If you are a non-US resident and deposit cash into your Public brokerage account in a currency other than US dollars (USD), your funds will be converted into USD. Conversely, if you want to withdraw USD from your Public brokerage account, your USD will be converted back into your local currency.
Airwallex provides currency conversion services to Public members living outside the US. For both deposits and withdrawals, Airwallex converts your local currency to or from (as applicable) USD at a rate that is provided to you at the time of your transaction, this will usually be close to the live interbank rate. Additionally Public and Airwallex may charge a foreign exchange transaction fee between 0-2% per transaction, that enables us to cover the costs of offering foreign exchange services to you to invest in US stocks.
There are other fees that apply to US and non-US customers alike. See the fee schedule for details.
If you ever have questions, the team is always here for you, so feel free to give us a shout on the app's Chat or via email at email@example.com.