Thursday , October 28 2021

International purchases with credit cards will begin to block the exchange


All international purchases made with credit cards will block the exchange rate in effect on the date of expense and no more than the expiration date of the invoice, as it currently does. However, this change will take place from March 1, 2020.

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International purchases with credit cards will begin to block the exchange

This new standard was announced by the president of the Central Bank, Ilan Goldfajn. The decision entered Circular 3.918, which states that it will enter into force only at the beginning of 2020. This will require the adaptation of banks in relation to the new collection system.

The new rule is important for the consumer, according to Goldfajn, because he can plan more adequately. "Normally, the consumer buys and pays the exchange rate of the due date of the invoice. Sometimes, what happens is that what you buy is not what you pay, because the exchange rate is devalued. What we are instituting now is that the tariff will have to be from the day the customer bought it, "explained the president of the BC.

According to a statement issued by the BC, the change "increases transparency and comparability in the provision of services by standardizing the information on the historical rates of conversion of invoices and will have to be released in open data format, so that the rankings can be structured and widespread ".

Some cards already do

However, some credit cards blocked the exchange for some time in international purchases. Nubank, for example, has changed the way these purchases are charged in September this year.

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Luiz Felipe Kessler

Fintech's enthusiast and all that technology offers facilities in our lives.

Founder of his digital credit and Optclean technology.

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