Foreign Exchange Rates Product Terms

This Visa Product has no Visa Product Terms at this time.

If You are a Visa Member or not a Visa Member, the following Visa Product Terms apply to You: Certain foreign exchange rates provided by the API may be provided by or based on third parties (for example the European Central Bank).

If You are a Visa Member in the Visa Europe Region, the following additional Visa Product Terms apply to You:

1. Visa will refresh FX data twice a day as provided by Visa and by third parties (for example the ECB). The first refresh will occur at 16:00 CET, this will show the latest available ECB rates. The second refresh will occur at 22:00pm GMT, showing the Visa rates.  Visa will not be held liable should there be any delay on part of the  third  party when publishing their rates and in such circumstances, Visa will always present the last published rates.

2. You will only use the API’s returned data items (“Returned Data”) where required to achieve transparency in the context of Visa FX rates and ECB benchmark.  The Returned Data items are:

a) Converted amount with Visa Treasury Service rate with bank fee (optional and provided in input);

b) Converted amount with Visa Treasury Service rate without bank fee;

c) Converted amount with ECB rate without bank fee;

d) Visa FX rate with bank fee;

e) Visa FX rate without bank fee;

f) Visa FX markup against ECB rate with bank fee;

g) Visa markup against ECB rate without bank fee;

h) Last Visa refresh timestamp; and

i) Last ECB refresh timestamp.

3. To gain Solution Approval, You must disclose to Visa how the Returned Data will be used and for which Visa products or services the Returned Data will be used.

4. If You intented to use Visa Europe Enhanced FX Rates with multiple BIDs, then additional terms may apply.

5. Data Privacy. The terms and conditions relating to data protection that govern the processing of Personal Information under this API in the context of this Agreement are set out in Schedule 2 to this Agreement.