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

 

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Learn more:

GTFM: Foreign Payments

Article: How do I look up the Exchange Rate?

Article: Outgoing Wire Transfers

 

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Last Updated:  May 31, 2022