Multi-Currency Expenses
When the currency of a Collective and the currency of your payment method don't match, Open Collective allows you to choose what currency works best for you.
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When the currency of a Collective and the currency of your payment method don't match, Open Collective allows you to choose what currency works best for you.
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When submitting an invoice or reimbursement, you can choose to submit in the currency of the Collective or the currency of your payment method.
Wise: Collective currency or payout method currency, with the limitation of the currencies that are supported by Wise
PayPal: Any currency supported by PayPal
Other: Any currency accepted by the Fiscal Host. Please contact the host admin if you're unsure about whether it will be accepted.
When making a payment you will receive the full amount in the currency you selected, regardless of fluctuations in currency rates.
How do we calculate our Exchange Rate?
We rely on the payout provider (Wise, PayPal) whenever possible
Otherwise, we fall back on internal caching and third-party APIs, mostly https://fixer.io
This feature is not available when the Fiscal Host currency differs from the Collective currency.