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Foreign Exchange Fees Explained

impact.com allows brands and partners to agree mutually to contract terms in either one of their currencies. However, paying out or receiving commissions in a different currency to that of the contract terms incurs exchange rate fees, and programs running in multiple regions with one account cannot avoid these fees. Depending on the scenario, either you or your partners will have to cover these fees.

For example

  • If your wallet currency is USD and the contract currency with your partner is USD, but the partner’s withdrawal currency is not USD, then the partner will take on the exchange rate fee and earn a little less commission. Unless the cart currency matches the partner’s currency, then the commission is based on % of the sale.

  • If your wallet currency is USD, but the contract currency with your partner is EUR and the partner’s withdrawal currency is EUR, then you will take on the exchange rate fee and have to fund a little more.

The only way to avoid said fees is to have multiple accounts, each in the respective region's currency, and then to contract partners within that same region or currency.

Check your account currency

  1. From the left navigation menu, select ContractsContracts.

  2. On the far right of the contract you’d like to verify, select ellipsis-h-solid__1_.svg [More] → View.

  3. Scroll to the General Terms section, in the Currency field it should stipulate the currency that was agreed upon.

    Screenshot_2023-11-27_at_3_24_30_PM.png

How do impact.com's FOREX calculations work?

If a payout is either received or paid in a currency different from your contract, a FOREX calculation must be performed. At impact.com, exchange rate calculations are performed on the action date rather than the payout date, and these values don't change.

It may be worth noting that the rate impact.com uses for calculation is higher than the Bloomberg rate which you may find on online FOREX sites, because impact.com can't buy currencies at the Bloomberg exchange rate. However, impact.com's system aims to simplify the process for both brands and partners, by accurately reporting the exact expense due upon brands and the expected income for partners at the time of the event.

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