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 money surcharge, foreign tender 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 (FOREX, F/X, FE, FX) — 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
