What should you do when you see a “Currency is expiring” message?
You may see the below message if you are trying to select a currency in FIS that is either not accepted by UofT’s bank or banking partner (i.e. Western Union):
If you see this message, departments have the followings options:
- Contact the vendor to ask if they will accept payment in another currency (i.e. EUR in lieu of DKK)
- Request an Outgoing Wire Transfer.
For purchases under 10k, a document entry from the department is not required. For more information, please click here.
For purchases over 10k, create a PO in equivalent Canadian dollars and follow the Outgoing Foreign Payments Wire Transfer or Draft payment method when entering the invoice.
Apart from CAD and USD (cheque payments), below is a list of foreign currencies that are currently available:
|AUD – Australian Dollar||No||Yes|
|DKK – Danish Krone||No||Yes|
|EUR – Euro||Yes||Yes|
|GBP – Great Britain Pound||Yes||Yes|
|HKD – Hong Kong Dollar||Yes||Yes|
|JPY – Japanese Yen||Yes||Yes|
|NOK – Norwegian Krone||No||Yes|
|NZD – New Zealand Dollar||No||Yes|
|SEK – Swedish Krona||No||Yes|
|SGD – Singapore Dollar||Yes||Yes|
|ZAR – South African Rand||No||Yes|
|INR – Indian Rupee||No||Yes|
|AED – United Arab Emirates Dirham||No||Yes|
GTFM: Foreign Payments
Article: How do I look up the Exchange Rate?
Article: Outgoing Wire Transfers