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Visa/MasterCard International Service Assessment (ISA) Fee Frequently Asked Questions Is the ISA fee listed on my SDFCU statement a new fee? No, the ISA fee that appears on your SDFCU statement is not a new fee, but due to changes in credit card company regulations, we are required to disclose the fee separately. For many years the exchange rate was included by Visa and MasterCard as part of the total transaction amount. Transactions made with your SDFCU Check and Credit Cards are charged 1% of the total transaction amount, while other financial institutions charge you up to 3% of the total transaction amount How SDFCU compares against the competition.*
What is an International Service Assessment (ISA) fee? Currently, a line entitled, "ATM FEE" or "FOREIGN TRANSACTION FEE" appears when foreign currency transactions are made. This is an International Service Assessment (ISA) Fee. An ISA fee is a foreign transaction fee. When you make a purchase with your SDFCU Check/ATM or Credit Card overseas, your funds are converted to U.S. dollars from the local currency of the country where you are conducting the transaction. If you withdraw funds from an ATM while overseas, the funds are converted from U.S. dollars into the local currency of the country you are conducting the transaction. The amount charged is 1% of your total transaction amount. What types of transactions will be assessed an ISA fee? SDFCU Check/ATM and Credit Card purchases, refunds or ATM withdrawals made overseas (outside the United States, Puerto Rico, or the U.S. Virgin Islands) are subject to an ISA fee. Do all credit and debit cards charge ISA fees for transactions made overseas? All Visa, MasterCard, and American Express credit cards and debit cards issued by financial institutions are assessed an ISA or foreign transaction fee for transactions conducted overseas. The amount that is charged to the user of the card is decided by the financial institutions that issue the credit or debit/ATM card. Transactions made with your SDFCU Check and Credit Cards are charged 1% of the total transaction amount, while other financial institutions charge up to 3% of the total transaction amount. What benefit is there to using my SDFCU Check or Credit Card while overseas? There are several advantages to using your SDFCU Check or Credit Card while overseas. Generally, the cost of exchanging currency with an exchange company will cost more than the 1% ISA fee assessed on overseas transactions you make with your card. Also, if your card is ever lost or stolen while you are traveling, Visa and MasterCard protect you against fraudulent use. Are transactions made on foreign U.S. Military bases subject to an ISA fee? No, transactions made on foreign U.S. Military bases are processed in U.S. dollars; therefore no currency conversion is required. Why am I charged an ISA fee for a transaction done with my ATM card? The ISA fee is applicable for foreign ATM transactions. These transaction types are routed by the Plus network which is owned and operated by Visa.  |
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