We previously communicated that from 1 December 2024, we’ll be updating our Summary of Accounts, Availability of Access Facilities and Transaction Limits, Conditions of use and Fees and Charges to reflect changes to when international conversion fees may apply.

Please note these changes will now be implemented on 9 April 2025.    

What are the changes?

Community First charges a Currency Conversion Fee of 3% of the transaction value in AUD when you use your Visa card (debit of credit) for a foreign currency transaction or where an Australian dollar transaction is processed outside Australia. 

The changes aim to clarify that the fee will also apply where the merchant, financial institution or entity processing the transaction is located overseas (even if in Australian currency and may include refunds and reversals). It will also apply to any instance where it is considered by Visa to require conversion into Australian currency. 

Sometimes, overseas merchants, financial institutions or intermediaries allow you to pay for a transaction in Australian dollars or allow you to choose the currency for purchases (also known as Dynamic Currency), however this is still classified as an international transaction because your transaction is processed overseas. This can apply whether the transaction is made in person, over the phone or online. It may also apply to websites that end in .com.au and that displays prices in Australian dollars. It may not always be clear when a transaction may be an international transaction. You should check with the merchant if you’re unsure. 

Moving forward the Currency Conversion Fee will now be known as an International Transaction Fee.  

If you would like to view our current Fees and Charges schedule, click here.