Exchange rates will dynamically adjust your available benefit balance to match the current exchange rate between USD and your local currency. This means you may see your balance change from day to day as exchange rates fluctuate.

Why?

When you receive a contribution to your benefit, that amount is stored in USD in the Benepass database. Benepass then uses daily exchange rates to dynamically display your current available balance in your local currency.

By storing your contribution amount in USD, this ensures you will have purchasing parity as exchange rates change, rather than providing a contribution at a fixed local amount which may devalue over time.

Example

For instance, a $500 USD contribution will display as £396.82 when the GBP:USD rate is 1.26, but later display as £403.23 when the rate changes to 1.24.

Best practices

Check your available balance shortly before making purchases, as the displayed amount in your local currency may have changed due to exchange rate fluctuations. Remember that while the local currency amount may vary, your benefit value remains stable in USD.

When traveling abroad, remember that Benepass does not charge international transaction fees. However, merchants may assess their own fees.