WooCommerce Payments can accept payments in over 100 different currencies. Currency conversion fees are applied when your customer’s currency is different to your account’s deposit currency. Deposits in multiple currencies are available to avoid these currency conversion fees.
Based on your country, one or more bank accounts with different currencies can be added to WooCommerce Payments. When using multiple bank accounts, a default deposit currency must be selected. Any payments you receive that aren’t in a deposit currency you have a bank account for are converted into your default deposit currency.
Example: A store located in Germany has a default bank account in Euro (EUR) and sells their products to customers in Switzerland as well. After adding a second bank account in Swiss francs (CHF), payments using CHF as the customer currency will be deposited to the second CHF account, while all other payments will be converted to EUR and deposited to the default account.
WooCommerce Payments supports the following countries and deposit currencies for each. (Note that only one bank account can be added per currency.)
|Country||Currency||Can be deposited to banks in…|
|Austria, Belgium, France, Germany, Ireland, Italy, Netherlands, Poland, Portugal, Spain, Switzerland, United Kingdom||EUR||Austria, Belgium, Bulgaria, Switzerland, Cyprus, Czech Republic, Germany, Denmark, Estonia, Spain, Finland, France, United Kingdom, Gibraltar, Greece, Croatia, Hungary, Ireland, Italy, Liechtenstein, Lithuania, Luxembourg, Latvia, Malta, Netherlands, Norway, Poland, Portugal, Romania, Sweden, Slovenia, Slovakia|
|GBP||United Kingdom, Gibraltar|
|USD||United States, Canada|
|Hong Kong||HKD||Hong Kong|
|New Zealand||NZD||New Zealand|
|United States||USD||United States|
Assuming the chart above shows that your WooCommerce Payments account can deposit into bank accounts in multiple currencies, you can do so following these steps:
- Go to Payments > Overview in your WordPress dashboard.
- Click Account Details box, click the “Edit details” link.
- You will be taken to
connect.stripe.comto log in.
- Enter the 6-digit code sent to your phone number.
- In the Stripe Express dashboard, click the person icon in the upper-right.
- In the Payout Details section, click the name of your store.
- You may see multiple stores listed here if you have more than one site using WooCommerce Payments.
- The bank account you added during the signup process will be shown.
- Click the Add an account button to add another bank account for a different currency.
- Fill out the bank account information and click the Save button at the bottom.
- Both bank accounts will be shown, along with the currency each one accepts.
- Click Done.
- You should see a “Payout details updated” alert box.
- Click the Sign Out button to sign out of the Stripe Express dashboard.
All payments made in a currency without an associated bank account will be converted to the currency of your default bank account and deposited there.
To set your default bank account, begin by following the same instructions as above to add at least one additional bank account.
After you’ve added multiple accounts, you can change the default by clicking the Change Default Currency button and picking which currency you would like to use as the default.
With multiple bank accounts added, WooCommerce Payments will create separate deposit balances for each currency.
The Payments Overview screen will include a summary for each currency, including:
- Deposit schedule
- Pending balance
- Next deposit
- Last deposit
- Available balance
- Instant deposits (for eligible accounts)