SimpledCard makes it easy to check the exchange rates of completed transactions. Each time you complete a cross-border transaction, the exchange rate is displayed in the Card Management System.
Transactions made with a SimpledCard payment card in a currency other than euro (the currency of the card) are automatically converted to euro at the Mastercard conversion rate. The conversion rates are shown on Mastercard’s website. Unlike many other banks and payment solution providers, SimpledCard itself does not add any fees.
When you choose to convert a transaction at the ATM or payment terminal itself, the conversion will be carried out by another party. A different exchange rate will apply and extra costs may be charged by this party. They are obliged to inform you during the transaction. The exchange rates for these specific transactions are not shown in the SimpledCard system.
For SimpledCard users, nothing really changes with the CBPR2 amendment. SimpledCard transactions remain favorable. This is now even more transparent thanks to the exchange rate report. Within the SimpledCard system, you can download a report of all cross-border transactions with corresponding conversion rates at any time.