How to convert and send money with Verto
Verto allows you to simultaneously convert money to another currency and make a payment to an account outside Verto.
Step 1
Log in to the Verto platform.
Step 2
Click the Exchange button on the left hand sidebar, as shown in the screenshot.
Step 3
Click Send money under the Exchange now heading.
Step 4
Choose the currency you want to convert from, and the currency you want to convert to.
Then, either enter the amount you want the recipient to get, in the currency you're converting to, or enter the amount of the currency you're converting from that you want to send. The Verto rate will be applied and the alternate amount will be automatically calculated.
If you have multiple wallets in the same currency, but don't have enough in your default wallet to pay for the conversion, more wallets will be automatically selected to pay for the conversion. You can also choose which wallets to use to pay for the conversion.
The first wallet in the list will be debited, and the remaining will be debited from other wallets in list order (order of wallet creation).
If you're happy with the conversion rate and the amount the recipient will get, click "Continue".
Note: if you don't have enough funds in your wallets to pay for this conversion and payment, you will be shown three options:
Continue with Exchange Deal: use Exchange Deal to book a conversion rate and amount and then transfer the amount to Verto afterwards, ensuring you don't lose the current conversion rate while the money is on its way to Verto.
Continue to send money: continue to convert the entire balance in your wallet.
Top-up your wallet: send more money to Verto, so that you have enough to pay for this conversion. Once the funds arrive with Verto, you will be notified via email, and you can book the conversion.
Step 5
Choose the account which you would like to send the money to. The "My recipients" section is designed for bank accounts held by organisations or individuals which are not your company's or your company's owners' bank accounts.
The "My accounts" section is designed for accounts held by your company or your company's owners.
If the recipient which you want to send to isn't already in the list, click "Add recipient", using which you can add a new bank account to send money to. Find more information on adding a recipient here.
Step 6
Once you've chosen the recipient which you want to send the money to, review the conversion rate and amount the recipient will get.
Then, choose the correct purpose of payment, add a reference which will appear on the recipient's bank statement once received if desired, and upload any supporting documents e.g. an invoice or contractual agreement between you and the recipient, if you have them to hand.
Once you're happy with your payment, click "Send to bank account". The conversion will be made and the money will be paid to your recipient.
Step 7
That's it! The money is on its way to the recipient. For assistance with a payment you've made, open a case on our Chat with Frank support system, or email support@vertofx.com.
If you have additional questions please reach out to us via live chat, Chat with Frank or at support@vertofx.com