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)?

Michael Tan avatar
Written by Michael Tan
Updated over 2 weeks ago

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:

    • For CAD purchases, there must be enough in your CAD account. If not, the transaction will be declined.

    • For USD, GBP, or EUR purchases, Venn will first try to use the matching currency balance. If that’s not enough, it will automatically convert from your CAD balance to complete the payment (at no extra cost, with competitive FX rates).

  • 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?