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What is the 0.6% + 2%? Is that the currency conversion fee? Any way you can get the US sales to be processed in USD and transferred to some kind of US bank acco
by jeromegv 6y ago
What is the 0.6% + 2%? Is that the currency conversion fee?
Any way you can get the US sales to be processed in USD and transferred to some kind of US bank account (Transferwise for example). That way you can re-use that to pay invoices in USD, or transfer it back in CAD at a better rate than what the processor is charging you.
I sometimes get paid in USD through paypal and that's how I reduce the amount I have to pay paypal for conversion fee.
- fbelzile 6y ago> What is the 0.6% + 2%? Is that the currency conversion fee? Yes, international card fee and conversion fee: https://stripe.com/en-ca/pricing#pricing-details https://stripe.com/en-ca/pricing#pricing-details Changing currencies would be a pain, not impossible though. Although, it doesn't solve my sales tax issues and the fact that it just pushes the currency conversion fee problem down the line.
- happymellon 6y agoI believe Revolut has opened shop over that side of the pond, they don't do currency conversion fees, and the rate is the VISA standard rate which is probably as good as you will get. As a consumer in the UK who has been using them a while, I would recommend them completely. When Monzo reach you, they are also brilliant. I use both because the one drawback is their lack of multiple accounts.
- raphaelj 6y agoYou can create a TransferWise multi-currency account. That will provides you bank accounts for USD, EUR, GBP AU$ and NZ$, thus avoiding conversion fees.