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If I may take advantage of the numerous highly knowledgeable people in the industry here — has anyone recommendations for accepting payments from the UAE? We u
by flibble 9y ago
If I may take advantage of the numerous highly knowledgeable people in the industry here — has anyone recommendations for accepting payments from the UAE?
We use Stripe to receive card payments there in AED and then need to pay this money out again in AED. As Stripe don’t settle in AED the funds get converted to USD and then we have to convert them to AED again to pay out.
Stripe charge 2% conversion fee over market rates to convert the funds. What’s most annoying is AED is pegged to USD and there’s no conversion risk, yet Stripe charge the conversion fee anyway. So we pay 2.9% or 3.4% (can’t remember which it is off the top of my head) international card fee, 2% Fx to USD and another few % back to AED :-€