All articles have been moved to https://support.reachdesk.com. Please find this articles in https://support.reachdesk.com/hc/en-gb/search?utf8=%E2%9C%93&query=Automatic%20currency%20conversion%20on%20sends.

Instead of managing balances in multiple currencies, users can now select any payment currency they want to use to send any campaign from our platform.


What does this mean?

  • The user balance used to send a campaign does not have to match the campaign's currency. For e.g. Cupcakes in USD can be sent using GBP.

  • Once a payment currency is selected, it automatically converts the cost of the campaign to the chosen currency. The most recent exchange rate is used for this conversion.

  • The user can have a Preferred Currency which is the default payment currency that will be used in the Sends page.


How does this work? What will change in the process?

USERS or ADMINS SHOULD SET A PREFERRED CURRENCY

This is the default payment currency specific to each user that will be used in the Sends page.

Users can update their own Preferred Currency in their Profile page.

Admins can update any user's Preferred Currency by editing a User in the Organization > Users page.

USERS CAN SELECT A PAYMENT CURRENCY WHEN SENDING AN ENGAGE

  1. Click Send engage to go to the list of campaigns that you can send.

  2. Select the Payment Currency you want to use.

    • This defaults to the User's Preferred Currency in their Profile page.

    • This shows the currency user balance available for each currency.

    • This will automatically show the converted cost of all campaigns.

3. Select a campaign you want to send. In each campaign type, you will have the option to choose the Payment Currency again in the Settings Page, and see the final converted cost in the Review Page.

Example of how this looks for Marketplace Engages:

The Payment Amount will show the amount in the currency chosen and the equivalent cost in the campaign's original currency. For e.g. GBP 167.97 is the payment amount and originally, this was EUR 198.00.

4. When the campaign is sent, the user will be charged with the converted payment cost. This will be shown in the both the Sends page and the Balances > Transactions page.

Example of how this looks in the Sends page (Cost Column)

ADMINS CAN SET THE PAYMENT CURRENCY IN A TRIGGERED CAMPAIGN

Since triggered campaigns are sent automatically depending on the configuration rules with the CRM integration, the payment currency must be set against the campaign. Note that this defaults to the triggered campaign's original currency, but can be updated.

For new Triggered Campaigns:

  1. Click on Triggered Campaigns.

  2. Click New Triggered Campaign.

  3. Select the Campaign Type you want to create.

  4. In each Campaign Type, you will see a Payment Currency that can be set, which will be the User Balance Currency used to send the triggered campaigns. Note that the user must have credit in this currency in order to send the campaign. Otherwise, it will go to Pending Review.

Example of how this looks for Marketplace Triggered Campaigns:

For existing Triggered Campaigns:

  1. Click on Triggered Campaigns.

  2. Select the Triggered Campaign you want to update.

  3. In each Campaign Type, you will see a Payment Currency that can be updated, which will be the User Balance Currency used to send the triggered campaigns. Note that the user must have credit in this currency in order to send the campaign. Otherwise, it will go to Pending Review.

Example of how this looks for Marketplace Triggered Campaigns:


Recommended Next Steps

We recommend the following best practices to make the best use out of this feature:

  • For Admins:

    • Update Users' Preferred Currency - If your company or certain team typically uses one base currency, please ensure that the users have the right preferred currency in their profile. This can be updated in the Users Page (if you are an admin) or in the User Profile page directly by the user. This ensures that when a user sends a campaign, the payment currency defaults to their preferred currency.

    • Ensure Users have balance in their Preferred Currency - If you have balance in multiple currencies due to the previous limitation of the platform, we recommend either consolidating this into your preferred currency (by requesting through our support team), or you can let users use up their balances and start topping up only in your company's preferred currency.

    • Update User Monthly Budget per Team - If you have the Team Budget settings configured to reset the user's monthly budget in multiple currencies, please feel free to only update this to use the user's preferred currency. For e.g. if previously, a user needed to have a GBP and USD budget, if their preferred currency is GBP, you only need to setup a GBP user budget in the Team Budget settings.

  • For Senders:

    • Update your Preferred Currency - If you want to use the same currency each time to pay for sends, then update your preferred currency in your profile so this becomes the default payment currency.


FAQs

How are we converting the cost to a different currency?

We use Open Exchange Rates to get the latest exchange rates for currencies used in the platform. The exchange rate values are refreshed everyday at 7:00am GMT.

Is it necessary to have a Preferred Currency to send campaigns using any currency?

Not really, but we recommend it so that you have that currency as your payment currency by default. You are free to change this anytime!

Where can we select a payment currency to automatically convert the cost of sending a campaign?

This feature is available for standard campaigns sent via the platform and triggered campaigns created in the platform. Note that this feature is not yet available for sends done via landing pages. This will be released later in Q4 2021.

Did this answer your question?