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Academy

FX Conversions

  • Convert Currencies (FX)

    Make currency conversions at highly competitive rates between your Currency Accounts.

    Watch the video to learn how to make Foreign Exchange (FX) Conversions

     

    Important Notes:

    • There is no transaction fee for making a currency conversion. The FX rate is based off of the mid-market rate along with a nominal markup.

    • FX conversion schedule will be determined by the currency cut off time.

    • Currency exchange is supported in a wide range of currency pairs.

    • If you need to cancel a currency conversion, please contact support@paynode.com.

    Learn more about managing your Currency Accounts by using the links below.

    1. Account Console Overview.

    2. How to receive funds locally.

    3. How to add a beneficiary.

    4. How to pay a third party or yourself.

    See more
  • Cut off Times for FX Conversions

    FX Timelines

    Our foreign exchange (FX) schedules tell you everything you need to know to make your conversion on time. As long as you create your conversion before the given cutoff time, the conversions will settle on the same day. If you miss the cutoff time, the conversion will settle on the next business day.

     

    NOTE: You will be provided with the Settlement Date prior to completing your conversion. 

     

    When using the table below, the cutoff time of the currency with the higher rank applies.

    Rank Currency (ISO) Cutoff time (UK Time) Cutoff time (Eastern Time NYC) Cutoff time (Singapore Time SGT)
    1 Chinese Yuan (CNY) 08:00 03:00 15:00
    2 Thai Baht (THB) 08:00 03:00 15:00
    3 Ugandan Shilling (UGX) 08:00 03:00 15:00
    4 Australian Dollar (AUD) 13:00 08:00 20:00
    5 Bahrain Dinar (BHD) 13:00 08:00 20:00
    6 Hong Kong Dollar (HKD) 13:00 08:00 20:00
    7 Israeli Shekel (ILS) 13:00 08:00 20:00
    8 Japanese Yen (JPY) 13:00 08:00 20:00
    9 Kenyan Shilling (KES) 13:00 08:00 20:00
    10 Kuwait Dinar (KWD) 13:00 08:00 20:00
    11 New Zealand Dollar (NZD) 13:00 08:00 20:00
    12 Omani Rial (OMR) 13:00 08:00 20:00
    13 Qatar Rial (QAR) 13:00 08:00 20:00
    14 Saudi Riyal (SAR) 13:00 08:00 20:00
    15 Singapore Dollar (SGD) 13:00 08:00 20:00
    16 United Arab Emirates Dirham  (AED) 13:00 08:00 20:00
    17 Croatian Kuna (HRK) 15:00 10:00 22:00
    18 Bulgarian Lev (BGN) 15:30 10.30 22:30
    19 Indian Rupee (INR)** 16:30 11.30 23:30
    20 Indonesian Rupiah (IDR)** 16:30 11.30 23:30
    21 Malaysian Ringgit (MYR)** 16:30 11.30 23:30
    22 Philippine Peso (PHP)** 16:30 11.30 23:30
    23 Czech Koruna (CZK) 08:00 03:00 15:00
    24 Hungarian Forint (HUF) 08:00 03:00 15:00
    25 Mexican Peso (MXN) 08:00 03:00 15:00
    26 Romanian Leu (RON) 08:00 03:00 15:00
    27 Russian Ruble   (RUB)*** 08:00 03:00 15:00
    28 Polish Zloty (PLN) 08:30 03:30 15:30
    29 Turkish Lira (TRY) 08:30 03:30 15:30
    30 Danish Krone (DKK) 09:30 04:30 16:30
    31 Norwegian Krone (NOK) 09:30 04:30 16:30
    32 South African Rand (ZAR) 09:30 04:30 16:30
    33 Swedish Krona (SEK) 09:30 04:30 16:30
    34 Swiss franc (CHF) 09:30 04:30 16:30
    35 Euro (EUR) 13:50 08:50 20:50
    36 UK Sterling (GBP) 14:20 09:20 21:20
    37 US Dollar (USD) 15:50 10:50 22:50
    38 Canadian Dollar (CAD) 16:20 11:20 23:20

     

    Exceptions: Some conversions do not conform to the above cutoff times. These exceptions are detailed below:

    Selling Buying Cutoff time (UK Time) Cutoff time (Eastern Time) Cutoff time (Singapore Time SGT)
    UK Sterling (GBP) US Dollar (USD) 15:30 10.30 22:30

     

    Note: U.K. time zones
    The FX and Payment cutoff times on our platform and APIs are shown in Coordinated Universal Time (UTC), which is in sync with Greenwich Mean Time (GMT)

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