Currency Conversions on Bright Funds

When donating or requesting a match on Bright Funds, we do our best to make sure your donation reaches the nonprofit without any trouble.

Local currencies and exchange rates are constantly being monitored at Bright Funds. 

Why is my donation converted to USD?

Your donation is converted to USD if the original submission is in non-USD. This is because companies who use Bright Funds are invoiced in USD, and pay for matching and other company-funded donations in USD currency.

When is my donation converted?

There are two points in the donation and disbursement process when your donation is converted:

• When your donation is submitted on Bright Funds
  • Outside donations submitted for matching are converted from the local currency to USD via the Fixer API
  • Direct donations via PayPal or Credit Card are converted from the local currency to USD via PayPal or Stripe
• When your donation is set to go out to your nonprofit
  • Converted from USD to the nonprofit's preferred currency via our disbursement partner, BILL.com

What exchange rate is used?

• When donations are converted to USD, the exchange rate is a mid-market exchange rate provided by either Stripe/PayPal (custom rate) or Fixer.io (a mid-market rate). A mid-market exchange rate is the midpoint between the buy and sell rates for a currency.
• When donations are converted from USD to the nonprofit’s preferred currency, the exchange rate is provided by our disbursement partner, BILL.com. This is a custom rate and will be different from the mid-market rate.

Below, you can find a helpful flow chart of the currency conversions, and where they occur between when the donation was made, and when it is sent.