# Understanding your currency conversion fees

### How does currency conversion on Stripe work?
Stripe supports processing charges in [135+ currencies](https://docs.stripe.com/currencies). This allows you to present in your customer’s native currency. Payments presented in your customers’ native currency automatically convert to your default settlement currency. Stripe handles doing this currency conversion, for which we charge you a currency conversion fee, detailed on [our pricing page](https://stripe.com/pricing). Currencies are generally converted at the mid-market rate, sourced from third-party service providers. Mid-market rate is the average between the buy and the sell price of a currency.
### How does Stripe charge me the currency conversion fee?
There are two different ways in which Stripe might charge you the currency conversion fee:
**Fee-adjusted exchange rate (the old behavior)**. Originally the currency conversion fee was charged by adjusting the mid-market exchange rate such that the settlement amount would be lowered by the amount of the currency conversion fee.
Payment is settled at the exchange rate adjusted for fee
**Separate currency conversion fee**. More recently we have started doing the currency conversion at the original mid-market exchange rate and then charge a standalone currency conversion fee.
Payment is settled at the market exchange rate and the currency conversion fee is net off from it
### Do the fees I pay differ?
No. No matter how we charge you, whether by adjusting the exchange rate or by charging a separate currency conversion fee, you pay the same currency conversion fee.
### What is the difference between the two currency conversion fees?
Moving to separate currency conversion fees makes Stripe’s fees more transparent and easier to understand. Specifically it changes how and where you see the currency conversion fees:
* [**Payment details page**](https://dashboard.stripe.com/payments): With the separate currency conversion fee, it is easier to tell exactly how much you paid in currency conversion fee. Where applicable we will show it in your payment details page as its own line item.
* [**Payout details page**](https://dashboard.stripe.com/payouts): With the separate currency conversion fee, a currency conversion fee applied to a payout is included in the Fee section of the [Payout details page](https://dashboard.stripe.com/payouts). Currency conversion fees by adjusted exchange rate aren't included.
* [**Transfer**](https://dashboard.stripe.com/connect/transfers): With the separate currency conversion fee, a currency conversion fee applied to a transfer is shown in the [Payment details page for the transfer payment](https://dashboard.stripe.com/connect/transfers) to the connected account. Currency conversion fees by adjusted exchange rate aren't shown.
* [**Collected application fee**](https://dashboard.stripe.com/connect/application_fees): With the separate currency conversion fee, a currency conversion fee applied to a collected application fee is shown in the [Application fee detail page](https://dashboard.stripe.com/connect/application_fees). Currency conversion fees by adjusted exchange rate aren't shown.
* [**BalanceTransaction API**](https://docs.stripe.com/api/balance_transactions/object#balance_transaction_object-fee_details): With the separate currency conversion fee, a currency conversion fee applied to a transaction is included in the `fee_details` of the `BalanceTransaction` object.
* [**Balance summary report**](https://docs.stripe.com/reports/balance): Separate currency conversion fees are included in your balances report. Currency conversion fees by adjusted exchange rate aren't included.
* [**Fees report**](https://docs.stripe.com/reports/all-fees): Separate currency conversion fees are included in your Stripe all fees report. Currency conversion fees by adjusted exchange rate aren't included.
* Tax invoice: Tax report includes currency conversion fees in the underlying transaction processing fees. It doesn't include currency conversion fees by adjusted exchange rate.
If you are a Connect user, your Connected Account will see separate currency conversions in the above places when they are the payer of Stripe currency conversion fees.
### Why did Stripe make this change?
To improve our fee transparency. With the currency conversion fee included in the exchange rate, it was hard for our users to tell what exactly was charged. With separate currency conversion fees, users can now tell the exact exchange rate that was used—that is to say, generally the mid-market rate—and how much of a currency conversion fee Stripe charged for the transaction.
### Why are some transactions different from others?
Previous transactions where currency conversion fees were included in the exchange rate are always displayed the way they have been historically. The change to separate the conversion fees is on a go-forward basis only. This also means that for any transaction prior to the change, their currency conversion fees aren't shown in the [Balance summary report](https://docs.stripe.com/reports/balance) or the [Fees report](https://docs.stripe.com/reports/all-fees).
### How can I tell which approach was used?
The exchange rate and currency information in the Dashboard tells you if there was currency conversion involved for a transaction.
* If you don't see any fee details for the currency conversion, the transaction has a fee-adjusted exchange rate.
* If you see fee details for the currency conversion, the separate currency conversion fee was used.
### I want separate currency conversion fees. What can I do?
We have started to roll out separate currency conversion fees to select users. We appreciate your understanding that we are prioritizing the roll-out according to a number of factors and are not able to roll out this behavior to individual users upon request. We expect to complete the roll-out to all users by the end of 2025.
### Tax on Currency Conversion fee
We charge the applicable tax on Currency Conversion fees in the same way we charge applicable tax on other Stripe fees. You can treat tax on Currency Conversion fees like you treat tax on all other Stripe fees.