Exchange rates for card transactions

How is exchange rate determined when I make purchases or take out cash on my card in a non-euro currency?

Convert currency into euros with a currency calculator

You can easily convert the amounts spent and taken out from an ATM on an OP card into euros with a currency calculator. 

The calculator gives you an estimated exchange rate. The used rate will always be shown in your card transactions, meaning the debits from your account, or on your credit card bill.

What’s the best way to pay when travelling?

A card is a more comfortable and safer option abroad than cash. OP’s Visa cards and Mastercards work reliably everywhere.

Choose a local currency when paying

When paying with a card outside the euro area, you can often choose between the local currency or the euro. When you choose to pay in the local currency, the exchange rate used is always Visa or Mastercard’s wholesale exchange rate plus OP’s currency conversion fee, and the merchant does not charge a separate fee for the currency exchange. If you choose euro as the currency, the merchant may charge a significantly higher fee for the currency exchange.

In Sweden, for example, it pays to choose the Swedish Krona (SEK) instead of a euro payment offered by the merchant. 

Get cash cheaper by taking out money from an ATM in the destination country

You can take out money from an ATM abroad with any OP card. If euros are not used in your destination country, the cheapest way of getting cash is taking out money from an ATM in the country visited. It also pays to make any withdrawal from an ATM in the destination country’s currency. In such a case, you’ll be using OP’s currency exchange service.

The exchange rate of an ATM withdrawal is often lower than the rate used by foreign exchange outlets. 

How much does it cost to use the card abroad?

In the euro area, using the card and credit costs the same as in Finland. An exception to this is when you withdraw cash at an ATM using your credit card. Each credit withdrawal costs 2 euros and 2.75% of the amount you withdraw. 
When using your card in a country that has a non-euro currency, the amounts spent or taken out from an ATM are converted into euros by using the so-called wholesale exchange rate. 
Visa and Mastercard have their own wholesale exchange rates. The rate varies daily. Your card transaction will be converted into euros using the rate valid on the day when Visa or Mastercard receives your card transaction. This is why different rates may be applied to purchases or withdrawals you have made on the same day. It often takes 1–3 days to transmit the transaction information. 
Outside the euro area, for each purchase or withdrawal amount, OP charges a conversion fee that is 2.5% of the amount. Additionally, each withdrawal costs 2 euros and 2.75% of the amount you withdraw. 
In most cases, paying in the local currency is the most inexpensive way to pay with a card. In that case, the exchange rate is determined by your own bank and you can avoid unpleasant surprises. If you choose conversion of the currency into euros at the time of payment, the merchant will charge a fee of its own. 
See our Charges and Fees