How is the foreign exchange conversion performed in case I am using the card abroad?

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How is the foreign exchange conversion performed in case I am using the card abroad?

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In case you use the card abroad, according to the currency in which the card was issued, the conversion is performed in the following way: • there are correspondent banks who settle the payments • the transaction currency is the one through which the payment is made, the reference currency is the currency in which the payment is automatically converted (in case of transactions made in Romania- RON, in case of transactions made abroad –EUR) while the account currency is the currency in which the current account is opened (either EUR or RON) • the moment a payment is performed abroad, the correspondent bank performs the settlement between the transaction currency and the reference currency (in case there is the case), than a second conversion is made between the reference currency and the account currency(in case there is the case).

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