Currency conversion¶
CO2IN wallets are held in EUR. Anything you send or receive in Czech crowns is converted, using the Czech National Bank rate plus or minus a fixed margin.
Why is my money converted?¶
Because your wallet is in euros. You can top up and withdraw in Czech crowns as a convenience, but the balance itself is only ever euros, so crowns are converted on the way in and on the way out.
Which exchange rate is used?¶
The Czech National Bank reference rate, taken at the moment CO2IN processes your transaction, adjusted by a margin of 0.1 CZK:
| Rate applied | |
|---|---|
| Top up | CNB rate plus 0.1 CZK |
| Withdrawal | CNB rate minus 0.1 CZK |
So a top-up converts slightly less favourably than the reference rate, and a withdrawal slightly less favourably in the other direction. The margin is the same size both ways.
The rate actually applied to your transaction is shown in the app before you confirm, and again on the transaction afterwards. The margin is set out in the Tariff.
Which day's rate applies?¶
The rate in force at the moment CO2IN processes your transaction, not when you sent it.
The Czech National Bank publishes a new reference rate around 14:30 each business day. So a transaction processed in the morning uses the previous business day's rate, and one processed after the new rate is published uses the new one.
Where can I check the rate I was given?¶
In the app. Every Czech crown transaction shows the rate that was applied, after the margin, in your transaction list.
If the figure looks wrong, contact support@co2in.com — the rate used is a matter of record and can be checked.
Can I send other currencies?¶
You can, but you should not.
CO2IN accepts EUR and CZK. Anything else is converted by the bank before CO2IN ever sees it, at a rate CO2IN neither sets nor controls — and it is usually a poor one. The payment may also simply be refused.
If a payment does arrive converted, CO2IN treats it as a top-up in whichever currency was credited. If that currency is Czech crowns, the normal conversion above then applies on top.