Transactions in Foreign Currencies and Transactions Processed Outside Singapore a) Foreign currency transactions
(i) Card transactions (including online and overseas transactions) effected in US dollars will be converted into Singapore dollars. Card transactions effected in foreign currencies other than US dollars will be converted to US dollars before being converted into Singapore dollars, except for Australian dollars on Visa cards which will be converted into Singapore dollars directly. The conversion will take place on the date on which the transaction is received and recorded by us (“posting date”). The currency conversion will be based on our prevailing foreign exchange rate or an exchange rate determined by VISA or Mastercard International depending on whether the conversion is done by us, VISA or Mastercard International.
(ii) In addition, the card transaction will be subject to the following administrative fees on the converted Singapore dollar amount: an administrative fee of up to 3.25% if processed by VISA or Mastercard International or such other rates(s) as determined by us and notified by you.
b) Dynamic Currency Conversion
(i) If your 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 card 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 card transaction will be subject to an administrative fee of 1% levied by VISA or Mastercard International on the converted Singapore dollar amount if it is a VISA or Mastercard International transaction.
c) Singapore Dollars transactions processed outside Singapore If the Singapore Dollars card transaction (including online transactions) is effected:
(i) with a local merchant whose payments are processed through an overseas intermediary; or
(ii) with a merchant who is registered as an overseas merchant regardless of its actual location, such card transaction will be subject...
Transactions in Foreign Currencies and Transactions Processed Outside Singapore. (a) Foreign currency transactions
(i) Card transactions (including online and overseas transactions) effected in US dollars and Australian dollars will be converted into Singapore dollars. Card transactions effected in foreign currencies other than US dollars and Australian dollars will be converted to US dollars before being converted into Singapore dollars. The conversion will take place on the date on which the transaction is received and recorded by us (“posting date”). The currency conversion will be based on our prevailing foreign exchange rate or an exchange rate determined by VISA depending on whether the conversion is done by us or VISA.
(ii) In addition, the card transaction will be subject to an administrative fee of up to 3.0% (revised to “up to 3.25%” from 15 December 2019) on the converted Singapore dollar amount if processed by MasterCard International or such other rate(s) as determined by us and notified to you.
Transactions in Foreign Currencies and Transactions Processed Outside Singapore. Foreign Currency Transactions
14.1 All foreign currency transactions (including overseas and online transactions) effected in US Dollars will be converted to Singapore Dollars on the date of conversion. All foreign currency transactions effected in a foreign currency other than US Dollars will be converted into US Dollars before being converted into Singapore Dollars (the “converted Singapore Dollars amount”). The exchange rate used for such conversion may differ from the rate in effect on the date of the transaction due to market fluctuations. Any rate imposed is final and conclusive and you bear all exchange risks, loss, commission, and other bank costs which may be incurred as a result. All conversions will be based on the prevailing wholesale interbank rates or the government-mandated rate, as shall be determined by MasterCard International (“MasterCard”) or such other card association or payment network.
14.2 In addition, all foreign currency transactions (including overseas and online transactions) charged to the Card will be subject to prevailing charges and fees as set out in our Fee Table.
14.3 An additional fee will be levied on all card transactions effected in Singapore Dollars and processed overseas (including online transactions). These include but are not limited to (i) any Visa or MasterCard retail transaction presented in foreign currency that you choose to pay in Singapore Dollars via dynamic currency conversion, and (ii) any online retail card transaction charged to your Card on overseas websites in Singapore Dollars. You acknowledge and agree that the process of conversion and the exchange rate applied will be determined by the relevant merchant, the acquiring bank, the relevant payment processing intermediary or currency conversion service provider and not by us. All such card transactions effected in Singapore Dollars and processed overseas (including online transactions) will be subject to prevailing charges and fees as set out in our Fee Table.
Transactions in Foreign Currencies and Transactions Processed Outside Singapore a. Foreign currency transactions
(i) Card transactions (including online and overseas transactions) effected in US dollars will be converted into Singapore dollars. Card transactions effected in foreign currencies other than US dollars will be converted to US dollars before being converted into Singapore dollars. The conversion will take place on the date on which the transaction is received and recorded by us (“posting date”). The currency conversion will be based on our prevailing foreign exchange rate or an exchange rate determined by American Express depending on whether the conversion is done by us or American Express.
(ii) In addition, the card transaction will be subject to an administrative fee of up to 3.3% on the converted Singapore dollar amount, of which 1.5% will be retained by American Express, or such other rate(s) as determined by us and notified to you.
Transactions in Foreign Currencies and Transactions Processed Outside Singapore. 9.1 Foreign currency retailtransactions Transactions in US dollars shall be converted to Singapore dollars on the date of conversion. Transactions in foreign currency other than US Dollars will be converted into US dollars before being converted into Singapore dollars. All conversions shall be based on the prevailing wholesale interbank rates or the government-mandated rate, as shall be determined by the respective card associations, namely Mastercard International. The rate used for the conversion may be different from the rate in effect on the date of the transaction due to market fluctuation. All transactions in foreign currency (including refunds and reversals) are subject to a charge imposed by the respective card associations, either as a reimbursement charge representing the charge imposed on us or as a direct charge to you. An administrative fee for services provided or actions taken by us in relation to such foreign currency transactions shall be payable by you and debited to your Card Account. The prevailing administrative fee is 2.25% of the foreign currency transaction amount for transactions involving Mastercard International.
