How do currencies and exchange rates work?
Payments can involve more than one currency. This article explains how currencies and exchange rates work on ZOMZEY.
Use the currency shown in the live opportunity, offer and checkout flow; where conversion is required, the payment provider, card issuer or payout provider may apply its own rate or conversion charge.
Exchange rates: what you need to know
- Make sure both parties understand the deal currency before accepting the offer.
- Do not assume a profile display currency means every payment method can settle in that currency.
- The amount debited from a card or received into a bank account can differ after a third-party currency conversion.
- Use the final checkout amount and the provider transaction record for accounting rather than an old approximate conversion.
- If a supported currency changes, the current live payment screen takes priority over an older Help Centre article.
Common questions about exchange rates
Who sets the exchange rates on ZOMZEY payments?
The payment provider, Stripe, applies its rate at the moment a conversion happens, and ZOMZEY does not add a margin of its own. The rate and any conversion fee are shown by the provider at payment or payout time.
Can I avoid exchange rates altogether?
Agree the deal in the currency you are paid out in, where the opportunity allows it, and keep your payout account in that currency. Conversions only happen when the funding currency, the deal currency and the payout currency differ.
Why does my payout differ slightly from the deal amount?
Exchange rates move between the day a deal is funded and the day it is paid out, and a conversion fee may apply. The deal page shows the amount released and the payout record shows what was received, so the difference can be traced.
Do exchange rates affect the commission?
Commission is calculated on the deal amount in the deal currency before any conversion, so changing exchange rates alter what you receive in your own currency but not the percentage ZOMZEY retains.
Where can I see the exchange rates that were applied?
The payment provider shows the rate and any conversion fee on the payment or payout record, and your own bank statement shows the final figure in your currency. Keep both for your records if you account in more than one currency.
In short, exchange rates on ZOMZEY come from the payment provider at the time of each conversion, you can avoid them by matching the deal and payout currencies, and commission is always calculated before any conversion.
Related help
- Where can I find payment records, receipts or invoices?
- What should I do before filing a card chargeback or bank dispute?
- ZOMZEY Protected Payments
Further guidance: Stripe: currency conversions.
