Card Payments

When it comes to a card payment, there are 3 currencies that play a role.

• The end user's card currency - This is the native currency of the end user's card.
• The payment (or charge) currency - This is the currency in which the payment being taken from the end user is denominated in (also called the "presentment currency").
• The settlement currency - This is the currency that payments get settled in.

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Card Payments Supported Currencies

• End user's card currency - Any
• Payment (or charge) currency - USD
• Settlement currency - USD/USDC

Because the Circle Payments API always settles in USDC, the settlement currency is always USD. That way, fiat funds being settled can be seamlessly tokenized 1:1 into USDC.

For similar reasons, Circle chooses to define the payment currency as USD for all payments that settle in USDC. That way, when you specify a payment amount on an API call, you do so in USD knowing that you will eventually receive that amount in USDC settlement (minus processing fees).

As a consequence of the above, your end users will see charges on their card statements denominated in USD. Most cards around the world are capable of supporting USD denominated charges.

Foreign Transaction Fees

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Foreign transaction fees - Note 1

Card payments initiated via Circle Payments API are denominated in USD. When the end user's card currency is not USD, their card issuer might decide to charge them foreign transaction fees.

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Foreign transaction fees - Note 2

Circle supports card transactions initiated via Circle's Payments API based on the merchant’s entity. When the merchant's entity country is not the same as the end user's card issuing country, the card issuer may invoke their right to charge the end user a cross-border or foreign transaction fee in accordance with their cardholder disclosure agreement. These charges are industry standard and vary depending on the relationship the cardholder has with their card issuer.

Wire Transfer Payments & Payouts

When it comes to a wire transfer, there are 3 currencies that play a role.

• The end user's bank account currency - This is the native currency of the end user's bank account.
• The transfer currency - This is the currency in which the wire transfer is denominated in on the end user's side.
• The settlement currency - This is the currency that in coming wire transfers get settled in.

Because the Circle Payments API always settles in USDC, the settlement currency is always USD. That way, fiat funds being settled can be seamlessly tokenized 1:1 into USDC. In other words, Circle only accepts USD denominated funds arriving via wire transfer.

The end user will typically denominate the wire transfer in USD on their side. If the wire transfer is denominated in another currency, corresponding or receiving banks might charge a fee for converting the transfer into USD along the way.

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Wire Payments Supported Currencies

• End user's bank account currency - Any
• Transfer currency - Any
• Settlement currency - USD/USDC

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Currency Conversion Fees

When the end user's bank account currency is not USD, their bank might charge them fees when they initiate a USD-denominated wire transfer.

The Circle Payments API will always initiate a wire payout denominated in USD - this ensures the USDC amount used for payout is matched 1:1 with the outgoing wire transfer (minus processing fees). When the end user's bank account currency is not USD, their bank might charge them currency conversion fees.

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Wire Payouts Supported Currencies

• End user's bank account currency - Any
• Transfer currency - USD
• Settlement currency - USD/USDC

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Currency Conversion Fees

When the end user's bank account currency is not USD, their bank might charge them currency conversion fees when receiving a wire transfer.

ACH Payments & Payouts

Circle Payments API only supports ACH transfers from / to bank accounts domiciled in the United States.

The only supported currency for ACH payments and payouts is USD.

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ACH Payments & Payouts Supported Currencies

• End user's bank account currency - USD
• Settlement currency - USD/USDC