Dynamic currency conversion for card payments: disclosing the mark-up over the ECB exchange rate

Do you offer a customer in the EU the option to pay by card in their own currency rather than the currency of your country or website? If so, at the time of purchase you must inform them of all charges associated with the currency conversion you offer.

Express the charges as a percentage mark-up over the latest available euro reference exchange rates issued by the European Central Bank (ECB).

This is a disclosure requirement for the currency conversion offered — not a requirement to offer customers that service.

Source: Your Europe, “Electronic and cash payments”, “Dynamic currency conversion” section.