What is the currency markup fee on a credit card? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is the currency markup fee on a credit card?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

When you use the card to buy in a currency other than the Egyptian pound (whether online or abroad), the bank converts the amount from US dollars/euros into EGP at the official daily exchange rate, then adds a markup fee currently in the region of 10% of the transaction value in return for sourcing the foreign currency.

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