Mastercard exchange rates

This information applies to Countingup and MoneySuperMarket Business Banking customers.

When you use your Countingup or MoneySuperMarket Business Banking card to pay in a foreign currency, Mastercard sets the exchange rate used to convert the payment into pounds.

Updating rates…

How exchange rates work

Exchange rates can vary between providers. The European Central Bank publishes reference rates to make them easier to compare.

When you pay in a foreign currency, Mastercard sets the exchange rate used to convert your payment into pounds. This may be different from the ECB reference rate.

Banks and payment providers are required to show how their exchange rate compares with the ECB rate, making it easier to compare the cost between providers.

Foreign transaction fees

A 3% foreign transaction fee applies to clear the transaction when you use your business card to pay in a foreign currency. This fee is charged separately from the Mastercard exchange rate shown above.

Let’s look at a example: If you buy something abroad in a foreign currency and the purchase is worth £100 after conversion, you’ll be charged a £3 foreign transaction fee to clear the transaction. This will be charged separately.