Need a hand?

Just pop your question below to get an answer.

Will I be charged for foreign currency exchange fees for using a Merchant account?

Transactions from your Merchant account are settled in their corresponding currency account. So if you made a sale in GBP, your transaction will be settled in your GBP account.

Once money is settled in the same currency, the business owner can decide whether to exchange money to a different currency.

When it comes to foreign exchange (FX) fees, the same allowances and fees of your Business accounts apply. For instance, if you’re on our Scale plan, and you reach a total of £50k for all currency exchange transactions (including Merchant account payments), you will then be charged a 0.6% mark-up on the currency exchange rates.