SaveMyLight has received the following updated terms and conditions which apply to customers making payment in other currencies which is then converted.
5. Currency Conversion
We have amended section 8.2 (Currency Conversion) and section A3.1 of Schedule 1 (Other Fees – Currency Conversion) to clarify what happens when your transaction involves a currency conversion by PayPal. Section 8.2 and section A3.1 of Schedule 1 now read as follows (with added/amended wording underlined):
“8.2 Currency Conversion. If your transaction involves a currency conversion by PayPal, it will be converted at the exchange rate we set for the relevant currency exchange. This is the “Base Exchange Rate”.
The Base Exchange Rate is based on rates available in the wholesale currency markets or, if required by law or regulation, at the relevant government reference rate(s), on the conversion date or the prior business day.
We then add a Currency Conversion Fee (as set out in section A3.1 of Schedule 1 of this Agreement) to the Base Exchange Rate to form the final foreign exchange rate applied to your transaction. In some cases (see sections 4.7 and 4.8) this final foreign exchange rate may be applied immediately and without notice to you.
Where a currency conversion is offered by PayPal to you when you make your transaction, you will be shown the exchange rate (which includes the Currency Conversion Fee) that will be applied to the transaction before you proceed with authorising the payment transaction. By proceeding with your authorisation of the payment transaction you are agreeing to the currency conversion on the basis of the exchange rate shown (which includes the Currency Conversion Fee).
You may opt out of a currency conversion by PayPal before you complete your payment by selecting “Other Conversion options” on the “Review Your Information” page during checkout.
Where a currency conversion is offered at the point of sale by the merchant, not by PayPal, and you choose to authorise the payment transaction on the basis of the merchant’s exchange rate and charges, PayPal has no liability to you for that currency conversion.
Where your payment is funded by a Debit or Credit Card and involves a currency conversion by PayPal, by entering into this Agreement you consent to and authorise PayPal to convert the currency in place of your Credit or Debit card issuer.
