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How does currency conversion work in connection with an international transfer?
How does currency conversion work in connection with an international transfer?
Viggo avatar
Written by Viggo
Updated over a week ago

The European Central Bank, ECB, and by extension the Danish National Bank, decided as of 01.07.2016, that it would no longer be permissible to use the central banks' information rates as the basis for settling currency-based transactions.

Therefore, from this date, Lunar uses information rates from a recognized provider as the basis for calculating the bank's daily purchase and sale rates. Payments ordered before 1:00 pm will be settled at the currency rate of the day the payment is executed, where conversion is required.

Settlement will be made according to the supplier's information rate plus a surcharge, which varies for individual currencies and is provided upon request or can be found in our price list.

Settlement of later ordered payments requiring conversion can be done at the prevailing market rate.

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