You can hold and convert currencies straight from your business account
You can convert foreign currency to GBP within your company account from a UK or overseas account as long as it is from one of the accepted jurisdictions and in one of the 31 currencies that your Business account can accept.
Converting your currency
If your business account shows another currency, this means you will need to convert it to GBP first. You can find out how to convert the currency using the steps below:
- Head over to the ‘Portfolio’ page and click ‘View’ on the relevant business account
- You will notice that there is another currency pot displayed
- You can select ‘Convert’ and confirm the exchange
- Once confirmed, you should now see your funds appear in your UK business account
Before you make your transfer, please ensure that you are transferring currency from a country that is on our list. If your Business Account cannot accept your transfer, it will fail. We will never charge for a failed transfer, but your bank might.
Transfer funds and convert them to GBP
To transfer funds, you'll need to copy the IBAN and BIC from your GetGround dashboard. Then you'll need to use your international bank account to send the amount you want to exchange to GBP. Again, please check to make sure that we can accept your currency from the country you'd like to transfer funds.
The cutoff times to send money on the same day will vary between jurisdictions. If you have missed the cutoff time for today, the money will be sent the following day. Please make sure that you allow enough time for the funds to reach your Business Account in the event that you need to make an urgent payment.
Once the money is in your account, we will hold the funds in the original currency. To exchange the currency, click 'exchange' Here, you can view the live currency rate and convert it when you choose to. You do not need to convert the whole amount at once.
The exact rate that will be applied will be the rate that is live the moment you click "Perform Currency Exchange". You can then use your currency once it has been converted into GBP.
What time does trading begin?
Our trading time begins on Sunday at 17:02 ET and closes on Friday at 17:00 ET. This however doesn’t mean that a quote will always be available at exactly that time as it will depend on several different factors including the type of trade you’re booking.
If you have any questions, you can email us at gethelp@getground.co.uk