Let’s make currency conversion “sada” 💸
You may have noticed that once your client pays you, you can hold your earnings in USD now instead of getting the money directly in PKR.
Though your SadaBiz account is not a USD account, we’ve introduced an option that allows our users to keep their earnings in USD, providing the flexibility to withdraw them to PKR when needed. This capability allows you to manage your finances more flexibly, holding funds in USD until you’re ready to withdraw them to PKR when you like.
How do you decide the rate at which my USD gets converted?
Great question! We simply pass on the rate that our partner bank provides us with on the day you withdraw your USD earnings. This rate is set by the relevant bank’s treasury department and is calculated on the day depending on various factors. By the way, don’t get this confused with the market exchange rate, as they’re not the same.
So basically, your money will get converted at our partner bank’s rate on the day you withdraw your earnings.
How long does withdrawal from USD to PKR take?
Normally, withdrawing from USD to PKR takes within 1-2 hours. Sometimes, a security check or review may take up to 2 business day. Regardless of the time it takes for the withdrawal to get processed, the rate applied would be on the day you initiated the withdrawal request. This applicable rate is also displayed to you before the conversion takes place, ensuring transparency and clarity
How can I withdraw my USD earnings?
Go to "Withdrawals"
Click on "New withdrawal"
Add the amount that you would like to withdraw.
Currently, there’s no defined limit of holding money in USD. However, it’s important to keep an eye on your wallet limits while withdrawing these earnings. As a Sadabiz user, you have the flexibility to withdraw your USD earnings directly into your Personal or SadaBiz wallet. This increases the monthly incoming limit to PKR 900K (500K for Biz & 400K for Personal). 🚀
Confirm the details and click on "Withdraw" button
Your USD earnings are usually converted to PKR within 1-2 hours. However, in very rare instances, the process may take up to 2 business days. 🙌🏽
We hope this helps! Feel free to reach out to us on in-app chat if you have any additional questions. 😄