When you delete a payment that involves an FX conversion, it does not automatically cancel the linked currency conversion. Payments and conversions are managed independently within the OFX system. You can delete a payment if its status is Drafts, Needs Approval, Scheduled, Processing or Awaiting Funds. However, once a payment has moved to Done and funds have been released, it cannot be deleted or cancelled.

Similarly, you can cancel a conversion if its in a status of Scheduled or Awaiting funds. You cannot cancel the linked conversion if its in a status of Done, Delinquent, Cancelled or Reverted. 

To cancel a conversion linked to a payment, you must do so separately through the scheduled conversion cancellation process, which may incur costs depending on market conditions and timing. Refer to the following article for details: How do I cancel a conversion? 

When you delete a payment that includes a foreign exchange (FX) component, the following applies:

1. Payment Deletion: Deleting the payment will remove it from your scheduled transactions.

2. Conversion Status: The associated FX conversion may not automatically be cancelled when the payment is deleted. 

In the event that the Payment is not completed due to funds being required, you can cancel the linked conversion. 

Do the following steps to cancel  the linked conversion:

1. Log into your OFX account.

2. Select "Payments" from the left navigation menu sidebar:

3. Identify the payment with the linked conversion. 

4. Click on the 3 dots to reveal the additional menu options. Click on "Delete".

5. A screen is displayed with a checkbox to also cancel the linked conversion. This is selected by default. Click on the checkbox to remove the selection and not to link the cancellation of the conversion.

It is important to review both the payment and conversion statuses after deletion to confirm that all desired actions have been taken.

Why is this page important?

Understanding the distinction between payments and conversions helps avoid unintended cancellations or fees. It ensures customers manage their transactions effectively without disrupting other related processes.

Next Steps:

After deleting the payment, navigate to the Conversions section of your account:

1. Click on "Accounts" from the left navigation menu sidebar. Click on "Conversions" to open the conversions.

2. Check the status of the associated FX conversion. Use the tabs at the top to navigate to the relevant conversion. For a cancelled conversion linked to a payment, click on "Cancelled" tab to reveal the associated conversion.

3. Click to reveal the related conversion.