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2. Stripe's currency conversion rates are also terrible. And you're forced into converting the currency rather than being able to deposit it in the currency my
by plantain 8y ago
2. Stripe's currency conversion rates are also terrible. And you're forced into converting the currency rather than being able to deposit it in the currency my users pay in...
- kyrra 8y agoThere are lots of legal reasons for this. To be able to settle in a currency, you must have an acquirer that can accomplish that (ie, they have a bank account there). And then next, the Stripe and you will likely need to setup a local entity to have a bank account that can take the money. This then exposes them to more regulation from that country. A processor just doing cross currency and settling in a few countries is much easier to do.
- plantain 8y agoStripe can certainly take USD - and my local (Australian) bank certainly accepts USD, as I have a USD bank account with them. But I'd cut them more slack if they didn't sting me for currency conversion as well.