Common use of Transactions Made in Foreign Currencies Clause in Contracts

Transactions Made in Foreign Currencies. Transactions made in currencies other than United States Dollars will be converted to United States Dollars under the then current regulations of VISA®, MasterCard® or the VISA®/PLUS® ATM Network. Those regulations currently provide that the conversion rate may be either (1) a wholesale market rate or (2) a government-mandated rate. VISA® and MasterCard® currently use the rate in effect on the date they process your transaction. The currency conversion rate in effect on the date your transaction is processed may differ from the rate in effect on the transaction date or the posting date. The VISA®/PLUS® ATM Network currently uses the rate in effect on the transaction date.