The Grey Team
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At Grey, we’ve always strived to offer our customers the best possible service without hidden costs. However, the evolving nature of international commerce brings new challenges.
As of February 1, 2024, we will begin applying a cross-border fee mandated and directly charged by card processors, such as Mastercard, for transactions made on non-USD websites using your Grey USD card. This fee is not initiated by Grey; instead, it is a standard charge levied by financial networks to manage the additional costs involved in international currency transactions.
A cross-border fee is a charge applied to transactions that involve currency conversion. It is incurred when you use a card issued in one country (for example, a USD card) to purchase another currency (like EUR or GBP). This fee compensates for the additional risks and costs of validating and processing international payments across different currencies and banking systems.
This fee, which is 2% of the transaction amount plus $0.50, will be charged for each transaction that requires currency conversion when using your USD card on non-USD websites. This means it will apply only when you purchase in a currency other than USD.
We assure you that these fees are only used when necessary and reflect the expenses incurred during the transaction process.
If your card doesn't have enough funds to cover the fee, it will result in a negative balance. We encourage you to ensure sufficient funds are available whenever you intend to make a cross-border transaction to avoid this situation.
It's also important to note that the cross-border fee is non-refundable if a transaction fails. This is because the fee is incurred while attempting the transaction, regardless of its outcome.
If you have any feedback or concerns about this new development, please do not hesitate to contact our customer service team for assistance.
Our commitment to offering you the best customer experience remains unchanged. We will continue to support all your global transactions, with this small fee applied to only cross border transactions moving forward.
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