wk00
4 March 2017 07:39
1
According to the FAQ, in the weekend (Friday 00:00 - Sunday 23:59) a mark up is applied to the exchange rate as the Forex markets are closed.
Is Friday 00:00 - Sunday 23:59 the GMT/UTC (UK) timezone or in the timezone where the actual transaction was made (e.g. ATM withdrawal or Purchase)?
And, why is this Friday 00:00? Shouldn’t this be Saturday 00:00? Otherwise the markup is applied throughout all of Friday.
Furthermore, read that the FX markets close at 17:00 New York time on Friday (22:00 UK time), does this impact the mark up in anyway?
4 Likes
well, whats the answer to the authors questio?
I asked a similar question here: Weekend exchange-rate surcharge clarification
It appears it’s UK time, according to the answer I got.
NFH
14 March 2017 16:22
4
Correct. They re-open at 07:00 Auckland time on Monday morning, which is Sunday evening in Europe.
I am sure it is a typo @anon33247966
Indeed, it was a typo and thank you for letting us know. It has been corrected.
1 Like
“At the weekend (Friday 23:59-Sunday 23:59)” but what time zone does that apply to? GMT?
Local London time, UTC +1
2 Likes
Just to clarify: so the weekend markup will be applied strictly from Friday 23:59 until Sunday 23:59 UK time, even though the FX markets close earlier on Friday and open earlier on Sunday?
