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FX Transactions refer to foreign exchange transactions or currency conversions. These transactions involve converting one currency into another at an agreed-upon exchange rate, allowing merchants and buyers to conduct international transactions in their preferred currencies. FX transactions allow you to convert funds between your enabled holding currencies, giving you the flexibility to:
  • Convert balances only when required
  • Optimize FX timing and rates
  • Support payouts in currencies different from collection currencies

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Key Aspects of FX Transactions

  • Currency Conversion: FX transactions facilitate the conversion of funds from one currency to another, enabling cross-border payments and transactions.
  • Exchange Rate: The exchange rate is the rate at which one currency is exchanged for another. It may fluctuate in real-time based on market conditions.
  • Currency Pairs: In FX transactions, currencies are traded in pairs, such as USD/EUR (US Dollar/Euro) or USD/JPY (US Dollar/Japanese Yen).

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How FX Transactions Work

Currently, FX transactions are handled via an assisted flow. To request an FX conversion: Once executed:
  • Funds are debited from the source holding currency
  • Converted funds are credited to the destination holding currency
  • FX details appear in your transaction history

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Important Notes

  • Multiple holding currencies can be configured per account but there would always be only one primary holding currency
  • Auto-conversion applies only when incoming funds do not match any enabled holding currency
  • FX transactions are available only between enabled holding currencies
  • Currency availability may vary based on compliance and region
  • Large FX conversions may require additional checks