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Convert and Send
Key Features
Automatic Currency Conversion: Funds are converted seamlessly within the transfer process.
Multi-Currency Support: Users can send payments in different currencies from the same account.
Transparent Fee Calculation: The system displays exchange rates and fees before confirmation.
Automated Coverage Calculation: The system determines the exact amount to be deducted, including conversion fees.
Feature Toggle Control: The corresponding system setting ensures that conversion is applied automatically.
Functionality
Account and Currency Selection
Platform | Account Selection | Currency Selection |
|---|---|---|
Frontend | The conversion account is automatically assigned and must be multi-currency. | Users cannot manually select the conversion account. |
Backend | Any account can be used for conversion, including single-currency accounts. | The system applies currency conversion based on available balances. |
Automatic Coverage Calculation
The system automatically calculates the coverage amount, including exchange fees.
Users cannot manually edit the coverage amount, ensuring error-free transactions.
The total cost, including the exchange rate, is displayed before the transaction is confirmed.
Exchange Rate and Fee Transparency
Users see the real-time exchange rate before confirming the transfer.
All applicable fees and deductions are shown before the transaction is finalized.
Transfer Process
Select Account and Currency
Users select the sending account in the banking interface.
The system automatically selects the coverage currency if the account is multi-currency.
If the account does not support multiple currencies, users must select a valid account.
Review Exchange Rate and Fees
The system fetches the current exchange rate and displays applicable fees.
Users review the total amount before confirming the transfer.
Confirm and Execute Transfer
Once confirmed, the system deducts funds from the sender’s account.
The currency conversion is executed in real-time based on the exchange rate.
The transfer is processed as a Bank Transfer transaction.
Limitations
Limitation | Details |
|---|---|
Transaction Type | Only Bank Transfers are supported. |
Scheduled Transfers | Not available. Attempting to schedule a transfer will result in an error. |
Drafts Handling | Convert & Send drafts are redirected to the Bank Transfer section for consistency. |
Security
Currency conversion occurs in real time to ensure up-to-date exchange rates.
All transfers follow Crassula’s banking security protocols to ensure compliance..