What is the conversion fee for Mastercard?

MasterCard's Cross Border Fee (CBF) is a currency conversion fee that applies when a cardholder uses their card for transactions in a foreign currency. This fee is imposed by MasterCard and is separate from any fees charged by the issuing bank or merchant.

The CBF is calculated as a percentage of the transaction amount and can vary depending on the card issuer and the type of transaction. However, when a card is accepted by a foreign merchant in the same currency as the charge card was issued, the CBF is reduced to 0.8%.

This reduction in the CBF can be beneficial for cardholders who frequently travel or make purchases in foreign currencies. It can help to minimize the overall cost of their transactions and make it more convenient for them to use their cards abroad.

In addition to the CBF, cardholders should also be aware of other fees that may be associated with their cards, such as foreign transaction fees charged by the issuing bank. These fees can vary widely and can significantly increase the cost of using a card for international transactions.

One way to avoid or minimize these fees is to use a card that does not charge foreign transaction fees. Alternatively, cardholders can consider using a cryptocurrency exchange such as BTCC, which offers a range of services including spot and futures trading, as well as a wallet for storing digital assets.