# Conversions

## Overview

A **Conversion** allows you to convert funds held in one currency into another using foreign exchange (FX).

## How it works

1. **Choose your currencies** — Pick the currency you want to exchange, how much you want to sell, and the currency you want to receive.
2. **Get your rate** — We'll calculate the live exchange rate, final conversion amount, and any fees. As soon as this is calculated, your conversion details update automatically.
3. **Receive your funds** — Once the conversion finishes processing, the converted money is deposited directly into your balance.


## Settlement times

Conversions are booked for **same-day settlement**. As long as a conversion is created before the cut-off time for the currencies involved — and on a day the relevant FX markets are trading — it settles the same business day. Conversions created after the cut-off, at weekends, or on public holidays settle on the next available business day.

Because a conversion involves two currencies, it settles same day only if created before **both** currencies' cut-off times — so the earlier of the two applies — and both currencies must be trading that day. For example, a conversion between `CAD` (15:20 UTC) and `CZK` (07:00 UTC) must be created before 07:00 UTC, `CZK`'s earlier cut-off.

| Currency | Cut-off time (UTC) |
|  --- | --- |
| CZK | 07:00 |
| HUF | 07:00 |
| RON | 07:00 |
| PLN | 07:30 |
| TRY | 07:30 |
| DKK | 08:30 |
| NOK | 08:30 |
| ZAR | 08:30 |
| SEK | 08:30 |
| CHF | 08:30 |
| AUD | 12:00 |
| EUR | 12:50 |
| GBP | 13:20 |
| USD | 14:50 |
| CAD | 15:20 |


Rather than computing this yourself, refer to the `estimatedSettlementDate` Ryft returns on the [get rate](/documentation/api/reference/openapi#operation/conversionsGetRate) response and on the conversion once priced. See [Settlement times](/documentation/get_started/conversions#settlement-times) in the Conversions guide for how to read it.

## Fees

Ryft charges an FX fee on each conversion. All amounts are gross (before fees). The fee is charged on exactly one side — either deducted from the sell amount before the conversion, so only the remainder is converted, or deducted from the buy amount afterwards, so the net credited to your balance is the buy amount minus that fee. The conversion tells you which: `fees` is present on whichever side carries it. See [Fees and FX margin](/documentation/get_started/conversions#fees-and-fx-margin) for how to read either shape.

For [Sub-Account](/documentation/overview/core_concepts/ryft_entities#sub-accounts) conversions this Ryft fee is charged to you as the Main account, deducted from any platform fee you charge the Sub-Account, and credited to your balance as a `ConversionPlatformFee` transaction. Ryft charges its FX fee on every Sub-Account conversion, even if you have not configured a platform fee. [Contact us](/documentation/overview/support) to configure your platform fee.

## Further reading

- [Conversions guide](/documentation/get_started/conversions) — how to create conversions, handle events, and trigger payouts
- [Conversions Webhooks](/documentation/get_started/webhooks/conversions) — event payload reference