Foreign Currency Surcharge

Definition

  • A new charge imposed by some credit card issuers that imposes a fee on purchases made in a foreign currency.

Synonyms
foreign tender surcharge, foreign money surcharge, foreign cash surcharge

Related Terms and Acronyms

  • ATM Surcharge Definition,
    • A fee charged to someone using a bank-owned ATM because he or she does not hold an account with that bank. It is a good idea to review what your bank charges you to use another bank's ATM system to avoid paying additional surcharges to your bank.
  • Credit Card (CC) Acronym, Very Important,
    • A plastic card with a coded magnetic stripe that, when signed, entitles its bearer to a revolving line of credit, with a credit limit and interest rate determined by the borrower's income and credit report.
    A payment card that gives customers access to a revolving line of credit.
  • Debit Card (DC) Acronym, Important,
    • A payment card that is linked directly to a customer's bank account. Some cards require a personal identification number. Others require a customer's signature. A PIN-based or direct debit card removes a purchase price from a customer's chequing account almost immediately. A signature-based or deferred debit card has a Visa or MasterCard logo and removes the purchase price from a customer's bank account in two or three days.
  • Foreign Currency (FCY) Acronym,
    • Paper money and coins from other countries.
  • Foreign Exchange (FX, F/X, FOREX, FE) Acronym,
    • Various instruments used to settle payments for transactions between individuals or organizations using different currencies (e.g., notes, cheques, etc.).
    Bank account transaction code.
  • Foreign Exchange Rate (FXRate) Abbreviation,
    • The value of a nation's currency in terms of another nation's currency
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