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Terms starting with F
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The point past which a payment cannot be reversed. Blockchains reach it in seconds to minutes, and after that no one, including the network, can undo it.
What you already know this as
Irrevocability. A cleared cheque, past the point where it can bounce.
FX markup
also called foreign transaction fee, forex feeThe percentage added on top of the real exchange rate when you spend in a currency your account does not hold. It is charged on the whole amount, so it scales with your holiday.
What you already know this as
The foreign transaction fee on a bank card, typically stated as one number that quietly bundles the network's cross-border charge and the bank's own margin.
In Kite: US dollar spends carry no added fee. Everything else is a flat 1.8%.
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