What is Currency conversion fee?

A currency conversion fee is the charge added when money is converted into another currency, on a card payment or a transfer, and it sits on top of the rate you are shown. 2gether charges a currency conversion fee of 0.95%, while Alif Bank adds 0.1%. Alpha Bank's fee is higher at 3.01%. The figure matters most for anyone who spends or holds money in another currency often, since the charge applies again on every conversion.