Telpay’s foreign exchange partner, Payline, provides immediate exchange rate quotations for the payments you need to make. With Telpay for Business, payments can be made in the currency of the destination country.
For accounting purposes, immediate conversion takes place at Bank of Canada rates.
When it is time to make the payments, Payline is contacted via the internet and a quotation is provided. Once accepted, the payment will be made via the broker and Telpay will email the payment details to the supplier.
Any adjustments that may be necessary between the Bank of Canada rate and actual rates will be incorporated into the journal entry generated. Sign up for an International Currency Exchange Account with our partner, Payline, or contact them by phone at 1-888-989-4636 Ext.6.
Once you have created your account and signed up to use Telpay's International Payments service, you'll be able to use your Telpay for Business software to make electronic payments in most major international currencies — right from your desktop