With the merchant currency settlement method, card transactions are processed in the merchant's currency and debited from the corresponding currency accounts. This option is particularly beneficial if you’re already holding the foreign currency your team is spending money in, eliminating the need for unnecessary currency conversions.
You will always have access to 0% FX and card transaction fees, provided that the required currency account maintains a sufficient balance.
Example
You have selected the merchant currency method in the settings in the admin area. No fees are charged if you have a sufficient balance in the required currency account (as per the merchant's currency).
For example, you have CZK 2'000 in your company's CZK currency account. You are in Prague and pay for a dinner in the merchant currency, which costs CZK 800. When swiping your amnis card, we automatically charge your CZK currency account and no foreign exchange or other transaction fees will occur. Your remaining balance will be CZK 1'200.
If a currency exchange is needed, for example, because the respective currency account has an insufficient balance or you don't yet hold the needed merchant's currency account at amnis, we handle it automatically as follows:
You want to pay in the merchant's currency but you do not have the currency account
To ensure your card transaction is processed successfully, we will automatically debit the required amount in your card’s currency, which is typically the currency of the country where your card was issued.
We do not automatically open new currency accounts, giving you full control over your multi-currency setup and allowing you to manage only the currencies where you already hold funds. However, you can easily add a new currency account in your amnis account with just one click, at no additional cost. Plus, neither foreign exchange margins nor transaction fees will be applied to your debit card transactions, regardless of the currency involved (*).
You want to pay in the merchant's currency and have the currency account, but its balance is insufficient
We automatically convert the full amount from your reference currency into the merchant currency so that you have enough funds to settle the bill locally. The usual amnis fx margin applies (**).
You want to pay with a merchant's currency that amnis does not offer (exotic currency)
The standard Mastercard exchange rate (***) is charged directly by Mastercard and your reference currency wallet is debited with the required amount.
An overview of the currencies supported by amnis can be found in this article.
Would you like to change your card transaction currency settings?
👉 In this article, we explain the difference between the merchant and the card currency and which settlement method might be more beneficial, depending on your bookkeeping preferences, payment flows and debit card usage.
* To this end, amnis converts card transactions in foreign currencies with the daily Mastercard fixing at 0% bank fee (learn more about the Mastercard rates here).
** If a currency conversion is needed, we charge our transparent and fixed fx & international payment fees according to your selected plan (max. 0.4% fx margin, 0% transaction fees). In any case, there are no card transaction or processing fees incurred.
*** If you want to pay in a currency that amnis doesn't offer (exotic currency), Mastercard charges its own fx fees, which can be found here.