Help & Support

What is a payment to receive fixed amount? Why is there an "overcharge", what is the estimated refund?

With a regular payment, we convert the deposited sum into the recipient currency according to the current mid-market rate. The 'You get' sum is therefore an estimate.

With «Receive fixed amount» the recipient is designated to receive a specified sum (in the other currency) determined by you.

For example, you wish the recipient to receive exactly 1000 EUR. If you start the payment, mark the «Receive a fixed amount» option and enter 1000 into the 'You get' EUR field.

If you confirm the payment details and are shown to make a deposit, you are asked to deposit a slightly higher sum to us than you would deposit with a regular payment.
The reason is that we cannot predict the mid-market exchange rate at the time when the currency conversion starts (when we receive the deposit and activate your payment). We must guarantee that the recipient gets the designated sum, and any resulting excess sum will be refunded to you after the transaction is completed.
The excess refund is estimated at first and only after the completion of the transaction, the exact excess is returned to you, depending on the effective market rate.

That is why you will need to enter your refund account details under 'DEPOSIT REFUND', so we can refund the excess amount back to you.
The excess amount will be returned to you within 3 business days – it's not simultaneous to the payout.

• NB! Note that you cannot send a fixed amount if you're converting from PLN, CHF, DKK, SEK or NOK.

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Also see:
* Why do I need to enter a refund account?

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