How does Delay conversions until payment approval works?

The Delay conversion until payment approval setting controls when the foreign exchange (FX) conversion linked to a payment is executed. When this setting is enabled, the linked conversion is held back while the payment is pending approval — the conversion will not execute until the required approval has been completed and the payment's scheduled date has been reached.

This is a company-level setting that affects how FX conversions are timed in relation to your payment approval workflow.

How the setting works:

Setting disabled (default): The linked conversion will execute on or after the payment's scheduled date, regardless of whether approval has been completed.
Setting enabled: The linked conversion will only execute after the payment has been approved and on or after the payment's scheduled date. If the payment is rejected, the conversion will not be executed as part of that rejected payment.

Next Steps:

To enable or disable the Delay conversion until approval setting

Log into your OFX account.
Navigate to Account
Find the Delay conversions until payment approval setting
You can turn on the to enable the setting.

Important: Rate implications by conversion type

The rate applied to your conversion depends on the conversion type:

Spot conversion: The rate is determined at the time the conversion executes. Enabling this setting may delay when the rate is established, which means the final rate could differ from what was quoted at the time the payment was submitted.
Fixed or guaranteed conversion (e.g. Forward Contract): The rate is fixed according to the applicable conversion flow. However, cancellation, date changes, or failure to fund may result in additional costs.

Post-trade funding window

After the conversion date, there is generally a two-business-day post-trade funding window. If sufficient funds are not provided within that window, the conversion may become Delinquent and costs may apply.

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