Common use of Foreign Currency Purchases and Advances Clause in Contracts

Foreign Currency Purchases and Advances. Debit Card transactions incurred in a foreign currency will be converted by Visa into a U.S. dollar amount in accordance with Visa’s currency conversion procedures in effect at the time of the processing of the transaction. Currently, the currency conversion rate used is either a government-mandated rate in effect for the applicable central processing date or a wholesale currency market in effect for the applicable central processing date, plus the international purchase transaction fee. The conversion rate may vary on the processing day from that in effect when the transaction is made.