When a customer pays in a currency you don't have a balance in, we convert the payment into your primary balance currency before it reaches you. Here's when that happens, how the rate is set, what it costs, and where you can see it.
What you need to know in advance
Conversions only take place when you accept payments in multiple currencies. This can be enabled for several payment methods, which you can find in our technical documentation.
- If you have a balance in the same currency as the payment, we don't convert it. A GBP payment goes straight to your GBP balance.
- If you don't have a balance in that currency, we convert the payment to your primary balance currency. A USD payment becomes EUR if EUR is your primary balance.
- Conversion rates change real-time, 24 hours a day, 5 days per week.
- At the moment your customer finalises the payment, we guarantee that you receive the converted amount calculated at that moment in time.
The Mollie rate
- For payment and balance conversions, Mollie uses the real-time mid-market rate. This means that for payments just minutes apart, a different rate is used. This gives you the best deal possible, opposed to for example using a daily rate.
- You can find the used exchange rate on the detail page of each converted payment.
- You can find the conversion fee amount on the detail page of each converted payment.
- For conversions applied to aggregated amounts shown on the Mollie Dashboard and Mollie App, a daily rate is used.
What happens next
We settle the converted amount to your balance and include it in your next payout. Your settlement report shows each converted payment.
Refunds
For refunds to those customers that paid you in a foreign currency, Mollie converts the required amount and takes that from your balance. The same logic as for incoming payments is applied.
Read more