# Currencies

Depending on where your business is based, there are many currencies MONEI supports for making charges and transfers.

## Charge currencies[​](#charge-currencies "Direct link to Charge currencies")

No matter where your customers live, you can accept charges in your country's supported currencies from almost any credit or debit card. It's possible that customers in other countries will be charged additional fees by their bank.

If a customer makes charges with an unsupported currency or from a different country than the one where your business is based, there are two fees they might potentially see:

* **Bank conversion fees.** If your customer's currency isn't supported by MONEI, the bank will convert the charge to your default currency and add an additional fee for your customer.
* **Foreign transaction fees.** If your customer's bank is based in a different country than your business, it's possible that their bank will add additional fees. This is up to your customer's bank and will vary.

## Bank account currencies[​](#bank-account-currencies "Direct link to Bank account currencies")

In order to avoid conversion fees, users in some countries are able to set up multiple bank accounts to make transfers in multiple currencies. You are able to connect one bank account for each supported currency. Here are three details to consider:

* **Default bank account currency.** You can have multiple bank accounts, but you must choose one as your default account. If you receive transfers in a currency that you do not have a bank account for, the charges will be converted to the currency of your default bank account.

* **Currency conversion.** We automatically convert charges made in a different currency to your default bank account into your default currency using the current exchange rates. There are resources online that can help you determine the current exchange rate (such as Open Exchange Rates or Google's Currency Converter), but these numbers may not represent our rates at the time of the conversion, as they can frequently fluctuate.

* **Required bank locations.** The country where your currency is based doesn't need to be where your bank is located. USD bank accounts can be located in France, for example. There are a few exceptions:

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  * Canadian businesses with USD bank accounts based in Canada can receive transfers in USD
  * EUR bank accounts must be based in a country where MONEI is currently available
  * If the bank accepts transfers via BACS, a GBP bank account can be based in Ireland

## Supported currencies[​](#supported-currencies "Direct link to Supported currencies")

Every MONEI account can charge in **euros (EUR)** out of the box. No other currency is enabled automatically — if you want to charge in another currency, MONEI reviews your case and configures it if it makes sense for your business. The currencies merchants enable most often are US dollars (USD) and pound sterling (GBP), but others are possible.

| Code | Currency       | Availability                         |
| ---- | -------------- | ------------------------------------ |
| EUR  | Euro           | Enabled by default for every account |
| USD  | US Dollar      | On request, subject to review        |
| GBP  | Pound Sterling | On request, subject to review        |

Whether an additional currency can be enabled depends on factors such as your transaction volume, merchant profile, and acquiring setup. To request a currency, [contact MONEI support](https://support.monei.com/hc/requests/new).

By default, each payment settles in the currency it was charged in — charge in USD and you're settled in USD. You can [connect a bank account for each currency](#bank-account-currencies) so funds reach the right account, and the settlement currency itself can be configured on request. See [Payouts and settlements](https://docs.monei.com/manage-account/payouts-and-settlements/.md) for how and when you get paid.

## Set up currencies[​](#set-up "Direct link to Set up currencies")

Your account is set up with a default currency when you create it. To add additional currencies to your MONEI account, contact MONEI support [here](https://support.monei.com/hc/requests/new).

## Common questions[​](#common-questions "Direct link to Common questions")

### How do I add another currency?[​](#add-currency "Direct link to How do I add another currency?")

Contact MONEI support to add additional currencies beyond your default currency.

### Why might my customer be charged extra fees?[​](#extra-fees "Direct link to Why might my customer be charged extra fees?")

If the customer pays in an unsupported currency or from a bank in a different country, their bank may add conversion or foreign transaction fees.