The interchange fee is paid to the issuing bank, however, the rate is set by the card networks (for example, American Express, Mastercard, UnionPay and Visa).
The interchange fee is made up of a percentage of the transaction value, plus a percentage of each transaction.
For consumer card transactions within the European Economic Area (EEA), interchange fees are capped at:
- 0.3% of the transaction for credit cards
- 0.2% of the transaction for debit cards
To stay informed about current rates, you can visit the specific card schemes' websites:
Note: Some card networks, for example American Express, do not disclose their rates online, due to their operational structure.