Step 01
List your incoming and outgoing currencies
Write down the currencies your customers or employers pay in and the currencies you use for expenses. Include whether the account is for yourself or a company.
| Your planning list | Example only |
|---|---|
| Money coming in | Customer invoices in EUR. |
| Money going out | Supplier payments in USD. |
| Balance to keep | A reserve in the currency of future expenses. |
This example describes a planning exercise. It does not confirm currency availability or account details for your profile.
Step 02
Confirm three separate capabilities
Ask about holding, receiving and paying for each currency. A balance in one currency does not by itself confirm local receiving details or a route to every destination.
- Confirm whether your profile can hold the currency.
- Confirm the receiving route and account details available for incoming payments.
- Confirm which outgoing destinations and routes are supported.
Step 03
Check receiving details before sharing them
Use account details issued for your own setup. Match the currency and receiving route to the payment the sender intends to make.
- Check the account holder or beneficiary name.
- Check the account number or IBAN and any routing information supplied.
- Give the sender any required payment reference or additional instructions.
- Confirm who is permitted to send funds and whether supporting information is needed.
Do not copy receiving details from a website demo or another customer’s account. If a sender proposes a different currency or route, confirm it before the payment is sent.
Step 04
Review conversion before exchanging
Holding several currencies and exchanging between them are separate actions. Before an exchange, check the source balance and the amount you want to convert.
- Choose the source currency and intended amount.
- Confirm the destination currency.
- Review the actual rate, charges, destination amount and quote validity.
- Proceed only after reviewing the confirmed terms.
The website currency calculator is a reference tool. The rate shown there does not fix the price of your exchange.
Step 05
Reconcile your balances and payments
After receiving, converting or paying, compare the transaction information with your own invoice or payment record.
- Keep the transaction reference, date, currency and amount.
- Distinguish a currency conversion from an outgoing payment.
- For a business, retain the records needed to match customer receipts and supplier payments.
- If something differs, contact OWN with the reference and a short description.
Confirm charges and limits for your own setup before using a service. Do not send login credentials or identity documents in a general enquiry.