What is Currency conversion fee?

A currency conversion fee is the charge a provider adds when it swaps your money into another currency, whether on a card purchase abroad or on a transfer. It sits on top of the exchange rate, so the cost comes out of the amount you spend or send. Cards and bank accounts do not always price it the same way. ACB Grenada Bank lists 1% on its personal account fees, the 2gether card at 0.95%. ABN AMRO's business accounts sit at 2.5%, and 1st National Bank Saint Lucia at 2%. Regular overseas spending makes this figure decide the winner.