Standard FX rates apply when you collect payments or spend on your corporate card in currencies other than AED.

When collecting payments from your customers, you can do so in AED or non-AED currencies. However, we always settle you in AED.

When you collect money in AED, you get settled in AED. Therefore, there are absolutely no additional foreign exchange (FX) rates applied on top of the standard transaction fees we charge, which are outlined on our pricing page.

When you collect money in non-AED currencies (for example, USD), we will still settle you in AED. Therefore, there is a currency conversion involved and we will need to convert the payments from the foreign currency (USD) to AED.

The FX rates we use in this conversion are pulled directly from an FX rate provider called openexchangerates.org and include a small buffer to protect against short-term currency fluctuations between the date of the actual transaction and the date of the money arriving to your bank account.

In short, we don't charge any fees for spending on the Mamo Card, but standard exchange rates apply for spending in foreign currencies.

Read more about the fees (or lack thereof!) associated with the Mamo Card.