Foreign transaction fee - Credit Card Terms and Glossary

		Credit Card Glossary: Terms and Definitions
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Foreign transaction fee: Foreign transaction fees are charged by most credit card companies on purchases made in a foreign currency, or on purchases that involve a foreign bank (regardless of whether a foreign currency is used). Usually, foreign exchange fees are a percentage of the amount of each foreign currency purchase, with no minimum or maximum. Sometimes this fee is called a foreign exchange fee. It once was called a currency conversion fee. Foreign transaction fees are charged by U.S. transaction processors such as Visa and MasterCard. The card issuing bank may choose to pass that fee along to consumers; most do, and some tack on their own fees.

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		Wednesday, May 22nd 2013

Credit Card Glossary: Terms and Definitions