Does Stripe convert currency
Yes, Stripe converts currency automatically when a customer pays in a currency that is different from your account's default settlement currency.
Your default settlement currency is set by the country your Stripe account is registered in. Stripe can accept charges in more than 135 currencies and converts each one into your payout currency when the transaction happens.
- Exchange rate: Stripe calculates conversions using the mid-market rate, which it bases on pricing data from third-party service providers.
- Conversion fee: A conversion fee is added on top of the regular processing fees. For standard international payments this is typically around 1% to 2% above the wholesale rate.
- Instant currency conversion: If you hold balances in several currencies, you can convert them yourself from the Stripe Dashboard. This manual option carries a fee of about 0.5%.
Because the conversion fee sits on top of processing charges, it helps to review Stripe pricing for your account's country before deciding which currencies to accept. Comparing the total cost of an automatic conversion with a manual conversion of a held balance can also show which route suits your payment volume.
To estimate your own costs, note your settlement currency, list the currencies your customers pay in, and check whether you plan to keep multi-currency balances or have everything paid out in one currency.