
Making a small change to my Commission Sheet today: All prices are now denominated in EUR instead of USD. That's pretty much the only change! They're close enough in value right now that the numbers are not changing. The main reason for the change is double conversion. My home currency is Euros, so if I bill someone in eg. Britain or Canada in USD, that means the money is converted from GBP/CAD to USD, and then again to EUR. By cutting out the USD step, there aren't two cuts for currency conversion taken out. Similarly billing Euro customers in Euro means there's no currency conversion, and USD customers have no change in the number of times their money gets converted. This is also in effect a 3% price increase, which really isn't that much (though for US customers it may be up to 8% when Paypal takes their cut - but they were taking that piece out of me anyway). I could talk about supply & demand but like, it's an extra tenner on a $300 commission. It's marginal. What this really does for me is save me asking everyone where they're from and offering them a manually converted price in Euros to avoid double conversion.
Anyway, if you're reading this and going "wait, your commissions are open?" They're always open by application! Submit a form and I'll get back to you when I get to you: https://forms.gle/HKRoEaDMwqJYxUrK7
Anyway, if you're reading this and going "wait, your commissions are open?" They're always open by application! Submit a form and I'll get back to you when I get to you: https://forms.gle/HKRoEaDMwqJYxUrK7
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Yeah, currency conversions are a scam when you're using paypal. They just... change the conversion rate to basically be a fee, then advertise "no fee".
I did some math with an artist at some point and a friend sending me money ( currency conversion ) + me using that money and my own to send to an artist (currency conversion) + currency conversion for the artist receiving (billed in USD, their country currency is different) and usual paypal fee, it came out to... 18% fee for paypal to handle some digital currency.
So avoiding an added step? Good for everyone involved (except paypal).
I did some math with an artist at some point and a friend sending me money ( currency conversion ) + me using that money and my own to send to an artist (currency conversion) + currency conversion for the artist receiving (billed in USD, their country currency is different) and usual paypal fee, it came out to... 18% fee for paypal to handle some digital currency.
So avoiding an added step? Good for everyone involved (except paypal).
TO be fair there isn't any place where this is not the case. Conversion is not really accurate you are BUYING currency and like anything you buy the seller needs to make a profit. Paypal is actually pretty close to many banks considering how popular they are. Ever use a credit card? The fee the seller pays on credit cards I think is 20% its even more crazy than paypal.
i'm guessing the % you call there is for using a credit card for credit - loaning money can cost a lot, yeah. Over here in EU, my bank has a debit / credit card foreign currency exchange fee of 1.6%. That's a miniscule fee compared to paypal.
Also, there's just the fact they hide the "fee" by manipulating the exchange rates. It's very manipulative and intended to not let people know how much they're being shafted.
Also, there's just the fact they hide the "fee" by manipulating the exchange rates. It's very manipulative and intended to not let people know how much they're being shafted.
I know what you mean. I used to pay to convert my GBP to USD to pay a Canadian, who then had to pay to convert it to CAD.
He changed his currency to CADs. Before he made this change, I did offer a few times to pay in either GBP (no conversion for me, but he'd still have to) or CAD (I convert, he doesn't)
He changed his currency to CADs. Before he made this change, I did offer a few times to pay in either GBP (no conversion for me, but he'd still have to) or CAD (I convert, he doesn't)
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