Surcharge on global policy Exchange Rate

CicilieCicilie Expensify Customer Posts: 1
edited July 2020 in Ideas

Many of our employees travel abroad and hence we have a lot of travel expenses in foreign currencies. Expensify exchange rate is always lower than the one charged on credit cards and on cash payments. Why can we only add an exchange rate surcharge on the individual policy and not on the global?

As credit cards adds min. 2% on the daily average exchange rate, I should add this as a default surcharge on exchange rate on our Global Policies. I know one can to it on the individual policy, but as we are export to Netsuite, our employees can only submit our global defined policies.

2 votes

Not Developing · Last Updated

We have deprecated the surcharge as is because a surcharge is an arbitrary amount, never matching the exact incurred expense.


  • Michelle NiemiMichelle Niemi Expensify Team Posts: 93 Expensify Team

    @Cicilie That is a great idea! Please make sure to upvote your idea by clicking on the arrow under the votes.

  • lcarconelcarcone Expensify Customer Posts: 4 Expensify Newcomer

    I voted for that request because we also need this feature before to transition to Expensify.

     Having an individual surcharge rather than a global surcharge is more work and can lead to errors.

    In addition we would like this global surcharge to apply on the converted amount, not on the initial amount


  • Matt MooreMatt Moore Expensify Customer, Expensify Success Coach - Admin, Expensify Team Posts: 109 Expensify Team

    Hey @lcarcone,

    Thanks for voting! While this seems like an obvious change that we'd be foolish not to make, I'd like to give extra clarity here.

    We currently use a combination of an individual user's Default Policy and that policy's Default Currency to "qualify" a transaction for the foreign currency surcharge.

    As Default Policy selection is down to individual users at present, and you'll hopefully see where I'm going with this, determining to apply the surcharge for potentially hundreds of users could lead to a big number of cases where the surcharge was applied incorrectly, or not at all, (through understandable user error). On the other hand, keeping this as a user-level setting ensures that the feature is applied correctly, or at least the individual understands why it didn't work in the way they wanted (i.e. the wrong policy was selected.)

    That's not to say it's impossible to implement. I can imagine ways that we could, say, use the Restrict Primary Policy Selection option in Domains to minimize the risk of this happening, or qualify transactions on a different basis.

    It'd be great to hear more use-cases here, including yours, so we can drill down a bit more.


  • lcarconelcarcone Expensify Customer Posts: 4 Expensify Newcomer


    We would like to use Expensify to manage travel reimbursements.

    Our base currency is the euro and for other currencies, we apply the exchange rate of the day of the expense +3%. This is automatic and applies to all team members.

    This is why we would like this surcharge to be defined in the Group Policy and not individually.

    We would also like it to be added to the exchange rate rather than to the initial amount of the expense, this is an information that we want to keep.


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