Currency conversion for payment card transactions.
Currency conversion
The card account, to which the payment card is attached, can be opened in one of the following currencies: MDL, USD, and EUR.
Payments can be made in any currency, regardless of the currency of the card account.
If the card account currency is different from the transaction currency (cash withdrawal, payment for goods/services, etc.), the transaction amount is converted into the transaction currency from the card account currency.
Three currencies are always used in the conversion process
The currency of the cardholder’s account
IMPORTANT: for transactions where the transaction currency is EUR/USD and the currency of the card account is EUR/USD, for VISA/MasterCard cards, settlement from the card account takes place in the transaction currency, without conversion.
Settlement currency of the issuing Bank with the payment system:
- For MasterCard – the settlement currency is EUR.
- For VISA – the settlement currency is USD.
Transaction currency – the currency in which payment or withdrawal of money from the ATM is made.
When does the conversion take place?
Conversion for payment cards takes place as follows: the currency, in which the payment card transaction takes place, is compared to the settlement currency, which, in turn, is compared to the currency of the card account. If the transaction currency does not match the settlement currency and/or the settlement currency does not match the currency of the card account, then the conversion takes place.
How does the conversion take place?
When the transaction currency is compared to the settlement currency (EUR or USD) and does not match, then the conversion takes place at the rate of the payment system. Then, if the currency of the settlement does not match the currency of the card account, then the conversion takes place at the commercial rate of the Bank, for transactions with payment cards. This exchange rate is established every day, at the close of the operational day: on weekdays, at around 19:00 – 20:00; on non-working days and at the end of the month, at around 17:00 – 18:00. The exchange rate is published on the website of the Bank. The commercial rate for payment card transactions may differ from the official rate of the NBM, the rates of the payment systems and/or the commercial rates of the Bank for cash operations in foreign currency.
Conversion scheme, where:
- GBP – transaction currency, any currency other than MDL, USD, EUR.
- Visa exchange rate – VISA exchange rate.
- MC exchange rate – MasterCard exchange rate.
- MICB exchange rate – exchange rate for Moldindconbank cards.
For additional information, please contact the Card Support Service at the phone number: (+373) 22 71 71 71 or learn more on the website.