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Foreign Currency Surcharge |
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A Foreign currency surcharge is a fee that major credit card issuers are starting to charge for certain transactions. When a credit card purchase is made in a country different than the cardholder’s home country, the dollar amount of that purchase must be converted into the currency of the cardholder’s home country. The foreign currency surcharge is the fee associated with such currency conversion. Sometimes the foreign currency surcharge is charged even on purchases made in the home currency, such as when using a major credit card for purchases made while on cruise ships. The foreign currency surcharge is frequently calculated as a percentage of the purchase.
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Credit Card Definitions > F - M > Foreign Currency Surcharge
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