--- title: "Currency exchange and FX in Qualy" description: "Collect in one currency and settle in another—how exchange rates, markups and FX timelines work." lastModified: "2026-06-13" lang: "en" wordCount: 758 url: https://qualyhq.com/training/payments/currency-exchange-and-fx --- ## Site navigation - [For schools](/international-education/for-schools.md) — For international education schools - [For agents](/international-education/for-education-agents.md) — For international education agents - [Explore](/training.md) — Watch videos on how to use Qualy - [About](/about.md) — Learn about Qualy's mission and values - [Pricing](/pricing) - [5-min demo](/demo.md) - [Login](https://dashboard.qualyhq.com) # Currency exchange and FX in Qualy > Take payments in the customer's currency and get paid in yours. ## At a glance - **Intended for:** Everyone - **Available in:** All plans - **Reading time:** 4 minutes - **Last updated:** 31st May 2026 ## Quick summary Qualy can collect in the customer's currency and settle to you in another. An exchange rate is applied, plus any markup you've set. You can get an FX quote, and each converted payout has an FX timeline (quoted, funds sent, provider funded, paid). 'FX' simply means currency conversion. ## Overview International education is, by definition, cross-currency. Qualy lets you **collect in the customer's currency** and **settle in yours**, handling the exchange behind the scenes. ("FX" is just short for **currency conversion**.) ## How conversion works 1. You **price** in your currency 2. Optionally, the customer **pays** in their currency 3. Qualy applies an **exchange rate**, plus any **markup** you've set 4. You're **settled** in your currency A **markup** is an amount added on top of the market rate. When one applies, Qualy shows that "a markup has been applied" so the rate isn't mistaken for the raw market rate. ## Splits still pay each partner directly A currency conversion doesn't change how a split works. **Each partner's share is sent directly to that partner**—even when they're in another country and paid in another currency. So if you collect tuition for a school overseas, the school receives its share directly; you're never left holding the school's money or forwarding it on by hand. You collect once, and everyone gets their share in the right currency. ## Getting a quote You can get an **FX quote** to see the rate and amount—including any margin—before you proceed, so there are no surprises. ## The FX timeline Each converted payout has a **currency exchange timeline** so you can follow the money: ### Rate quoted The exchange rate is locked for this payout. ### Funds sent to provider Money has left Qualy toward the currency exchange provider. ### Provider received funds The provider confirmed receipt of the source amount. ### Paid in final currency The converted amount is sent to the recipient's bank account. Each exchange also has its own **reference** so you can find it again. Turn on conversion and set your markup once in **Settings → Currency exchange**, and it applies automatically wherever a currency needs converting. ## Frequently asked questions ### What does FX mean in Qualy? FX is short for currency conversion. It covers collecting in one currency and settling in another, and the exchange rate that applies. ### Can I collect in a currency different from the one I price in? Yes. Qualy can collect in the customer's currency and convert to your settlement currency, applying an exchange rate and any markup you've configured. ### When a conversion is involved, who pays the school its share? Qualy does, directly. The split works exactly as normal—the school's share is sent straight to the school, even when it's in another country or currency. You're never left holding or forwarding the school's money; each partner receives its share directly. ### What is a markup? An amount you add on top of the market exchange rate. When a markup applies, the rate isn't the raw market rate—Qualy shows that a markup was applied. ### Can I see a rate before committing? Yes. You can get an FX quote to see the rate and amount, including any margin, before proceeding. ### How do I track a currency exchange? Each converted payout has a currency exchange timeline you can follow: the rate is quoted, the money is sent to the currency exchange provider, the provider confirms it received the funds, and the converted amount is paid out in the final currency. Each exchange also has its own reference so you can find it again. ### What happens if the exchange rate moves between the payment and the payout? Qualy locks in a rate for each converted payout, so the conversion is predictable. You can set a flexibility threshold for small rate movements, and choose whether to pass a favourable rate movement on. You configure all of this once in Settings → Currency exchange. ### Where do I configure currency conversion and markups? In Settings → Currency exchange. There you turn conversion on, set your markup (one default, with an optional different markup per currency), choose whether to prioritise a stable rate or the lowest cost, and set how much rate movement to tolerate. ## Prefer doing this via the Qualy API? Head over to our developer docs for everything you need—endpoints, examples, and simple how-tos. 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