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Understanding card fees

When making a card payment in a foreign currency or when withdrawing cash with your Spendesk card, certain fees will apply.

Understanding card fees

Spendesk applies foreign exchange (FX) fees to card payments made in a different currency, and withdrawal fees when you take out cash with your Spendesk card. This article explains how each fee is calculated and how to reduce them.

For: all roles on Spendesk making or approving card payments.

Before you start

  • Your company's FX fee rate may differ from the default if you negotiated a custom rate with your Customer Success team.

  • If your company is billed through an Adyen account (SFS UK), FX fees appear as a separate monthly invoice instead of a markup on your statement. See the "FX fees on an Adyen account" article linked below.

FX fees

Spendesk applies a 2.99% FX fee by default on any card transaction made in a currency different from your Spendesk account currency (for example EUR, USD, GBP, SEK, NOK, or DKK).

Spendesk uses Visa's daily exchange rate to convert the transaction amount into your account currency. The FX fee is then charged on top of the converted amount. The rate applied is the one in effect on your payment's transaction date, not the date you requested the payment.

Example:

  • You pay for a purchase of 100 USD with a card in EUR.

  • Visa converts the amount using its daily rate (for example 0.84), giving 84 EUR.

  • Spendesk charges 2.99% of 84 EUR, which is 2.51 EUR in FX fees.

  • Your total charge is 86.51 EUR.

To check the exchange rate used for a specific transaction date, use Visa's official calculator: Visa Exchange Rate Calculator.

💡 Tip: When a payment terminal abroad offers a choice of currency, choose the local currency rather than your card's currency. Terminals often apply their own conversion rate, which can be more expensive than Spendesk's FX fee.

Reduce your FX fees

  1. Contact your Customer Success representative.

  2. Share your company's typical volume of spend in foreign currencies.

  3. Discuss whether a custom FX fee rate is available for your account.

Withdrawal fees

If you have a Spendesk physical card and your Account Administrator has authorized cash withdrawal, Spendesk charges a 0.75% withdrawal fee on every withdrawal, with a minimum fee of 1 EUR (or the equivalent in your account currency). This fee applies whether you withdraw in your card's currency or a foreign currency.

If you withdraw cash in a currency different from your account currency, both fees apply: the 0.75% withdrawal fee and the 2.99% FX fee.

Summary on fees

Fee type

Default rate

When it applies

FX fee

2.99%

Transaction currency differs from account currency

Withdrawal (ATM) fee

0.75%, minimum 1 EUR (or currency equivalent)

Any cash withdrawal, regardless of currency

Troubleshooting

Symptom: You were charged an FX fee on a payment you thought was in your own currency.
​Cause: The fee is based on your Spendesk account currency, not your card's display currency.
​Resolution: Check your account currency in Settings, then compare it to the transaction currency shown on the payment.

Symptom: A cash withdrawal shows two separate fees.
​Cause: Withdrawing cash in a currency different from your account currency triggers both the 0.75% withdrawal fee and the 2.99% FX fee.
​Resolution: This is expected behavior. No action is needed.

Symptom: The fee amount doesn't match Visa's exchange rate calculator.
​Cause: The calculator uses the rate for the date you check it, not necessarily your transaction date.
​Resolution: Use the transaction date shown on your payment in Spendesk, then check that date on Visa's calculator.

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