Attach Currency Settlement For Free

Currency Options are contracts that grant the buyer of the option the right, but not the obligation, to buy or sell underlying currency at a specified exchange rate during a specified period of time. For this right, the buyer pays premium to the seller of the option.

You can manage your bank accounts and default settlement currency by visiting the Bank accounts and scheduling page under Settings in the Stripe dashboard.

When an FX trade eligible for CLSSettlement is executed by a settlement member or their customers, we receive electronic payment instructions for both sides of the trade. Our system authenticates and matches the information, which provides legal confirmation and stores it until the agreed settlement date.

Credit cards automatically handle currency conversion when you make a purchase from a foreign merchant. The two worldwide card networks Visa and Mastercard post their exchange rates online and update them daily.

If there is no bank account available for that currency, Stripe automatically converts those funds to your default settlement currency. If there is a bank account available for that currency at the time the charge is made, no conversion occurs.

When a Stripe account receives payments in multiple currencies, Stripe accumulates separate balances for each currency. When those balances are paid out to an associated bank account (or debit card), Stripe automatically sends funds to the associated account for each currency, thereby avoiding exchange fees.

There are two types of debit card fees you may face abroad: Foreign transaction fee: Sometimes called a currency conversion fee, this applies for foreign transactions made with a debit card. It usually ranges from 1% to 3% of the purchase amount. Foreign transaction fees for credit cards work similarly.