How are foreign transactions handled and is there a fee?
The rate used to convert a foreign currency to U.S. dollars is either a government mandated rate or a wholesale rate (increased by a percentage determined by MasterCard). The currency conversion rate that MasterCard uses for a particular transaction is the rate in effect when the transaction is processed and may differ from the rate in effect on the purchase date or the statement posting date. Foreign transactions are subject to a fee of up to 1% of the transaction amount for conversion and/or processing, including any transaction where the merchant country is different than the country of the card issuer, regardless of whether currency conversion is performed. Randolph-Brooks does not charge an additional fee for foreign currency transactions.
