Voltage effects on the Na-Ca exchange system are analyzed on the basis of two kinetic models, a "consecutive" and a "simultaneous" reaction scheme. The voltage dependence of a given rate constant is directly related to the amount of charge which is translocated in the corresponding reaction step. Charge translocation may result from movement of an ion along the transport pathway, from displacement of charged ligand groups of the ion-binding site, or from reorientation of polar residues of the protein in the course of a conformational transition. The voltage dependence of ion fluxes is described by a set of coefficients reflecting the dielectric distances over which charge is translocated in the individual reaction steps. Depending on the charge of the ligand system and on the values of the dielectric coefficients, the flux-voltage curve can assume a variety of different shapes. When part of the transmembrane voltage drops between aqueous solution and binding site, the equilibrium constant of ion binding becomes a function of membrane potential. By studying the voltage dependence of ion fluxes in a wide range of sodium and calcium concentrations, detailed information on the microscopic properties of the transport system may be obtained.