To create a conversion for a future date, head to the Conversions tab of Airwallex’s webapp.
Step 1. Navigate to Conversions in the sidebar and select New conversion
The Conversions page is located under the Wallet section on the left-hand side menu. Select New conversion in the top right of the page to start creating a conversion.
Please note that only users with the 'Create' permission under Conversions in User Management will be able to create a conversion. To manage user permissions, please refer to our User Role Management guide.
Step 2. Select From and To currencies and enter the amount to be converted
Select the currencies you want to convert between by clicking the “From” and “To” currencies to open a dropdown with available currencies.
Once you’ve selected the currencies you want to convert, enter the amount you want to convert in either the “From” or “To” field.
Step 3. Choose the date you want to convert on
Enter the date you would like the conversion to be settled in the “Convert on” field. Once you have chosen a date, information about the required prepayment will be shown. The prepayment will be deducted from your available balance immediately, and the remainder of the From amount will be deducted on the date of the conversion.
The displayed exchange rate will remain fixed for seconds, after which it will refresh automatically.
Step 4. Review and confirm your conversion
When you select Next, you will be shown an overview of the conversion to review before confirming. This page shows the conversion from and to amounts, as well as the conversion rate, settlement date and prepayment information. You will also need to confirm that the proceeds of your conversion will be used for one of the permissible purposes.
If you are comfortable with the conversion details, select Confirm. Please note that once you confirm the conversion, it cannot be cancelled.
What to expect after you create the conversion
After you confirm the conversion, you will be able to view the details in the Conversions page. The conversion will be listed as Scheduled until the conversion date. By clicking on the row you will be able to see the full details of the conversion and the prepayment.
You can see the details of your prepayments on the Wallet page.
In the from currency cash balance page you’ll be able to see the prepayment that you’ve made, as well as the upcoming conversion details. On the conversion date, the prepayment will be credited back to your balance and we will deduct the full conversion amount to simplify your accounting and reconciliation process.