Cross-Border Transaction Fee Sample Clauses
A Cross-Border Transaction Fee clause establishes the requirement for additional charges when transactions occur between parties in different countries. Typically, this clause specifies the percentage or fixed amount to be added to the transaction total to cover costs such as currency conversion, international banking fees, or compliance with foreign regulations. Its core function is to allocate the financial burden of cross-border expenses, ensuring that both parties are aware of and agree to the extra costs associated with international dealings.
Cross-Border Transaction Fee. In addition, MasterCard charges a Cross-Border Assessment of 1.5% on each transaction on all cross-border transactions regardless of whether there is a currency conversion. For purposes of this Section, “cross-border transaction” shall include both (a) transactions initiated in a foreign country which are subsequently settled in the United States, and (b) transactions initiated in the United States but which are ultimately settled in a country outside of the United States, meaning settled through a foreign financial institution. A “Cross-Border Transaction” is any transaction (1) made in a foreign currency, or (2) made in U.S. dollars if the transaction is made or processed outside of the United States. Cross Border Transaction include, for example, online transactions made in the U.S. but with a merchant who processes the transaction in a foreign country. If you make a Cross-Border Transaction, we will assess the Cross-Border Transaction Fee. A Cross-Border Transaction (or foreign transaction) is any transaction that you complete or a merchant completes on your card outside of the United States, Puerto Rico, and the U.S. Virgin Islands or U.S. Military bases, regardless of whether you are physically located inside or outside of the United States or initiate the transaction inside or outside the United States. The Credit Union will assess these fees to when the transaction occurs. This rate may differ from the rate in effect on the date the transaction was posted to your account. The “Cross-Border Transaction Fee” is applies to each “transaction”; including cash advances, purchases and credits to your account. For example, each purchase is a “transaction”; each cash advance is a second “transaction.” And each “transaction” will be assessed a Cross- Border Transaction Fee. A Cross-Border Transaction Fee of 1.5% will be applied to each transaction that qualifies as a Cross-Border Transaction; including cash advances, purchases and credits to your account. The Cross-Border Transaction Fee is in addition to the Currency Conversion Fee specified above.
Cross-Border Transaction Fee. MasterCard will assess a percentage to any transaction conducted using a credit or debit Cirrus®, Maestro®, or MasterCard card in a currency other than US Dollars. This fee is included in the total amount of your debit card charge when it is debited to your account.
Cross-Border Transaction Fee. In addition, VISA™ charges us a Cross-Border Assessment up to 1% on each transaction on all cross border transactions regardless of whether there is a currency conversion. For purposes of this Section, “cross-border transaction” shall include both