Rate cards
With Barclaycard Multicurrency, you'll get access to foreign exchange rates in your chosen settlement currency (GBP, EUR or USD). Scroll down and use the drop-downs to see 1-day and 7-day mid-rates. We've included examples of how to work out your settlement amounts at the end of this page.
Working out your settlement amount
Here's an example where we've calculated the settlement amount for a payment processed in USD ($) and settled in GBP (£). We’ve identified how the amount payable by the merchant on a refund could be different if the mid-rates listed on the applicable rate card change between the dates of payment and refund.
Before you begin, you’ll need to have the original transaction or refund value, the loading percentage we’ve agreed with you, and the mid rate from the selected rate card.
Steps |
Description |
|---|---|
|
1. Transaction value |
check the original transaction amount |
|
2. Mid rate |
find the mid rate on the date the payment was processed |
|
3. Fixed rate |
divide 1 by the mid rate [2.] |
|
4. Loading rate |
calculate your loading (e.g. 1% = 0.01) from the fixed rate [3.] |
|
5. Customer rate |
deduct the loading rate [4.] from the original fixed rate [3.] |
|
6. Settlement or refund amount |
multiply the transaction value [1.] by your customer rate [5.] |
Settlement (w/ calculation)
|
|---|
|
Transaction value = $100 |
|
Mid rate = 1.4 |
|
1/1.4 = 0.714285 |
|
0.01 x 0.714285 = 0.007142 |
|
0.714285 - 0.007142 = 0.707143 |
|
100 x 0.707143 = £70.71 |
Refund* (w/o calculation)
|
|
|---|---|
|
$100 |
$100 |
|
1.3 |
1.5 |
|
0.76923 |
0.666667 |
|
0.007692 |
0.006667 |
|
0.761538 |
0.66 |
|
£76.15 |
£66.00 |
*Refund examples are shown to illustrate a change of mid rate against and in favour of merchant. Where there is no change to the mid rate between the date of payment and date of refund, the amount payable by the merchant on a refund will be the same as the original settlement amount.
Key terms
Rate card means either the 1-day or 7-day exchange rates (i.e. the mid-rates) listed on this page. You should use the 1-day rate cards for your chosen settlement currency unless we’ve agreed that you will be on a 7-day rate card.
Fixed rate means the inverse of the mid-rate showing on the rate card.
Loading means the relevant charge (i.e. loading percentage) set out in your agreement as applicable to the currency conversion.