Transactions in Foreign Currencies
Card transactions effected in US dollars will be converted into Singapore dollars. Card transactions effected in foreign currencies other than US dollars will be converted to US dollars before being converted into Singapore dollars. The conversion will take place on the date on which the transaction is received and recorded by us ("posting date"). The currency conversion will be based on our prevailing foreign exchange rate or an exchange rate determined by VISA, MasterCard International, or American Express depending on whether the conversion is done by us ,VISA, MasterCard International, or American Express.
Notwithstanding clause (a), if your card transaction (including online card transaction) is converted into Singapore dollars via dynamic currency conversion (a service offered at certain ATMs and merchants which allows a cardmember to convert a transaction denominated in a foreign currency to Singapore Dollars at the point of withdrawal/sale), you acknowledge that the process of conversion and the exchange rates applied will be determined by the relevant ATM operator, merchant or dynamic currency conversion service provider, as the case may be. You acknowledge that we do not determine whether a card transaction will be converted into Singapore dollars via dynamic currency conversion and, where your card transaction is for a retail purchase, you may have to check with the relevant merchant whether such conversion was done.
All Visa card transactions which are converted pursuant to clause (a) will be subject to an
administrative fee of up to 2.5% on the converted Singapore dollar amount, or such other rate as determined by us and notified to you. All Visa retail card transactions presented in foreign currency that you choose to pay in Singapore Dollars at point-of-sale via dynamic currency conversion or any online Visa retail card transactions on overseas websites in Singapore Dollars will be subject to an
administrative fee of 0.8% on the transaction amount, or such other rate as determined by us and notified to you.
All card transactions which are converted pursuant to clause (a) and (b) and which are processed by MasterCard International will be subject to:
the following charges which will be levied by MasterCard International on the converted Singapore dollar amount:
(1)
1% for card transactions in currencies other than Singapore dollars incurred outside of Singapore;
(2)
0.2% for card transactions in currencies other than Singapore dollars incurred in Singapore; and
(3)
0.8% for card transactions in Singapore Dollars incurred outside of Singapore
an
administrative fee of up to 1.5% on the converted Singapore dollar amount, or such other rate as determined by us and notified to you.
All card transactions which are converted pursuant to above clause (a) and which are processed by American Express will be subject to an
administration fee of up to 3.3% on the converted Singapore dollar amount, of which
1.5% will be retained by American Express, or such other rate as determined by us and notified to you.
http://www.citibank.com.sg/gcb/static/banking_fees.htm?lid=SGENCBGDPMITLUnderstandbankingfees
http://www.citibank.com.sg/global_docs/pdf/banking_fees.pdf
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