Internal Transfers & FX: How It Works in Lorum

Internal transfers and currency exchanges are movements of funds between accounts within your organisation in Lorum. Unlike payments, which move funds between Lorum accounts and external beneficiaries through the relevant payment infrastructure, these operations are fully contained within your organisation.

• Internal transfers - move funds between two accounts of the same currency within your organisation. Internal transfers are processed instantly, do not involve external payment infrastructure, and are free of charge.

  Internal transfers create two transaction records:

  • The outbound transaction moves through the Created → Settled lifecycle.
  • The inbound transaction is created directly in the Settled status once the funds are credited to the destination account.

• Currency exchanges (FX) - convert funds between accounts in different currencies within your organisation. The exchange is executed using the exchange rate confirmed at the time the currency exchange is created.

  FX exchanges create two transaction records:

  • The outbound transaction moves through the Created → Executed lifecycle.
  • The inbound transaction is created in the Settled status once the converted funds are credited to the destination account.

Both internal transfers and FX exchanges appear in the Transactions tab alongside payments. If you are integrated with Lorum via API and consume webhooks, your integration can also receive webhook events for these activities.