Your organisation will receive all payouts in a single base currency of your preference. Payments made in other currencies by donors are converted into this base currency for payout purposes.
How are currency conversions handled?
Currency conversions are managed by the payment service provider (PSP). Koalect receives both the payment currency and amount, as well as the converted payout currency and amount to ensure accurate accounting and reporting. Conversion rates are refreshed daily, using rates from the European Central Bank (ECB).
Are all fees (RaiseNow, PSP, bank fees) included in payout amounts?
Yes, payout amounts reflect the net amount after all fees are deducted, including those by RaiseNow, Tamaro, the PSP, and banks.