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See the updated conversion scheme when performing a card transaction
The transaction is reflected on the account in the currency in which the transaction was performed. If there is not enough balance on the relevant currency account, the amount will be collected at the commercial exchange rate of the bank at the time of overlap, considering the priority of the balance or overdraft.
Example #1:
A universal account containing 100 GEL, 50 USD, and 50 EUR, as well as a 100 GEL overdraft that has been enabled. The following are the currency priorities specified by the client:
The transaction was performed with a plastic card in GEL, for example, if the transaction cost 250 GEL, 250 GEL must be deducted from the universal account to settle this transaction.
Regardless of the main currency, GEL 250 will be deducted from the GEL account as the settlement currency for GEL transactions is GEL.
Notice: In case the balance on the USD account is not enough to cover GEL 150, the remaining amount will be covered by converting the next priority currency at the commercial exchange rate set by the bank until the GEL account is filled.
Example #2:
The transaction was performed with a plastic card in GBP, for example, if the transaction cost 50 GBP, 50 GBP must be deducted from the universal account to settle this transaction.
Regardless of the main currency, 50 GBP will be deducted from the GBP account as the settlement currency for GBP transactions is the GBP.
For transactions in currencies other than the GEL, USD, EUR, and GBP, the settlement currency is USD, therefore such transactions are recorded in the USD account. The transaction currency is converted to US Dollars at the rate of VISA / MC. The VISA / MC exchange rate at the time of a transaction may differ from the exchange rate on the day the transaction is processed. 1.00% of the transaction amount will be added to the transaction amount when performing the settlement with a VISA card.
On the universal account with 100 GEL, 1 USD, and 50 EUR, the following are the currency priorities specified by the client:
The transaction was performed with a plastic card in Turkish lira, for example in the amount of TRL 50, to settle this transaction from the universal account, the equivalent of 50 TRL in USD must be deducted at the exchange rate of VISA / MC, because the currency of settlement of transactions in currencies other than GEL, USD, EUR, GBP is USD.
The equivalent of TRL 50 in USD, which is calculated at the VISA / MC exchange rate, will be deducted from the US dollar account, and insufficient balances for payment will be collected according to the currency priority in GEL, EUR, and GBP.
If the transaction is carried out in the currency of the account, the amount is reflected in the account without conversion, and the transaction performed in a currency other than the account currency is reflected in the account by conversion:
Example #1:
The transaction was performed with a plastic card in USD, for example for USD 50, the transaction is settled in USD, but since the client's account is open only in GEL the transaction is reflected in the GEL account at the commercial exchange rate of the bank.
Example #2:
The transaction was performed with a plastic card in TRL, for example in the amount of TRL 50, the transaction is settled in US dollars at the exchange rate of VISA /MC. When carrying out the transaction with a Visa card, 1.00% of the transaction amount will be added to the amount of the transaction. Since the client's account is open only in GEL the transaction is reflected in the GEL account at the commercial exchange rate of the bank.
VISA and MasterCard exchange rates are available at the following links:
VISA: https://www.visa.com.ge/en_GE/support/consumer/travel-support/exchange-rate-calculator.html
MasterCard: https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html
