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KNOWLEDGE CENTRE

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:

  1. Contact the vendor to ask if they will accept payment in another currency (i.e. EUR in lieu of DKK)
  2. 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:

 Currency Draft Wire Transfer
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

 


Learn more:

GTFM: Foreign Payments

Article: How do I look up the Exchange Rate?

Article: Outgoing Wire Transfers