Does payoneer convert other currency to our local during the withdrawal?

puneetg30
puneetg30 Confirm Email, Member Posts: 2 ✭
in Ask The Community
Suppose I got paid today in USD and I try to cashout a week later.
So the exchange currency rate will be applied according to the latest rate on date of withdrawal or according to the date on which the amount is being paid?

Answers

  • Kiara_Payoneer
    Kiara_Payoneer Administrator, Moderator, VIP Member Posts: 592 ✭✭✭✭✭✭

    Hi @puneetg30,

    When conducting a withdrawal involving currency exchange, it is essential to note that the applicable exchange rate will be determined either according to the date of the withdrawal initiation, ensuring that the converted amount reflects the prevailing rate at that precise moment, or alternatively, if the withdrawal processing takes place a few days later, the exchange rate applicable will be based on the processing date, safeguarding accuracy and transparency in the currency conversion process, and ensuring that customers receive the most current and fair exchange rate available at the time of execution.

    Good luck!

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