By default, Tremendous rewards are ordered in USD. Rewards sent to recipients outside of the United States will be converted into local currency with zero conversion fees.
It's not necessary to specify a different currency if recipients are located outside of the US. However, you may want to specify another currency if:
- You marketed the reward for a specific amount
- You want to send a gift card that has specific currency requirements
Automatic currency conversion
If you don't specify currency when you place your order, Tremendous will send the reward in USD and automatically convert it to the currency of the selected payout using the Fixer API.
For example, imagine that you're sending a $25 reward. The recipient is located in Canada and chooses an Amazon.ca gift card. They will receive the equivalent CAD value based on the USD-CAD exchange rate at the time of redemption.
Tremendous Visa cards are denominated in USD. When the recipient makes a transaction, the amount is automatically converted to the local currency using the current exchange rate. There are no currency conversion fees for transactions made with Tremendous Visa cards.
Sending rewards in other currencies
When sending rewards, you can specify a different currency from your prefund balance currency. This is not necessary when sending rewards in other currencies, but may be useful if:
- You marketed the reward in a specific currency
- You want to guarantee the value of the reward in a specific currency, regardless of the exchange rate at the time of redemption
- The region you're sending to is affected by denomination restrictions
To send a reward in another currency:
- Click Send rewards on the left-hand side of the dashboard, then choose Add recipients.
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In the Currency column, use the dropdown to select a currency or enter the three-digit currency code. You can place a single order for rewards in multiple currencies. If you don’t select a currency, the amount will default to your team’s prefund balance currency.
You can also add three-digit currency codes to the Currency Code CSV column when uploading recipient information in bulk.
- On the order summary page, your order total will be calculated in your team’s currency using the exchange rate at the time of ordering.
When you order a reward in a non-USD currency using the Currency field, you guarantee the value of the reward in that currency, even if the exchange rate fluctuates between when you place your order and when the recipient redeems their reward. For example, if you order a R$25 reward for a Brazilian recipient and pay in EUR, the recipient will always receive R$25 BRL, even if the BRL-EUR exchange rate changes.
FAQ
By default, can I send rewards in a currency that doesn’t match my team’s prefund balance currency?
This is not currently possible. All reward amounts default to your team’s prefund balance currency unless specified otherwise. However, customizable default reward currencies are coming soon.