For transactions in currencies other than SGD, Instarem converts the amount using the prevailing exchange rate and deducts the equivalent SGD from your balance.
Example:
- Current rate: 1 USD = 1.28 SGD
- Transaction amount: 100 USD
- Amount deducted: 100 USD x 1.28 = 128 SGD
Refunds: Refunds are processed using the FX rate at the time of the refund.
- Refund amount: 100 USD
- Current rate: 1 USD = 1.32 SGD
- Amount returned: 100 USD x 1.32 = 132 SGD
Note: Exchange rates are for illustration purposes only; actual rates may vary based on market fluctuations.
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