Multicurrency settlement (MCS) with Cin7 Pay
Overview
Cin7 Pay supports multicurrency settlement (MCS), which lets you avoid currency conversion by adding foreign currency bank accounts.
When you accept payments in multiple currencies, payouts are made in the original currency once the minimum payout amount is reached. Minimums vary by currency, and a multicurrency settlement fee applies.
MCS is available by default for businesses in the United States, Canada, European Union, and United Kingdom. If your business is based outside these regions, contact support to enable MCS.
Set up MCS (add bank account)
Foreign-currency settlement accounts must be held with banks in specific supported countries. Contact Cin7 Support for details.
To set up MCS, add a foreign-currency settlement account:
On your Cin7 Pay dashboard, open the Account and setup tab.
Under Account > Account details > Payout details, click Add bank account.
On the dialog, click Link another account.
Follow the on-screen instructions.
Change default currency
Payments in currencies without a matching bank account are automatically converted and paid out in your default currency, which you can change at any time.
On your Cin7 Pay dashboard, open the Account and setup tab.
Under Account > Account details > Payout details, click Add bank account.
On the dialog, click Change default currency.
Choose a new Default currency.
Submit.