Foreign exchange

Foreign exchange (FX) applies when sending payments in a different currency from the funding account. It is implemented when a payment is processed. The FX rate depends on whether the payment uses fixed or dynamic FX.

Fixed vs dynamic FX

FX applies in two ways, depending on how and when the payment is processed.

Fixed FX

Fixed FX locks the exchange rate before the payment is executed.

This is used for rate groups to ensure consistent rates across multiple payments.

Dynamic FX

Dynamic FX determines the exchange rate at the point the payment is processed.

This is used for payments where the rate is not fixed in advance.

Rate groups

A rate group locks a set of FX rates for a defined period.

Rate groups apply the same exchange rate across multiple payments, for example when batching transactions or ensuring consistency across a set of related payments.

Each rate group has a RateGroupId and a duration.