Common use of Foreign Visa Transactions Clause in Contracts

Foreign Visa Transactions. If you effect a transaction with your Visa card in a currency other than U.S. dollars, Visa International Incorporated will convert the charge into a U.S. dollar amount. Visa International will use its currency conversion procedure, which is disclosed to institutions that issue Visa cards. Currently the currency conversion rate used by Visa International to determine the transaction amount in U.S. dollars for such transactions is generally either a government mandated rate or a wholesale rate determined by Visa International for the processing cycle in which the transaction is processed, increased by one percentage point. The currency conversion rate used by Visa International on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.