Skip to main content

What happens if I don’t have enough balance in one currency (e.g., CAD) to make a payment? Will Venn automatically use other currency balances (e.g., USD, GBP or EUR)?

Written by Taylor Morgan

How Venn handles low or negative balances depends on the type of payment:

  • Sending funds (any currency): You must have enough balance in the currency you’re sending. If not, you’ll need to convert funds manually beforehand.

  • Currency conversion (between Venn accounts): You must have enough funds in the source currency to complete the conversion.
    ​

  • Venn Mastercard purchases:

    • Venn first checks your balance in the charge currency, then checks your other balances in this order: CAD → USD → EUR → GBP, skipping the currency already checked. For charges in other currencies, Venn converts the amount and checks balances in that same order. One currency account must cover the full purchase, balances can’t be combined. If no single account has enough funds, the transaction will be declined.

    • The order is as follows:

      • If the charge is in CAD:

        CAD → USD → EUR → GBP

      • If the charge is in USD:

        USD → CAD → EUR → GBP

      • If the charge is in EUR:

        EUR → CAD → USD → GBP

      • If the charge is in GBP:

        GBP → CAD → USD → EUR

      • If the charge is in any other currency:
        CAD → USD → EUR → GBP

  • Pre-authorized debits (CAD):

    If your CAD balance is insufficient, Venn will automatically convert funds from your other currency balances in the following order:

    1. USD

    2. GBP

    3. EUR

      If enough funds are available in one of these, the payment will proceed. Otherwise, the payment will be declined.


    Note: There’s no additional fee for automatic conversions, and you’ll still benefit from Venn’s competitive exchange rates. However, for most cases, it’s a good idea to monitor and top up your balance in advance to ensure payments go through smoothly.

Did this answer your question?