Currency Conversions

When donating or requesting a match on Bright Funds, we do our best to make sure donations you are set to receive are verified.

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

Why is a donation converted to USD?

A 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 the donation converted?

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

• When the 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 the donation is set to go out to your nonprofit
  • Converted from USD to the your 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 to you.

Make sure your nonprofit is registered

If your nonprofit is listed in any of the charity databases here, please be sure to register for your nonprofit's account to verify your details. You can register your account here.