Currency conversion fee's

[JamesCWilson]

While I cannot speak for payment services that I have never used before, most places have a service charge for whenever a currency conversion is used. How badly do these fees get to you, and do you charge clients extra to make up for it?

 

[rumsfo]

I have never thought about that as 2CO convert that for the users. In any way that is interesting notice and I'm going to check that.
I assume that is the issue which can distract

 

[chinahost]

Most exchange rate in the bank already takes into account the service charge.

If you are selling in one currency and the customer request to pay in another then they should cover the charges.

 

[SenseiSteve]

I can only say that we currently sell in US dollars. That may change if it ever becomes an issue. It hasn't yet though.

 

[HostLeet]

We use PayPal to process payments, so when someone pays with pounds, euros or any other currency supported by PayPal, it converts it to US dollars without charging an extra fee.

 

[LaneHost]

We use USD and haven't come across any problems as well as it's automatically already converted into USD.

 

[Host Pro]

Its not really a problem with Paypal, cant comment on other systems though.

 

[lovely09]

Everytime i withdraw my earnings through an atm machine,it always had a fee.Around $4 i guess.What i just do is minimizing the withdrawal times,aside weekly it can be monthly.

 

[AbbieRose]

Well I was dealing with double fees because I was being charged by my bank already to withdraw in the UK from an account based in the USA. Then Paypal added new fees and it meant I was paying for everything, twice.

I opened a UK Paypal account and I now just pay their international fees. As I am being paid in the USA, it costs me something like 3.4% (+30c) of anything I am paid, but then it is free to transfer to my bank. This is instead of paying 2.9%(+30c) and then 3% of what is left.

The fees are a pain I admit, but at least with having the two accounts now I have a lot more flexibility. And with Paypal I don't have to worry what currency I am paid in-it just arrives in my account as the right currency.

 

[shockym]

All fees for us are in USD as well but I think our bank handles the credit card transaction fees (if any, would be minimal) and Paypal is good with the conversations too. I guess this does not effect everyone the same though.

 

[redrunner]

Well I was dealing with double fees because I was being charged by my bank already to withdraw in the UK from an account based in the USA. Then Paypal added new fees and it meant I was paying for everything, twice.

That has to be aggravating! You work hard enough for your money. You shouldn't have to pay everyone fees to get your hands on it!