If you want to pay your supplier in their preferred currency or want to be able to transfer your funds to your bank account in one transfer instead of several, you can now convert the currency within your WeTravel wallets.
How To Convert Currencies Within WeTravel
On your Payments Tab, you will see the button “Convert” next to “Transfer”:
After clicking on the button, you will be redirected to the conversion page.
Here, you can select the amount you want to convert, the currency you want to convert from, and the currency you want to convert into and see real-time conversion rates.
You can also enter the converted amount in your "to" currency and we will automatically calculate how much you need in the "from" currency to make this conversion.
The minimum amount is 20 USD/EUR/GBP/CAD/AUD and 200 ZAR
After you confirm the conversion, the system will load the conversion, and once successful, you will be shown the following screen:
After clicking confirm, the system will initiate the conversion, and within seconds, you will see the confirmation screen.
You can now use your funds in the new currency to do a payout to your own bank account, initiate a new supplier transfer, or refund customers in this currency.
Transfer report:
On the transfer report, the change in currency will show up as follows:
Type: Conversion
Currency: The “To” and “From” currency of this conversion.
Net & Amount: This will always be the same amount
Fee: Since the conversion does not have any fees attached to it, it will always show zero.
Description: “From your XXX balance” or “To your XXX balance.”
FAQ
Which currencies are available for inter-wallet exchange?
The currencies available for conversion within your WeTravel account are USD, EUR, GBP, CAD, AUD, and ZAR.
What is the exchange rate that WeTravel uses for conversion?
The exchange rate changes based on the international rate, and you will be able to see and agree how much your conversion will give you in the new currency. If you want to know the exchange rate, fill out 1 unit of the original currency to see what that transfers to in the new currency.
Does WeTravel charge a Fee for converting currencies?
The conversion from one currency to another has no additional fees for you.
Is there a limit to the amount I can convert?
We do not currently have a limit for conversion. However, you can only convert what you have available as your balance.
What if I need to make a refund, but I have already converted my funds to a different currency?
You will have to convert the balance back to the original currency. This may result in a slightly different conversion rate due to fluctuations in the exchange rate.