ISA Fee definition
Examples of ISA Fee in a sentence
An International Service Assessment (ISA) Fee of 1% will be applied to transactions that are converted from foreign currencies to U.S. dollars.
An International Transaction Assessment (ITA) Fee or International Service Assessment (ISA) Fee will be applied to each international transaction (i.e., a fee or transaction occurring in any country outside the United States of America, Puerto Rico or the U.S. Virgin Islands, and where the card-issuing financial institution’s country is different than the merchant’s country), whether or not foreign currency is converted.
Navy Federal’s records indicate that you are a member of the following Settlement Class and are entitled to submit a Claim Form to receive a cash Settlement Class Member Payment: All current and past Navy Federal Accountholders who were assessed at least one ISA Fee during the Class Period (from August 9, 2016, to March 24, 2023) for purchases made while they were physically located in the United States.
For example, an eligible Settlement Class Member who had an Actual ISA Fee of $6.50 will receive the $4.00 Base Settlement Class Member Payment and a $2.50 Additional Settlement Class Member Payment.
You will be charged an ISA Fee for each international transaction completed with your Visa® card when the country of the merchant or machine is different than your country as cardholder.
If there is no currency conversion (the transaction is completed in the same currency as your country as cardholder), the ISA Fee will be 0.8% of the transaction amount.
If you make a transaction involving only U.S.dollars with your MasterCard orVisa Card outside the United States of America, Puerto Rico, or the ▇.▇.▇▇▇▇▇▇ Islands, we will charge you an International Service Assessment Fee (“ISA Fee”) for each transaction amount as specified in the Pricing Information.Your Statement will show a total amount that includes the transaction amount in U.S. dollars plus the ISA Fee.
Therefore, transactions completed with your Visa® card will be subject to an International Service Assessment (ISA) Fee of 1.0% of the transaction amount when there is a currency conversion.
The case is a “class action.” That means the Class Representatives, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇, and ▇▇▇▇▇ ▇▇▇▇, are acting on behalf of all current and past Navy Federal Accountholders who were assessed at least one ISA Fee during the Class Period (August 9, 2016, to March 24, 2023) for debit card purchases made while they were physically located in the United States.
During the pendency of the Virginia Action, in 2022, Navy Federal clarified its ISA Fee practices in its Debit Card Disclosure which it disseminates to new members who open debit cards.