Fondy allows you to accept payments in 150+ currencies from 200+ countries worldwide and your customers to pay with their preferred currency. This option is time-saving for everyone as your customers don’t have any more to check with you the price of the goods or services in their local currency or try to find the currency exchange rate by themselves.
Currency conversion is the result of such payments, as your clients pay in their local currency and our mutual settlements with you are in hryvnias only in accordance with the Ukrainian legislation. Due to this, there may be a difference between the amount indicated on the payment page and the actual amount debited from the client account.
The difference between the amount on the payment page and the actual write-off amount from the client account may be the result of a variance between the Ukrainian commercial exchange rate and the commercial exchange rate of the payer’s issuing bank. This variance can be up to 30%. It can also be higher by another 10% due to currency risk fees of the foreign banks during the currency operation process. They deliberately undervalue the UAH exchange rate to protect themselves from losses in case of a sharp exchange rate change during the payment process.
How to explain the difference
We have prepared an answer template for you to explain the difference in the payment amount:
The amounts differ due to the difference between the Ukrainian commercial exchange rate and the commercial exchange rate of your bank. Also, due to the war in Ukraine, some foreign banks may include currency risk fees for Ukrainian payment processes by undervaluing the UAH exchange rate. Unfortunately, this process is not under our control. Sorry for the inconvenience and thank you for your understanding.