How are the foreign exchange and FCPT charges calculated and billed?
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If you elected to make your credit card payment in Bermuda Dollars, the Bank will automatically charge FCPT (Foreign Currency Purchase Tax) and/or FX (Foreign Exchange) on any applicable purchases. Bermuda Dollar transactions are not subject to FCPT or FX. All FCPT and/or FX will be reflected on your current month s statement for purchases made up until and including the 21st of each month (this may vary if the 21st should fall on a weekend or public holiday). One transaction will be posted for the total amount of FCPT owing and one transaction will be posted for the total amount of FX due. The total FCPT and FX charges will be included in the statement balance.
