Commission for currency exchange
The commission for currency exchange operation will be added for “sell” or deducted for “buy” from the system exchange rate.
What are “Sell” and “Buy” from the system point-of-view:
- sell – system sells currency to a customer, so the commission will be added to the system exchange rate
- buy – system buys currency from a customer, so the commission will be deducted from the system exchange rate.
See currency exchange calculation table
Example 1:
UAH to USD (source currency is UAH):
system rate is 27
commission for sell USD is + (1%)
commission for buy USD is – (0.5%)
Operation: system – buys 2700 UAH and sells USD (client – sells 2700 UAH and buys USD)
rate for selling USD = 27 + (1%(27)) = 27.27
operation: 2700/27.27 = 99.00
• 2700 will be deducted from UAH wallet
• 99.00 will be added to USD wallet
Operation: system – sells 2700 UAH and buys USD (client – buys 2700 UAH and sells USD)
rate for buying USD = 27 – (0.5%(27)) = 26.865
operation: 2700/26.865 = 100.50
• 2700 will be added to UAH wallet
• 100.50 will be deducted from USD wallet
Example 2 with commission ranges:
system rate is 27
commission for sell USD is
Condition 1:
• Amount range: (0-3000)
• Commission: (+ (1%))
Condition 2:
• Amount range: (3000 and more)
• Commission: (+ (2%))
commission for buy USD is
Condition 1:
• Amount range: (0-3000)
• Commission: (- (0.5%))
Condition 2:
• Amount range: (3000 and more)
• Commission: (- (0.5%))
The calculation for sell and buy 2700 UAH will be the same as above.
Operation: system – buys 5400 UAH and sells USD (client – sells 5400 UAH and buys USD)
rate for sell USD = 27 + (2%(27)) = 27.54
operation: 5400/27.54 = 196.078
• 5400 will be deducted from UAH wallet
• 196.078 will be added to USD wallet
Operation: system – sells 5400 UAH and buys USD (client – buys 5400 UAH and sells USD)
rate for buy USD = 27 – (0.5%(27)) = 26.865
operation: 5400/26.865 = 201.005
• 5400 will be added to UAH wallet
• 201.005 will be deducted from USD wallet