When Lean makes an international payment, we tell the bank:
- Which account to make the payment from
- The amount and currency to make the payment in
- Which account to send the money to
An international payment can be made from any account (except from a credit card account) within a bank.
Suppose someone has a current account in AED, a current account in USD, and a savings account in AED. If we want to make the payment to an account in Bahrain, for example, which is a BHD account within the bank, we will ask the bank to make the payment in any of the currencies Lean supports to Bahrain (USD, BHD, AED).
Suppose someone has a current account in AED, a current account in USD, and a savings account in AED. If we want to make the payment to an account in Bahrain, for example, which is a BHD account within the bank, we will ask the bank to make the payment in any of the currencies Lean supports to Bahrain (USD, BHD, AED).
We can make this payment from any account in the source bank, in any of the currencies we can support. This is because we tell the bank to make a payment in a specific currency and each account can make an international payment in any currency, not only the currency of the source account.
Example:
We ask the bank to make a payment of 100 USD from the AED account to the BHD account in Bahrain - the bank will make the 100 USD payment from that AED account to the BHD account. Since neither the source account or the destination account is in USD, there will be conversions:
In the source bank, since the account was in AED, the 100 USD will be converted to AED and will be taken out from the source account in AED. In the destination bank, since the account is in BHD, and you can only hold one currency in each account, the 100 USD will be converted to BHD.
In summary, you tell Lean which currency to make the payment in during the Create Payment Intent request done on the backend. It must be one of the currencies Lean supports. When your end-user tells us which account they want to make the payment from, regardless of the currency of that account, we will tell the bank to make the payment in the currency that was asked during that create payment intent call.
Therefore whether the account is in AED, BHD, USD, OMR, SAR, INR, CAD, etc, we will ask the bank to make the payment in the currency you asked us to make the payment in. And similarly when the money is “settled” in the destination account, it will be received in the currency of the destination account.