Knowledge Base

What currencies can I accept payments in?

We get this question often at Click & Pledge. But this question has different answers depending on the context. Let’s discuss 2 common situations and answer each question in context.
 

Scenario 1

You are an organization that has offices in multiple countries and you wish to receive funds in different currencies.

 

Can my organization receive funds in the corresponding currencies where our offices reside?
YES



Click & Pledge works with multiple processors around the world so you can set up accounts that process in U.S. dollars, Canadian dollars, Euros, British pounds and Hong Kong dollars. Each account processes in the currency of the account’s gateway bank. So, to have accounts for different currencies, you need to apply for multiple accounts, one for each currency.
 

Example


Let’s say your organization has offices in the United States, Canada and Italy. To process transactions in each of these counties’ currencies you will need to open a separate Click & Pledge account for each currency. So, when the Italian office receives payments or processes using their European Click & Pledge account, those payments are deposited to their European bank account in Euros. When the Canadian office received payments using their Canadian Click & Pledge account, those payments are deposited to their Canadian bank account in Canadian Dollars. And the United Stated based organization, processing through their U.S. Click & Pledge account, receives deposits to their U.S. bank account in U.S. dollars.
 
 

Scenario 2

Your organization wants patrons from anywhere in the world to donate or make payments to your organization and have those funds deposited into your bank account in your currency.
 

Can my organization accept payments from patrons from other countries using my organization’s Click & Pledge account?
YES



When an international patron does a transaction through your Click & Pledge account, your international patron’s bank card currency will be converted to the currency of your merchant bank account and deposited. There is nothing you need to do. It all happens automatically.
 

Example

Let’s say you are a Canadian organization with a corresponding Canadian Click & Pledge account. You have a supporter in Japan who gives your organization a Can$10 donation through your Canadian Click & Pledge account. Your patron’s credit card will show the payment in their bank card’s currency, in this case it is 903 Japanese Yen based on the currency exchange rate of the day this article was written. The bank automatically converts the Japanese yen to Canadian dollars which is then deposited into your bank account.

Really, it’s the same situation when you travel abroad. While traveling overseas on vacation you pay for your lunch using your credit card. The currency conversion is automatically done and the restaurant receives payment in their own currency.
 

The Bottom Line

If your organization is in multiple countries and you wish to have deposits made to accounts in different counties, then you need to apply for multiple Click & Pledge accounts with the corresponding currencies.

If your organization is based in one country and you want to receive donations from anywhere in the world, you only need your one Click & Pledge account. Those transactions from other counties are converted to your Click & pledge account’s currency and deposited into your bank account.
 


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