Common use of Foreign Currency Conversion Rate Clause in Contracts

Foreign Currency Conversion Rate. If you effect a transaction at a merchant that settles in a currency other than U.S. dollars, Mastercard will convert the charge into a U.S. dollar amount. Mastercard’s currency conversion procedure includes use of either a government-mandated exchange rate, or a wholesale exchange rate selected by Mastercard, and the government-mandated exchange rate or wholesale exchange rate Mastercard uses for a particular transaction is the rate Mastercard selects for the applicable currency on the day the transaction is processed, which may differ from that applicable to the date the transaction occurred or when it is posted to the cardholder’s Account.

Foreign Currency Conversion Rate. If you effect a transaction at a merchant that settles in a currency other than U.S. dollars, Mastercard MasterCard will convert the charge into a U.S. dollar amount. MastercardMasterCard’s currency conversion procedure includes use of either a government-mandated exchange rate, or a wholesale exchange rate selected by MastercardMasterCard, and the government-mandated exchange rate or wholesale exchange rate Mastercard uses for a particular transaction is the rate Mastercard selects for the applicable currency on the day the transaction is processed, which may differ from that applicable to the date the transaction occurred or when it is posted to the cardholder’s Account.exchange