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How to Set Up Your Auction Currency

TL;DR

You can set your auction currency in your Event Settings to match your organization’s location and payout account. This ensures bidders see the correct currency during bidding and checkout.

Author: Tom Kelly 2 min reads

Why Setting the Correct Currency Matters

Choosing the right currency ensures:

  • Bidders see accurate pricing during bidding
  • Your organization receives payouts in the correct currency
  • There’s no confusion at checkout
  • Compliance with local payment processing requirements

The currency you set is tied to your payment processor and payout country.

Step 1: Log In to Your Auction Dashboard

  1. Log in to your auction admin dashboard.
  2. Select the auction event you want to configure.
  3. Click Event Settings in the menu.

Step 2: Find the Currency Settings

  • Scroll to the Payment or Event Details section.
  • Look for Currency or Currency Type.
  • The default currency is based on your organization’s payout country.

Step 3: Select the Desired Currency

  • Choose your preferred currency from the dropdown menu.
  • Common options include:
    • USD – U.S. Dollar
    • CAD – Canadian Dollar
    • GBP – British Pound
    • EUR – Euro
    • AUD – Australian Dollar
  • The available currencies may vary depending on your payment processor.

Step 4: Save and Confirm Changes

  • Click Save Settings to apply your new currency.
  • Refresh your auction page to confirm that the currency symbol and amounts are displaying correctly.

Step 5: Test Bidding and Checkout

  • Place a test bid or register as a test bidder to verify the currency displays properly.
  • Ensure the correct currency symbol appears in invoices, receipts, and bidding history.

Step 6: Important Notes About Currency Settings

  • Once bidders begin placing bids, changing the currency may not be possible.
  • Your payout account must support the selected currency.
  • All item pricing, invoices, and reports will reflect the currency you set.

Pro Tips for Currency Setup

  • Set the currency before launching your auction to avoid issues.
  • Match your auction currency to your payout account country.
  • Let bidders know the currency in event communications to avoid confusion.
  • If hosting international auctions, choose the currency that aligns with your primary donor base.

Frequently Asked Questions

When should I set the auction currency?

Set the currency before launching your auction to ensure all item pricing and transactions display correctly.

Can I change the currency after the auction starts?

In most cases, no. Once bids are placed, the currency setting is locked to prevent accounting issues.

Which currencies are supported?

Common currencies include USD, CAD, GBP, EUR, and AUD. Availability depends on your payment processor and payout country.

Can I host an auction in a different currency than my location?

Yes, but your payout account must support that currency. Otherwise, conversion or setup may be required.

How does currency affect invoices and reports?

All invoices, receipts, and reporting will display in the selected currency, ensuring consistency for donors and administrators.

Does currency selection impact processing fees?

Yes. Processing fees may vary by currency and country, so choose the one aligned with your primary donor base.

Can bidders from other countries participate?

Yes. International bidders can participate, but all bids and payments will be processed in your selected currency.

Will the currency symbol show on the auction page?

Yes. The selected currency symbol appears on all item listings, bidding screens, and invoices.

Can I offer multiple currencies in one auction?

No. Each auction can only support one currency at a time to ensure payment and reporting accuracy.

Does currency setup affect payouts?

Yes. Your payouts will be issued in the same currency you select, so make sure it matches your payout account.

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Tom Kelly

Tom Kelly

Tom Kelly, TEDx speaker and CEO of CharityAuctions.com, helps nonprofits raise millions through auctions and AI. He hosts The Million Dollar Nonprofit podcast and inspires leaders to live their legacy, not just leave it.

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