Luxembourg Currency Conversion Charges

In order to enhance transparency for you, we are pleased to provide you with an overview of the total currency conversion charges applied as a percentage mark-up over the latest available Euro exchange reference rate issued by the European Central Bank (ECB) for your MasterCard® transactions in EEA country currencies.

The exchange rates applied by Credit Suisse (Luxembourg) S.A. for the currency conversion related to credit card transactions are based on the exchange rate including mark-up set by MasterCard® (“wholesale rate of exchange”). In addition, a currency conversion fee of 1.5% is applied by the Bank. For more details, please refer also to section “Exchange rates for CREDIT SUISSE Word Elite Master Card” in our Table of Fees and Commissions.

Please note: The foreign exchange rates used for calculating the mark-ups are specific to the date and time MasterCard® processes the transaction which may be different from the transaction date. If your transaction is converted by the merchant or ATM operator, the wholesale rate of exchange set by MasterCard® and our mark-up will not apply. This will usually occur when you select to pay in your card's currency as opposed to the currency of the merchant or ATM.

Regulatory Compliance

In accordance with regulatory requirements, Credit Suisse (Luxembourg) S.A. publishes the total currency conversion charges as percentage mark-up over the latest available Euro foreign exchange reference rate issued by the European Central Bank for credit card transactions.

Reference Rates of the European Central Bank

The Euro foreign exchange reference rates of the European Central Bank are usually updated around 16:00 CET on every working day, except on TARGET closing days. For further information, please refer to ECB’s website.