PayFar card fees explained: top-ups, purchases and other currencies
From topping up the card to paying in dollars, euros or anything else: where each fee applies, exactly how it is worked out, and how much to load for a $20 purchase.
Money you spend with a PayFar card makes two trips: first from your wallet into dollars on the card, then out of the card when you pay. Each trip has its own fee.
Here is every fee in one place, exactly how each one is worked out, and what happens when a merchant bills you in euros, pounds or any other currency.
Every fee at a glance
| What | Fee |
|---|---|
| Card issuing | Once; the amount is shown before you pay |
| Monthly or maintenance fee | None |
| Adding money to your wallet | None |
| Card top-up | About 1.5%, including the card issuer's load fee |
| Purchases, in any currency | The card issuer's 2% cross-border commission; in practice on every purchase |
| Converting other currencies to dollars | No separate fee; Visa's daily rate |
| A declined payment | None |
| Wallet withdrawal to your bank account | Free at the moment |
| ATM withdrawal, physical card only | The card issuer's 2% beyond the free allowance |
Card top-up: how the fee is worked out
When you top up the card from your wallet, the money reaches the card in three steps:
- What you pay is converted to dollars at the rate shown on the top-up screen. That rate is PayFar's selling rate for the dollar, and you see it before you confirm.
- About 1.5% of those dollars is the card top-up fee, which includes the card issuer's load fee.
- The rest lands on the card.
The top-up screen shows the fee on a line called "Card fee". The line beneath it, "You'll receive on your card", is exactly the dollars that land.
For example, if your payment is worth $100 at the on-screen rate:
| Step | Dollars |
|---|---|
| What your payment is worth | 100.00 |
| Card top-up fee | 1.50 |
| Lands on the card | 98.50 |
The preview on the top-up screen rounds fractions of a cent in the fee's favour: the fee up to the next cent, the card credit down. So what lands on the card is never less than the preview, and sometimes a fraction of a cent more. The smallest top-up is $10, measured on the card, which means after fees.
Paying with the card: the 2% fee
The card issuer charges a 2% cross-border commission on card purchases, in practice on every purchase, whether the merchant bills in dollars or anything else. A $20 subscription takes $20.40 off the card.
| Merchant's price | Taken from the card |
|---|---|
| $5.00 | $5.10 |
| $20.00 | $20.40 |
| $100.00 | $102.00 |
The 2% has no line of its own in your transaction list. The one amount next to the purchase already includes it.
Paying in other currencies
The card balance is in dollars. When a merchant bills in another currency, such as euros, pounds, lira or dirhams:
- The Visa network converts the amount to dollars at its rate for that day.
- The card issuer adds the same 2% cross-border commission to the dollar amount.
- The result is taken from the card in dollars.
There is no separate fee for the currency itself. The only difference between paying in euros and paying in dollars is the conversion rate; the 2% is the same either way.
| Merchant's bill | Example Visa rate | In dollars | With 2%, taken from the card |
|---|---|---|---|
| $20 | No conversion | 20.00 | 20.40 |
| €20 | $1.15 per euro | 23.00 | 23.46 |
| £20 | $1.35 per pound | 27.00 | 27.54 |
| 1,000 lira | $0.024 per lira | 24.00 | 24.48 |
The rates in this table are examples that show the arithmetic; Visa publishes the real ones every day. You can see the original amount and currency of every purchase in the app: tap the transaction, and "Transaction amount" is the amount in the merchant's currency, while the dollar figure is what left the card.
Who picks the billing currency
The merchant does, not the card. Many services take the currency from your account's region, as app stores do, or from where you appear to be. That is why a service you know by its dollar price can bill you in something else.
The simple rule: always pay in the currency the price was set in.
- Dollar price, dollar payment. If a site's own price is in dollars and it lets you choose the currency, choose dollars so there is no conversion at all.
- Decline the merchant's conversion. If a card terminal or checkout page offers to convert a local-currency price into dollars for you, its rate is usually worse than Visa's, and the 2% still applies. Choose the local currency and let Visa convert.
Refunds, declines and holds
- Refunds. What the merchant returns comes back to the card in dollars. If the purchase was in another currency, it is converted again at the rate on the day of the refund, so it can be a few cents more or less than what was taken.
- Declines. A declined payment has no fee and nothing is taken from the card, although the amount can sit on hold for a day or two.
- Holds. Hotels, car hire and some services hold more than the final bill and release the difference later. On a foreign-currency purchase the final amount can also differ from the hold by a few cents, because the conversion is settled at the end.
- Test charges. Some services hold a small amount, usually a dollar, to check the card, and then release it.
How much to load for a purchase
Put it all together, and for a $20 subscription:
- The card needs $20.40, the price plus 2%.
- For $20.40 to land on the card, you need a top-up worth $20.72 at the on-screen rate.
So at the on-screen rate, the full cost of a dollar purchase is about 3.6% above the merchant's price. For other currencies and for services that place holds, leave more room; about ten percent is usually enough. The card's daily and monthly limits are in the card limits guide.
Frequently asked questions
Why does a subscription priced in dollars still take 2% more from my card?
That 2% is the card issuer's cross-border commission, and it does not depend on the billing currency. In practice every purchase, in dollars or not, has 2% added.
What does it cost to pay in euros or another currency?
No separate fee. Visa converts the amount to dollars at its daily rate and the usual 2% is added on top. The original amount and currency of every purchase are in the transaction detail in the app.
How much is the card top-up fee?
About 1.5% of the dollars you pay, the card issuer's load fee included. The dollar rate, the fee and what lands on the card are all on the screen before you confirm.
Is there a monthly or maintenance fee?
No. The issuing fee is paid once, and there is no monthly fee after that.
Does a declined payment cost anything?
No. Nothing is taken from the card, although the amount can stay on hold for a day or two until the network releases it.
Why is my refund slightly different from what I paid?
If the purchase was in another currency, the refund is converted back to dollars at the rate on the day of the refund. The rate has moved in between, and the difference is usually a few cents.
Can I move my card balance back to my wallet?
No, card balance is for spending and does not go back. Money in your wallet can be withdrawn to your own bank account whenever you like, and that withdrawal is currently free.
See every fee before you confirm
The top-up screen shows the dollar rate, the fee and what lands on the card before you confirm. Open a PayFar account and get your own virtual Visa card.