Common use of Payment Currency Currency Conversion Clause in Contracts

Payment Currency Currency Conversion. Payments must be made to Issuer in U.S. dollars drawn on a U.S. bank. When you use your VISA-branded Credit Card at a merchant that settles in currency other than U.S. dollars, the charge will be converted into the U.S. dollar amount. The currency conversion rate used to determine the transaction amount in U.S. dollars is either: (a) a rate selected by VISA from the range of rates available in wholesale currency marketing for the applicable central processing date, which rate may vary from the rate VISA itself received; or (b) the government-mandated rate in effect for the applicable central processing date; or (c) in each instance, plus or minus any adjustment determined by the Card Issuer. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date. If you use your VISA Card for any international transaction, you will not be assessed a Foreign Transaction Fee.