# Foreign Exchange Fees Explained

impact.com lets brands and partners agree on contract terms in either one of their own [currencies](https://help.impact.com/other/readme/supported-currencies-and-timezones). But if payments are sent or received in a different currency than what’s in the contract terms, there are extra fees called exchange rate fees. Depending on the situation, either brands or partners will need to pay these fees.

{% tabs %}
{% tab title="Example 1" %}

* Brand account currency: **USD**
* Partner withdrawal currency: **EUR**
* Contract currency: **USD**

**Who pays the exchange rate fee?** In this case, the **partner** takes on the fee and earns a little less commission. If the cart currency matches the partner’s currency, then the commission is based on a percentage of the sale.
{% endtab %}

{% tab title="Example 2" %}

* Brand account currency: **USD**
* Partner withdrawal currency: **EUR**
* Contract currency: **EUR**

**Who pays the exchange rate fee?** In this case, the **brand** takes on the exchange rate fee and has to fund a little more.
{% endtab %}
{% endtabs %}

As a brand, the only way to avoid these fees is to have different accounts for each region's currency. Then, you can make agreements with partners who use the same currency in that region.

#### Check your contract currency

{% tabs %}
{% tab title="For brands" %}

1. From the left navigation menu, select ![](https://3964917321-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FhRN1rcrim887TwHLBjac%2Fuploads%2Fgit-blob-230534471fef5f40808e921e41ee44e4a06ded03%2Fe6cb9548999afdc1ed3ce4942e4cb5b45b5cecbd323267aac2a7cd1915fccc09.svg?alt=media) **\[Engage] → Contracts** → [Contracts](https://app.impact.com/secure/advertiser/engage/contracts/library/view-contracts-flow.ihtml).
2. On the far right of the contract you’d like to verify, select ![](https://3964917321-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FhRN1rcrim887TwHLBjac%2Fuploads%2Fgit-blob-c746d936c908b9090325464502f7c10acda0e993%2F2a92939e8e78dd7e0c0416b1a250d5ef1d7ab0dec966fb5ed320ca62acfc06c5.svg?alt=media) **\[More] → View**.
3. Scroll to the *General Terms* section. The currency that was agreed upon appears in the *Currency* field.
   {% endtab %}

{% tab title="For partners" %}

1. From the top navigation bar, select **Discover** → [My Brands](https://app.impact.com/secure/mediapartner/marketplace/new-campaign-marketplace-flow.ihtml).
2. If you're in the grid view, switch to ![](https://3964917321-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FhRN1rcrim887TwHLBjac%2Fuploads%2Fgit-blob-b3ee5769241ce1575e4aff7d716b98c9937267eb%2F845c18aa59443d6b239132358fa67d4ae4df3cf4399ec037b8348bfa2e88c1bc.svg?alt=media) **\[List View]**.
3. Hover over the brand you want to review, then select ![](https://3964917321-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FhRN1rcrim887TwHLBjac%2Fuploads%2Fgit-blob-c746d936c908b9090325464502f7c10acda0e993%2F2a92939e8e78dd7e0c0416b1a250d5ef1d7ab0dec966fb5ed320ca62acfc06c5.svg?alt=media) **\[More] → View And Manage Contract**.
4. Scroll to the *General Terms* section. The currency that was agreed upon appears in the *Currency* field.
   {% endtab %}
   {% endtabs %}

#### How we calculate foreign exchange fees

If a payout is either sent or received in a currency that is different from your contract, we need to do a foreign currency calculation. These calculations are done on the action date, not the day the payment is sent, and these values don't change.

It's good to know that the rate we use to calculate might be a bit higher than the rate you see on online currency sites like Bloomberg. This is because we can't buy currencies at the exact same low rate. However, our system tries to make things easier for both brands and partners—it clearly shows the exact cost for brands and the expected income for partners when the event happens.