Vertecto Services, LLC

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Vertecto Help - Convert Currencies

Exchanging Currencies In Your Accounts

One of the main benefits you receive as a member of Vertecto is the ability to easily create transactions in more than one currency and the ability to move your funds between currencies. Remember that you and your Transaction Partners can withdrawal money in the currencies of 33 nations!

You can create a Project escrow in any primary currency. Vertecto is the only secure telecom transaction and escrow company that allows you to create transactions and escrows in multiple currencies. You can use always USA dollars as your deal currency, but if the Seller and Buyer are both in the European Union or Hong Kong, creating the escrow in Euro or Hong Kong dollars will simplify the transaction and save currency exchange expenses.

The ability to move your funds between currencies gives you advantages. Vertecto can save you the time and expense of opening bank accounts in multiple nations simply to move money. Vertecto can also let you easily and quickly move funds between currencies to take advantage of currency fluctuations. For example, if you think the value of USD will rise against the value of HKD, you can convert some of your HKD to USD.

Note; By exchanging currency, you acknowledge that you have read and understand the Foreign Exchange Risk Disclosure document available under "Forms & Notices at the top of each page.

To convert funds between currencies, first click "Accounts" on the main (red) navigation bar (1) and then click "Convert Currency" (2) on the secondary (gray) navigation bar. Please see the instructions following this illustration:

Area (3) provides the rates at which currency will be exchanged when you move funds between your currency accounts. These rates are provided by Wells Fargo and are updated at least daily. Compare these wholesale exchange rates to the actual effective cost of converting funds at your bank. These rates do not apply to multi-currency withdrawals, wires and ACH transfers which are exchanged based on the market spot rate. To learn more about withdrawals check here.

Area (4)provides you with your "free" balance in each account. This is the amount you can withdraw, dedicate to a new escrow or convert into another currency. In this illustration, the user has approximately 19971 available in euros. The user will convert 10000 to USA dollars.

Enter the amount you wish to convert in (5).

From the dropdown menu (6), choose the currency you want to convert FROM.

From the dropdown menu (7), choose the currency you want to convert TO.

Click (8) the "Convert Currency" button. Your funds will be exchanged from the FROM currency to the TO currency at the Daily Forex Rate in effect, subject to the terms of the TPS Agreement.