Please refer to the detailed breakdown below for the methodology needed to compute the fees based on an assumed exchange rate of 1 SGD = 0.73 USD.
For SGD currency settlements
Captured Total: 100.00 Singapore Dollars (SGD)
The total cost is MDR (100*2.85%) + (0.40 USD) for refunds.
+ 0.40 USD = 2.85 SGD
+2.85 SGD for 0.55% of an SGD
= 3.4 SGD
The Deducted Subtotal Is: 96.6 SGD (10 minus 3.4)
Gross Amount Captured = 100.00 USD (non-SGD) for foreign currency settlement.
Refund fee (MDR) = (100 * 3.3%) + (0.40 USD) * MDR.
= 3.30 + 0.4
= $3.7
Sum Subtracted From Total = $96.3 (USD)
I hope this helps!