Yes, you can automatically convert any foreign currency deposit you receive to your base currency by enabling the Auto-Convert feature in your OFX account.

Why use Auto-Convert?

Auto-Convert helps you manage your cash flow and reduce currency risk by ensuring that all incoming foreign currency deposits are immediately converted to your base currency at the current spot rate. This means you don’t have to manually monitor your account or initiate conversions each time you receive funds in a foreign currency.

Next Steps: How to enable Auto-Convert

1. Log into your OFX account.

2. Go to the Setup / Account page.

   

3. Locate the Auto-convert toggle.

   

4. Switch the toggle ON to enable automatic conversion.

   

5. You must have Company: Manage permission to enable or disable this feature.

Once enabled, any foreign currency deposit you receive will be automatically converted to your base currency as soon as it lands, using the prevailing spot rate.

Example

If your base currency is AUD and you receive a deposit in USD, the system will automatically convert the USD deposit to AUD at the spot rate when the funds arrive.

Related Articles

• What is Auto-Convert and how does it work?

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• How do I handle multi-currency budgets?