCard International if it is a VISA/ MasterCard International transaction.