Common use of Transactions in Foreign Currencies and Transactions Processed Clause in Contracts

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 Mastercard International, depending on whether the conversion is done by us or Mastercard International. (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. 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 Mastercard International on the converted Singapore dollar amount if it is a 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 to an administrative fee of 1% on the transaction amount if the card transaction is processed by Mastercard International. This charges will be charged on card transactions including but not limited to any Mastercard retail card transaction presented in foreign currency that you choose to pay in Singapore Dollars at point-of-sale via dynamic currency conversion or any online Mastercard retail card transaction in Singapore Dollars which was processed outside Singapore. You may have to check with the relevant merchant whether such transaction was processed outside Singapore.

Transactions in Foreign Currencies and Transactions Processed. Outside SingaporeOUTSIDE SINGAPORE a. (A) Foreign currency transactions (i) Card retail transactions (including online and overseas transactions) effected MasterCard transactions in US dollars shall be converted to Singapore dollars on the date of conversion. MasterCard transactions in foreign currency other than 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. 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 MasterCard International. The rate used for the conversion will take place may be different from the rate in effect on the date on which of the transaction is received and recorded due to market fluctuation. All debit card retail transactions in foreign currency are subject to a charge imposed by us (“posting date”). The currency conversion will be based on our prevailing foreign exchange rate or an exchange rate determined by Mastercard the MasterCard International, depending either as a reimbursement charge representing the charge imposed on whether the conversion is done by us or Mastercard International. (ii) as a direct charge to you. For foreign currency retail transactions converted by MasterCard, a conversion factor of 1% is applied on the converted amount. In addition, the card transaction will be subject to an administrative fee of up for services provided or actions taken by us in relation to 3.0such foreign currency transactions shall be payable by you and debited from your Card Account. Our prevailing administrative fee is 2.25% (revised to “up to 3.25%” from 15 December 2019) on the converted Singapore dollar Dollar amount if processed by for foreign currency retail transactions involving MasterCard International or at any other such other rate(s) rate as determined by us and notified to you. Total administrative fee is 3.25%. b. Dynamic Currency Conversion(B) Cash Withdrawal at Overseas ATMs The amount withdrawn at overseas ATMs is 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. For overseas cash withdrawal transactions converted by MasterCard association, a conversion factor of 1% is applied on the converted amount. In addition, an administrative fee of 2.25% on the converted Singapore dollar amount for the services provided or actions taken by us in relation to such overseas cash withdrawal shall be payable by you and debited from your Card Account. Total administrative fee is 3.25%. There is a service charge of S$5 per cash withdrawal on overseas Cirrus ATMs. You will enjoy a preferential flat service charge of S$2 if you use your Cirrus Card at the ATMs of Bank of Central Asia (BCA, Indonesia), Bank of Philippines Island (Philippines) or at the ATMs of HDFC (India). Cash withdrawal will be free of charge if you use your Cirrus Card at DBS Hong Kong, DBS Taiwan and Westpac Group ATMs in Australia (Westpac, St. Xxxxxx Bank, Bank of Melbourne and BankSA). (iC) Dynamic currency conversion If your card transaction (including online and overseas transactions) is converted into to Singapore dollars via dynamic currency conversion (a service offered at certain ATMs and selected merchants which allows a cardmember to convert a transaction denominated in a foreign currency to Singapore Dollars at the point of withdrawal/saleor websites), you acknowledge that the process of conversion and the exchange rates applied will be determined by the relevant ATM operatorrelevant, merchant or dynamic currency conversion service provider, as the case may be. You acknowledge that we do not determine whether a All card transaction will be transactions which are 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 12.8% levied by Mastercard International on the converted Singapore dollar amount if it is amount, comprising a 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 to an administrative fee of 1% on the transaction amount if the card transaction is processed by Mastercard International. This charges will MasterCard, which shall be charged on card transactions including but not limited to any Mastercard retail card transaction presented in foreign currency that payable by you choose to pay in Singapore Dollars at point-of-sale via dynamic currency conversion or any online Mastercard retail card transaction in Singapore Dollars which was processed outside Singapore. You may have to check with the relevant merchant whether such transaction was processed outside Singaporeand debited from your Card account.