1. Currency amounts are transmitted as integers with the resolution of the smallest available unit (e.g., cents) per currency, e.g., $10.50 is represented as 1050. If an amount is transmitted with a decimal the transaction will be rejected.
2. An ISO 4217 currency code must be specified as a separate parameter any time a currency amount is transmitted.
3. Error code 021 is returned if a currency is attempted against a BIN for which that BIN was not assigned that currency.
4. If a currency code is specified that is different from the Settlement Currency Code, a conversion is done. The API will find the real-time currency exchange rate and use that exchange rate to convert the amount from the Currency Code to the Settlement Currency Code.
5. There are two system parameters that affect Currency Conversion:
a. The first parameter configures the preference of whether to use the real-time bid, ask, or rate quote as the conversion multiplier. You must specify this configuration parameter on setup with your representative.
b. The second parameter configures the Settlement Currency Code override. If this parameter is configured, any Settlement Currency Code sent by the API will not be used in deference to the override parameter. Therefore, the Currency Code will be converted to the system parameter Settlement Currency Code and not the Settlement Currency Code in the incoming message.