What does the percentage in the text message I receive after a foreign currency transaction mean?

You will receive a free text message as soon as you transfer, withdraw or pay an amount in a currency other than euro. In that case, you will have to pay 1.75% extra on top of the amount of the transaction for foreign exchange charges for transactions in a foreign currency. The conversion into euro is done according to Mastercard International's exchange rate, based on the one of the European Central Bank (ECB). This text message shows you the difference (in %) between the reference rate of the ECB and the one of Mastercard (costs included). You will receive a text message for the transaction performed in the following currencies:

• Bulgaria (BGN)
• Croatia (HRK)
• Czech Republic (DKK)
• Denmark (DKK)
• Hungary (HUF)
• Iceland (ISK)
• Liechtenstein (CHF)
• Norway (NOK)
• Poland (PLN)
• Romania (RON)
• Sweden (SEK)

You can easily turn these text messages on or off using the form below.

In case of a foreign currency transaction, you will receive a text message showing you the difference (in %) between the reference rate of the European Central Bank (ECB) and the one of Mastercard (costs included).The following example will show you how this percentage is calculated. You can easily turn these text messages on or off using the form below. Country of transaction: Sweden Amount: 100 SEK (Swedish krona)
Amount in euro: 9.67989 EUR (1 SEK= 0.096799 EUR)
Exchange fees: 1.75 % of the amount converted into euro
Exchange rate Mastercard: 1 SEK= 0.096799 EUR Rate (including exchange fees) = 0.096799 EUR + 1.75% =0.0984928 EUR (= 1 SEK) Exchange fees for 1 SEK = 0.0016938 EUR (= 0.0984928 EUR – 0.096799 EUR) Total amount including fees (Mastercard fee) for 100 SEK = 9.67989 EUR + 0.16939 EUR = 9.8492 EUR Exchange rate ECB: 1 SEK = 0.09648 EUR
ECB exchange rate for 100 SEK = 9.6748 EUR Deviation rate without charges = (9.67989 EUR – 9.648 EUR)/9.648 EUR = 0.33%
Deviation rate with charges = (9.8492 EUR – 9.648 EUR)/9.648 EUR = 2.08%