Fiat-to-Fiat Conversions
Convert one fiat currency into another and send funds to international recipients using Conduit’s conversion transactions. Type:conversion
Conversions handle cross-currency fiat payments (e.g., USD → EUR). Same-currency payments (e.g., USD → USD) use transfers.
When to use
- Cross-border payments — send to international suppliers and partners
- Currency conversion — exchange one fiat currency for another
- Examples: EUR → BRL, USD → MXN, GBP → COP
How fiat conversions work
- Create transaction with type:
conversion - Receive deposit instructions — banking details to send funds to Conduit
- Send funds — wire money to Conduit in the source currency
- Currency exchange — Conduit converts at locked rate
- Send to recipient — converted funds are sent to destination account
- Completed — recipient receives funds in target currency
Common fields
Key characteristics:- Deposit instructions — banking details to send funds to Conduit
- Bank account IDs — format:
bank_...for both source and destination - Quote required — locks in exchange rate and fees
- Compliance requirements — may require supporting documentation
- Settlement time — typically 1–3 business days (varies by corridor)
Key terms
| Term | Definition |
|---|---|
| Conversion | Exchanging different currencies (type: conversion) |
| Deposit instructions | Banking details provided for sending funds to Conduit |
| Source currency | The fiat currency you’re sending from |
| Target currency | The fiat currency recipient receives |
| Quote | Locked-in exchange rate/fees with expiration time |
| Bank account ID | Bank account identifier (e.g., bank_...) |
| Rail | Payment method (SWIFT, SEPA, PIX, etc.) |
Understanding true sender and true recipient
Why this matters
Compliance requires visibility into the actual parties involved in each transaction, not just intermediaries. Misidentification can result in:- Payment delays or rejections
- Compliance review failures
- Risk of limited access or account offboarding
True sender definition
The true sender is the business that provides the funds for a transaction. If you’re acting on behalf of a customer:- The customer is the true sender — not your business, even if funds move through your accounts
- Example: Acme Corp pays a vendor via your platform → Acme Corp is the true sender
- Your company is the true sender
- Example: You pay a vendor directly → Your company is the true sender
True recipient definition
The true recipient is the person or business that ultimately receives and benefits from the funds. If you’re paying on behalf of a customer:- The final beneficiary is the true recipient — not your business
- Example: Acme Corp pays a contractor via your platform → The contractor is the true recipient
- The vendor or account receiving funds is the true recipient
- Example: You pay your supplier → The supplier is the true recipient
These may not always appear as explicit API fields but remain critical for compliance.