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Foreign exchange lets you convert a balance from one currency to another through an FX-capable connector. It is useful when you collect in one currency — for example KES — and need to hold or settle in another.

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How it works

1

Check which connectors support FX

Not every connector can convert currency. You first see which of your connectors support FX and which currencies they cover. Choice Bank is the FX-capable connector.
2

Get a quote

A quote tells you the exchange rate, the amount you will receive in the target currency, and the total amount that will be debited in the source currency. A quote is indicative — it is not saved and does not move any money.
3

Execute the conversion

Executing records an FX transaction and starts the conversion. The transaction is saved and awaits settlement.
4

Settlement and ledger

The conversion settles, and the movement is recorded in your ledger: a debit in the source currency and a credit in the target currency.

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Transaction lifecycle

Every FX transaction moves through these statuses: Each transaction also carries a notification status — pending, sent, or failed — which tracks whether the settlement notification reached the connector.

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When to use it

  • You collect payments in KES but settle with a supplier in USD. Convert a KES balance to USD before paying out.
  • You want to hold funds in a target currency to reduce exposure to exchange-rate movement between collection and settlement.