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 21 jurisdictions and in one of the 21 currencies that your Business account is able to accept.
To find out whether your Business Account can accept the currency you are looking to transfer in, you can find more information in your ‘Company Account’ tab or download the information sheet here. 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.
Viewing the live currency exchange rate
To see what the current exchange rate is, click "view our conversion rates". Here, you'll be able to see how much you need to send in your local currency to make a specific payment in GBP.
These rates are live and change frequently, so be sure to check them before you make a transfer.
How to 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 from.
The cut off times to send money the same day will vary between jurisdictions. If you have missed the cut off 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 (this is visible at the top of the account page). To exchange the currency, click 'exchange this into GBP'. 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.
Your GetGround company account has no fees attached for standard GBP transfers in or out. If you need to complete a currency exchange, we charge a low rate of 0.5%.
Sending international currency back
Your International account does not have the capability to send your funds back, or to convert GBP back to your original currency. That being said, if you change your mind or would like to send your international currency back to your original account, please get in touch with us so that we can arrange this for you.