If your funds were mistakenly converted to GBP before being sent in USD, it was likely due to an incorrect assumption made by the sender’s bank or its intermediary banks. This has happened once or twice because our banking partner has a UK-based address but operates internationally.
To avoid this issue in the future, follow these steps:
Provide Clear Instructions – Instruct the sender’s bank not to convert USD and to send the payment in USD only.
Use ACH instead of Wire Transfers (SWIFT) – ACH transfers are typically faster and more cost-effective, instruct the sender to send ACH instead.
Move Funds to Venn First – With Venn, payments are only processed according to your exact instructions, eliminating unnecessary conversions.