posted on October 10, 2002 04:48:20 PM new
It looks like the Euro and Sterling feature can be added at no cost to the seller whatsoever. Is this correct?
If so, who wouldn't do it (unless you never sell to Europe)?
posted on October 10, 2002 05:48:04 PM new
The only additional costs would be if/when you convert the foregin currecies to US Dollars. Than you would pay a normal conveersion fee.
posted on October 11, 2002 12:00:24 AM new
From talking with other sellers in the UK the conversion rate really bites. If I remember the post correctly you loose an additional 2.4% converting from sterling and 2.7% from euros costing you about 5% overall for the transaction.
The posters were not happy with that amount since they normally get .5 to 1% loss rate from the bank.
They are sticking with USD accounts and have an account here in the US for transfering money. They save a bunch that way.
Jim
Again I am quoting a conversation from another board from my ol memory.
posted on October 11, 2002 06:35:35 AM new
The story I read, the sender doing the conversion, said the fess were actually cheaper that 2 different retail options.
I suspect most account will wind up in the native currency of the seller, and no conversion fees will be involved. If a UK seller is paid in Pounds, they would NEVER pay a conversion fee. I may accept a small amount of Payments in Pounds and Euros, just to have a small balance for any purchase I make.
If the coversion fee difference is that great, I suspect you will see more and more private conversions. In other words if I have a 100 Pounds I don't need and you need them, I can sell them to you or anyone else for Dollars at what ever rate we agree on.
posted on October 11, 2002 06:47:25 AM new
I am very confused over this. I have a US Paypal account. If I choose the option to have foreign currency converted to US dollars, and only keep a US currency Paypal account, will this mean more or less
money received when someone pays in pounds or euros? Example, if I sell an item for $10.00 US, but will accept payment in foreign currency, how would it work if I have the money converted? What amount of money would I receive? Can someone explain this please? Thanks in advance!
posted on October 11, 2002 08:18:34 AM newExample, if I sell an item for $10.00 US, but will accept payment in foreign currency, how would it work if I have the money converted?
The applicable conversion rate for different currencies is deiplayed when you do the conversion. This rate changes daily.
] items that no one is going to be able to find anyway!!!!