Automate exchange rate updates

You can use the exchange rate provider integration to automatically update your exchange rates in Mews Operations, preventing discrepancies and saving you the work of manually changing them.

To automatically update your exchange rates in Mews Operations:

1. Go to the main menu > Marketplace. In the Legal environment section, under Exchange rate provider integration, click Explore and then click Connect integration.
2. In the Name field, enter the name of the Source that this integration draws exchange rates from. 

• If you accept multiple currencies and there are multiple providers supporting them, you can create multiple exchange rate provider integrations and choose a different Source for each.

3. In the Source field, choose the bank that you want to pull exchange rate updates from.
4. In the Relative adjustment field, add a percentage to adjust exchange rates by.
5. In the Period field, choose how often you want exchange rates to be automatically updated. The default time for exchange rates to be updated is 00:00.
6. In the Update offset field, you can add an adjustment to the Period you choose. For example, if you enter “2 hours”, the update happen two hours after the Period you choose.
7. Choose which Options you want to apply to the integration:

• Select Send update emails if you want to receive a daily summary of exchange rate changes. Even if you don't select this option, you receive an email if any exchange rates fail to automatically update.
• Select Update all rates if you want to update exchange rates for all of your rates, including those that are disabled.

8. In Notification email, enter the email address you want the integration to send exchange rate update emails to. Note: Only if you select "Send update emails" in the Options section.
9. Click Create. On successful creation of the integration, Mews redirects you to the My subscriptions tab.
10. In your list of active integrations, locate your exchange rate provider integration and click Edit to go to the settings page. Select the Enabled checkbox and click Save. 

Note: When future reservations are paid for in advance, exchange rate discrepancies occur. When this happens, Mews automatically posts exchange rate corrections to the affected bill and notifies you of the correction on the customer billing screen.

So when trying to process a payment, the exchange rate might be different because of periodic updating of exchange rates. To resolve, you can manually type in the amount to match that with the billing screen, and that should balance the bill.