Currency exchange allowance
How can I view my exchange allowance?
Look for your currency exchange allowance, usage, and billing date on your 'Billing' page. Depending on your base currency, you have a set amount of money that you can exchange to other currencies. Your allowances will reset on the billing day (there can be a delay of up to 24 hours between when the subscription fee is charged and your plan allowances reset).
What if I exceed my exchange allowance?
Once you exceed your plan allowance, you'll pay a 0.6% fee in addition to any other applicable fee when exchanging currencies.
To increase your exchange allowance, you can upgrade your plan. If you want to customise your limits, go to the Pricing page and select 'Discuss a custom plan'. After choosing this option, one of our account managers will reach out to you to get started.
Example of exceeding an allowance
If you're on a Grow plan, which has a monthly currency exchange allowance of £10,000, and you want to exchange £20,000 from GBP to EUR during market hours, the fee would be as follows:
- We charge a fee on £10,000 (£20,000 - £10,000 allowance) – assuming you haven't used any of your monthly allowance yet
- Exceeded allowance fee: 0.6% of £10,000 = £60
- Fee conversion to EUR: £60×1.1711 (interbank rate at that time) = €70.27 fee in total