Paying by Credit Card

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PAYING BY CREDIT CARD - IMPORTANT INFORMATION

SWIFT BANK TRANSFER OR CREDIT CARD? HELPING YOU CHOOSE.

1.1 Our Preferred method of payment is by Bank Swift Transfer. A Swift Bank Transfer is the most cost effective payment method for both the Client and Greenlife Africa Safaris. When paying in a foreign currency, your funds are transferred directly by your bank into our US$ or South Africa Rand (ZAR) account at Absa Bank in South Africa. We are then able to pay the suppliers in US$ or ZAR from this account, thus negating the necessity to convert currencies.

Clients paying by Swift Bank Transfer are liable for bank charges incurred by both The Company and the Client's banks.

1.2 Clients who prefer to pay by credit card must please be aware of the following important facts:

CONVERSION RATE
When processing a payment in US$, the conversion rate is taken from morning or afternoon conversion Bank Selling Rates as provided to us twice daily by First National Bank, one of South Africa's leading financial institutions. A screen shot of such a notification appears below.

EXAMPLE
As an example based on the above exchange rates, if the amount due by a client is US$1000, the amount that will be debited in South Africa will be ZAR6987.30 (1000x6.9873). This occurs when your card is processed by your personal consultant and the amount of ZAR6987.30 is credited to our ZAR bank account at Absa Bank.

YOUR BANK'S COMMISSION CHARGES
Your Bank or Credit Card company may charge commission on your transaction, so the amount debited from your credit card may differ to the amount provided as proof of transaction by your travel consultant.
One of the best explanations for this is explained on the Oanda financial portal at http://www.oanda.com/help/how-to-read-currency-conversion-results, and quoted below:
"Credit cards and exchange agencies charge commissions to convert currencies. These retail rates add commissions of 1 to 10 percent or more. For example:
• ATM's typically add 2% (and then add service charges in many parts of the world).
• Credit cards typically add 3% (for the major currencies; more for other currencies).
• Foreign exchange kiosks and banks often add 5% when you convert hard cash (for the major currencies; more for other currencies).
• Retail rates vary widely between payment systems, countries and banks, so we encourage you to enquire about the rates your financial institution is actually charging you."


CHARGES ON YOUR CARD
If your credit card has been charged for more than what was quoted to you by your consultant, it is your bank which has added their commission. Banks will often not put this on a statement as a commission - they merely build it into the amount they deduct from a client's card.

CONCLUSION
Our company acts at all times in the interests of our Clients. When discrepancies occur, please be assured that these are as a result of your bank - and NOT our company - converting the transaction at a rate that only benefits the bank.

We strongly suggest you make the payment via a Swift Bank Transfer instead of using a Credit Card. Please note that this scenario is not unique to our company - it occurs worldwide whenever you make a Credit Card payment where a currency conversion occurs.

Please note that there is also a 3% Admin Fee charged by the Company when paying by credit card. This fee is included in the final invoice provided by the Company's consultants to the Client.

Further information on Payments can be found in our Terms and Conditions document under PAYMENTS, SURCHARGES & EXCHANGE RATES

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