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Foreign currency transactions with your Bankomatiko+

Foreign currency transactions from your Savings Account with your Bankomatiko+/Mastercard debit card

Important Notice: Using your Savings Account for foreign currency transactions with your Bankomatiko+/Mastercard Debit Card:

Starting in June 2024, when you use your Bankomatiko+/Mastercard debit card to purchase an item online or at a store (using the Point-of-Sale terminal) in a foreign currency (excluding NAf., AWG, USD) and choose your Savings account for the payment, an extra 5% will be added during authorization to cover currency exchange fluctuations.

The following exclusions apply:

ATM Transactions: The foreign currency fluctuation percentage of 5% does not apply to ATM cash withdrawals from your Savings Account made with your Bankomatiko+/Mastercard debit card.
Specific Currencies: The foreign currency fluctuation percentage of 5% is not applied to purchases made in NAf. (Netherlands Antillean Guilder), AWG (Aruban florin) and US$ (United States Dollar).
Checking Account Transactions: This percentage does not apply when selecting Checking Account for purchases in any currency, made with the Bankomatiko+/Mastercard debit card.

The foreign currency fluctuation percentage is applied to protect against currency rate fluctuations:

This percentage covers potential currency rate changes between the time the client makes a purchase (Hold) and when the transaction is finalized (settled) in the client’s account. After the transaction is processed, any difference between the initial authorization amount (including any percentage changes) and the final settled amount will be adjusted in the client's Savings Account.
This foreign currency fluctuation percentage helps ensure that transactions made by our clients are not adversely affected by currency exchange rate changes.

Alternative payment option: Please note that you can easily and immediately transfer funds between your own accounts with MCB Mobile Banking. Click here to register for MCB Mobile Banking.

For any questions related to the above, please contact us at: [email protected]

Questions and Answers

When will the new rule for foreign currency transactions using the Bankomatiko+/Mastercard debit card take effect?

The new rule will take effect in June 2024.

What is the additional percentage added to foreign currency transactions when using the Savings Account for payment?

An additional 5% is added to foreign currency transactions when using the Savings Account for payment.

Which types of transactions are excluded from the 5% foreign currency fluctuation fee?

The following transactions are excluded from the 5% foreign currency fluctuation fee:

ATM cash withdrawals from the Savings Account made with the Bankomatiko+/Mastercard debit card.
Purchases made in NAF (Netherlands Antillean Guilder), AWG (Aruban florin), and USD (United States Dollar).
Transactions made using the Checking Account for purchases in any currency with the Bankomatiko+/Mastercard debit card.

Why is the 5% foreign currency fluctuation fee applied to Savings Account transactions?

The 5% foreign currency fluctuation fee is applied to cover potential currency rate changes between the time a purchase is made and when the transaction is finalized, ensuring that transactions are not adversely affected by currency exchange rate changes.

How will the Savings Account be adjusted after the transaction is processed?

After the transaction is processed, any difference between the initial authorization amount (including the 5% fee) and the final settled amount will be adjusted in the client's Savings Account.

What alternative payment option is suggested to avoid the 5% foreign currency fluctuation fee?

Clients can use MCB Mobile Banking to transfer funds between their own accounts (from Savings to Current account) as an alternative payment option to avoid the 5% foreign currency fluctuation fee.

How can clients register for MCB Mobile Banking?

Clients can register for MCB Mobile Banking by clicking on the provided registration link.

Who should clients contact if they have questions related to the new foreign currency transaction rule?

Clients should contact customer support at [email protected] if they have any questions related to the new foreign currency transaction rule.