# Balances, transfers, and conversions

> How merchant balances work across accounts, and the Transfer and Conversion entries you'll see in Transaction History.

Your organization can have multiple **accounts**, each holding a separate balance per **asset** (e.g. `USDT`, `USDC`, `BTC`).

Two admin-panel actions move funds between assets or accounts without a on-chain deposit or withdrawal:

## Transfers

An admin can move balance from one of your accounts to another (**Accounts → Overview → Transfer**, admin-only). Transfers are same-asset and use a **preview then commit** flow:

1. Preview the transfer to see the resolved account names and available balance.
2. Commit it to move the funds and get back a `completedAt` timestamp.

Most transfers are **internal** — between two of your own accounts. Transfers can also be marked **external**, moving funds to an account outside your organization.

## Conversions

A conversion exchanges one asset for another at the current rate (e.g. USDC → USDT). Conversions are **admin-panel only**. You'll also see them as a side effect of [auto-converting withdrawals](https://docs.cryptonly.net/guides/withdrawals/auto-converting.md). Stablecoin-to-stablecoin pairs (e.g. USDT ↔ USDC) convert at 1:1.

An organization admin can turn on deposit auto-conversion under **Accounts → Settings → Auto-conversion**. When a deposit is credited, only the net amount (after the network fee and deposit commission) is converted, and that conversion shows up in history like any other. Transfers, and conversions started from the admin panel or to fund a withdrawal, are not converted again. A deposit that is already in the target asset stays as it is.

## Where to see this

Go to **Accounts → History** and filter by type (`transfer` or `conversion`), or open the account balances view for current per-asset balances. See [Testing your integration](https://docs.cryptonly.net/guides/testing-your-integration.md) for more on the History drawer.

## Related pages

- [Deposits](https://docs.cryptonly.net/guides/deposits.md): Deposit auto-conversion credits the net amount
- [Auto-converting withdrawals](https://docs.cryptonly.net/guides/withdrawals/auto-converting.md): Conversions that fund a payout
- [Withdrawals](https://docs.cryptonly.net/guides/withdrawals.md): Payouts from an account balance
- [Testing your integration](https://docs.cryptonly.net/guides/testing-your-integration.md): Transaction History for transfers and conversions