Conversion between the card accounts

If you frequently use a bank card, make transactions on POS terminals and ATMs in different currencies, the conversion scheme offered for the transactions made via TBC Bank's card is tailored to your needs and focuses on your satisfaction. 


SCHEME FOR CURRECNY EXCHANGE BETWEEN THE ACCOUNTS – EXAMPLE NO 1

How currency exchange between the card accounts and deduction of funds is carried out?

Amount for the transaction carried out via the plastic card is deducted from the currency account, in which the funds have been used. If the customer has card account in the transaction currency, the transaction amount will be deducted from the account of the relevant currency, and the amount not sufficient for the transaction will be repaid based on currency priority.

Full amount of USD 100 will be deducted from US Dollar account, and 1 (one) USD equivalent amount will be accumulated based on currency priority, from GEL account in this case, by conversion – via the currency exchange transaction using the commercial exchange rate defined by the Bank at the moment of non-cash transaction. **
 

 

GEL (Priority)

USD

EURO

Account balances

500

99

200

Requested funds

-

100

-

Accumulation/Conversion

-2

+1

-

Debited amount

-

100

-

Balances after conversion and debiting

498*

0

200

*Exchange rate used in the example: 1USD=2GEL
**1. Note that date of transaction and date of reflecting on the account may differ; moreover, date of transaction reflection on the account and currency exchange transaction date may also differ. 

SCHEME FOR CURRENCY EXCHANGE BETWEEN THE ACCOUNTS – EXAMPLE NO 2

If requested amount exceeds the balance on the currency account relevant to the requested amount when processing such a transaction, even if the balance in the account corresponding to the currency of the transaction does not suffice, insufficient balance is replenished by conversion while performing the transaction according to the commercial rate effective at the Bank based on the currency priority and the amount is debited from the account corresponding to the currency of the transaction.

 

 

GEL (Priority)

USD

EURO

Account balances

0

2

200

Requested funds

-

50

-

Accumulation/Conversion

-

+48

-43.2

Debited Amount

-

50

-

Balances in accounts after conversion and debiting

-

0

156,8**

**exchange rate used in the example: 1USD=0,90EUR 

SCHEME FOR CURRENCY EXCHANGE BETWEEN THE ACCOUNTS – EXAMPLE NO 3

If transaction currency differs from the currencies attached to the card account and card account is in three currencies – currency exchange rate will be determined by VISA/MC. The transaction amount will be reflected at VISA/MC exchange rate valid on the date of processing the transaction in the settlement system.

Note: due to the fact that funds could be deducted in few days after transaction is made by the customer, one should consider that VISA/Master Card exchange rate at the moment of blocking the amount and exchange rate valid on the day of transaction processing could differ.

 

Requested amount 50 Turkish Lira  e.g.: 50TRY=20 USD

 

GEL (Priority)

USD

EURO

Requested amount

Account balances

500

10

200

 

Requested funds

-

-

-

50 TRY

Accumulation/Conversion

-20

+10

-

 

Debited Amount

-

20*

-

 

Balances in accounts after conversion and debiting

    480**

0

200

 

*Exchange rate used in the example: 1 TRY =0,40 USD.
**Exchange rate used in the example:  1USD=2GEL.

***Accumulation/Conversion is carried out at the commercial rate effective at the Bank.

 


As the amount was used in the currency different from the currencies (GEL;USD;EUR) considered under the card system, the amount is deducted from USD account at the exchange rate provided by VISA/MC on the processing date of transaction in the settlement system; if the funds are not sufficient on the USD account, the transaction will be reflected according to the examples 1 and 2 discussed above.  

SCHEME FOR CURRENCY EXCHANGE BETWEEN THE ACCOUNTS – EXAMPLE NO 4

Card account is opened in GEL curreny only and transaction currency differs from the currency of card account.

Priority

Account currency

Account balance

1.

GEL

500

 

The amount requested by the customer - 50(TRY) Turkish Lira

 

GEL (priority)

Transaction currency

Account balances

500

-

Requested funds

-

50TRY *

Deducted funds

-40**

-

Balances in accounts after conversion and debiting

 

460

-

* Exchange rate used in the example: 1 TRY =0,40 USD.
** Exchange rate used in the example:  1USD=2GEL.

***Accumulation/Conversion is carried out at the commercial rate effective at the Bank.

 

Conversion at the Bank branches to and from USD and GEL is carried out at the commercial rate effective at the Bank at the time of pyment and outside the Bank network, currency exchange between USD and TRY – at exchange rate set by VISA or Master Card.

SCHEME FOR CURRENCY EXCHANGE BETWEEN THE ACCOUNTS – EXAMPLE NO 5

If the transaction currency is other than the three currencies linked to the card account, the currency exchange rate is set by VISA/MC. The transaction amount deduction is posted in the payment system at the VISA/MC exchange rate on the day of the transaction processing*.

Note: as the amount can be deducted after several days from the customer's posting of the transaction, it is to be taken into account that the VISA/Master Card exchange rate effective at the time of (upon) blocking the amount and the exchange rate on the day of the transaction processing by the payment system may differ.

The requested amount - 50 Turkish Lira. For example, 50 TRY=20 USD + 0.6 USD (3% of the transaction amount).

 

 

GEL (Priority)

USD

EUR

Requested amount

Balances in accounts

500

10

200

 

Requested amount

-

-

-

50TRY

Accumulation/Conversion

-21.2

+10.6

-

 

Debited Amount

-

20.6**

-

 

Balances in accounts after conversion and debiting

479.8***

0

200

 

 

*This rate may include an additional fee set by the Bank amounting to 3% of the transaction amount.

**Exchange rate used in the example: 1 TRY=0,40 USD.

***Exchange rate used in the example:  1USD=2GEL.

***Accumulation/Conversion is carried out at the commercial rate effective at the Bank

As the transaction currency is other than the payment card currencies (GEL, USD, EUR), the amount is deducted from USD account at the exchange rate set by VISA/MC on the day of performing the transaction in the payment system; if the amount available in the USD account is not enough/sufficient, the transaction is posted as in Examples 1 and 2 provided above.

Scheme of Conversion between Accounts – Example #6

If the transaction amount exceeds the available balance in the account denominated in the same currency as the transaction, whether or not there is sufficient balance in the relevant account, the balance will be replenished through conversion at the Bank's exchange rate at the time of the transaction, according to the order of priority set for currencies on your card.

 

 

GEL (priority)

USD

EUR

Balances in accounts

15

20

50

Transaction amount

100

-

-

Collection through conversion

-

-20*

-6.25**

Debited amount

100

-

-

Balances in accounts after conversion and debiting

0

0

43.75

 

*Exchange rate for Example 1: 1 USD = 3 GEL;

**Exchange rate for example 2:1 EUR = 4 GEL.

In this case, if 100 GEL is not available in the account, it will be collected (converted) first from the USD account (20 USD = 60 GEL), and then, the remaining 25 GEL, from the EUR account (6.25 EUR = 25 GEL). The transaction amount (100 GEL) will be fully debited from the GEL account. In the case of a chargeback, the full amount will be refunded to the client's GEL account, while the conversion of 20 USD and 6.25 EUR will not be reversed.

 

If a merchant cancels the transaction and the respective authorization code is not sent to the Bank, 20 USD and 6.25 EUR will be returned to the client's accounts from which they were collected, which means that the current balances in the relevant accounts will be credited by 15 GEL; 20 USD; 6.25 EUR respectively (together totaling the transaction amount – 100 GEL).