Multi-Currency Transactions

USD Subsidiary/Entity

Debit customers with a USD Teampay subsidiary or entity can use virtual cards across various transaction currencies, but all purchase requests must originate in USD and should account for potential FX rate variances between the date of request and payment.

Purchase transactions made in foreign currencies will be converted to and recorded in USD based on the partner bank’s foreign exchange rate at the time of sale. These transactions will be available to sync in Sage Intacct & Netsuite with subsidiaries or entities that have a base currency of USD.

Non-USD Subsidiary/Entity

Teampay can support non-USD subsidiaries by creating multiple Teampay instances in each desired base currency. Currently, in a non-USD subsidiary set-up, purchase requests and subsequent payments can only be made in the base currency designated to that subsidiary to avoid declines. Transactions will sync in Sage Intacct & Netsuite to subsidiaries or entities that have the same base currency.

Please note that at this time, non-USD subsidiaries must still be funded in USD.

For more information on multi-currency setup, please reach out to your Customer Success Manager.