koidestroyer-connect-conversion

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hi! I wasn't aware we did that, can you share an example where you see this conversion exactly?

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This is within Europe (Norway doesn't have Euro): I create a Norway based account in NOK. Then I create a Netherlands based customer who is then invoiced in EUR. The customer pays the invoice, which has destination the Norway based account. Then I see that the invoice amount in EUR - fee in EUR appears on the Norway based account in NOK

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can you share an example? the Invoice ID in_xxx.

but yes, if you charge a customer in a currency which the receiving merchant can't settle in(see https://stripe.com/docs/payouts#supported-accounts-and-settlement-currencies for docs on that), it's converted to that merchant account's default currency

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in_1MEBTIDoazGNhhkoZd5lNLcq

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if you don't want any conversion you avoid it by adding a bank account in the charge currency to the merchant account (e.g. you can add a EUR bank account to your NO account to be able to settle EUR charges with no conversion)

so yeah that invoice is a standard Destination Charge, in EUR, with a transfer to a NO connected account. So the EUR transfer is converted to NOK on arrival to the connected account so it can get paid out.
It's this scenario: https://stripe.com/docs/connect/currencies#destination-charges-without-on-behalf-of

any other questions?

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There is a question that arises, I may have misinterpreted the result. I read that application_fee is converted to the connected account's currency - why would that be the case if our account is still EUR based?

Or the whole amount is converted from EUR to NOK, then the fee is deducted in NOK and converted back to EUR?

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it's just because it's how the flow is built, see the diagram on https://stripe.com/docs/connect/destination-charges#flow-of-funds-app-fee . The full amount is transferred to the connected account(and converted), and then the application fee is taken at that point and comes back

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So there are indeed two currency conversions?

So the way to be more efficient here would be to use the transfer_data[amount] mechanism instead if I read that correctly

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koidestroyer-connect-conversion

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the best option is to add a EUR bank account to the Express account, but that depends on that person having one of course

but yes I believe it's an option to use transfer_data[amount], it's worth testing it out; it's a complicated area