The exchange rate(s) includes the administrative charges of the bank and visa/mastercard charges. These charges are due to the foreign currency exchange.

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Fluctuating Exchange Rates

Dear Shoppers, Fluctuating exchange rates is indeed a headache for shoppers and organizers. As sprees may take a few days or even weeks for orders to be placed, the exchange rates are going up and down every single day !!

It will not be fair if you are paying for an exchange rate higher than the actual one being charged to the organizer. It will also not be fair for the Organizer to absorb the excess if the exchange rates goes up.

Solution

ForeverSpree has implemented an exchange rate close to the market rate. Your first payment for your purchase will be calculated using this exchange rate. However, we will only be charged by the credit card companies a few days after the order has been placed with the merchants. So what happens when the exchange rates goes up and down, from the day you make your payment till the day ForeverSpree is charged by the credit card companies?

We have included an extra factor in calculating your second payment - EXCHANGE RATE DIFFERENCE.

+ When the Exchange Rates DROP :

The excess that you have paid will reflected as a negative exchange rate difference. This amount will then be used to offset your Second Payment.

+ When the Exchange Rates RISE :

The additional amount will be reflected as a positive exchange rate difference. This amount will then be added to your Second Payment.

+ How will the exchange rate difference be calculated?

It will be based on the difference of the exchange rates used to calculate your first payment and the exchange rate that is actually being charged.

- Example 1 :

If your first payment is calculated based on the USD exchange rate of 1.46 for a purchase of USD50 item, you will have to pay 1.46 X 50 = SGD73

If ForeverSpree is being charged at an exchange rate of 1.42, you actual payment should have been 1.42 * 50 = SGD 71

Thus, in your second payment, a negative SGD 2 will be reflected and it will be used to offset your other Second payment charges.

- Example 2 :

If your first payment is calculated based on the USD exchange rate of 1.42 for a purchase of USD50 item, you will have to pay 1.42 X 50 = SGD71

If ForeverSpree is being charged at an exchange rate of 1.46, you actual payment should have been 1.46 * 50 = SGD 73

Thus, in your second payment, a positive SGD 2 will be reflected and it will be added together with your other Second payment charges.

In this way, you will be paying exactly for what you are buying.