When you travel, you can use your credit card to make payments in foreign currency.
A foreign currency transaction appears on your statement in Canadian dollars.
To convert the amount of a transaction in a foreign currency to Canadian dollars, we use the same exchange rate charged to us by Mastercard Worldwide on the date the transaction is posted to your account. A fee of 2.5% is then charged on the amount converted in Canadian dollars.
The applicable exchange rate is the rate in effect at the time the transaction is posted to your statement, whether it consists of a debit or a credit transaction. The exchange rate applicable to debit or credit may, however, be different.