jchannon

[craggy geode]

hi! you wouldn't be able to make that transfer since you don't have a USD balance; instead you would pass currency:gbp and we'd convert to USD on the connected account side when it receives the funds. The exchange rate is our internal one(a mid market rate with some markup)

[supple bane]

hmm, my account is NOK and when i created a transfer i specified SEK and it worked

this was in test mode though so not sure if that makes a difference?

[craggy geode]

it shouldn't, but maybe you had a SEK balance, can't say anything without looking at a specific example

[supple bane]

ah crap, you're right, i do have a SEK balance

how are balances created on an account, I see I have NOK,SEK,EUR

[craggy geode]

there's a few ways so that's a hard question to answer. https://stripe.com/docs/connect/currencies#application-fees-for-destination-charges-and-converting-balances is one way you might be accumulating balances in other currencies

[supple bane]

so in our scenario we will accept money into our account in whatever currency the market we go into(so need to know how to create that currency on our account) and then each month we'll transfer money to connected accounts that have that currency

so NOK->NOK, EUR->EUR

[craggy geode]

what country is your platform account in?

[supple bane]

Norway

[craggy geode]

https://stripe.com/docs/payouts#supported-accounts-and-settlement-currencies has the list of currencies you can settle in. If you have a bank account in one of those currencies and you are on manual payouts and you charge end-customers from your platform in those currencies, you accumulate balances in those. Any other currency, is converted to your NOK balance at the time of the charge.

[supple bane]

thanks