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Modern UK banks like Monzo tell you to pay in the currency of the store and let them do the conversion for you (at the interbank rate).. The only way really is
by neximo64 6y ago
Modern UK banks like Monzo tell you to pay in the currency of the store and let them do the conversion for you (at the interbank rate).. The only way really is to charge more for shipping.
- Hamuko 6y agoHow many consumers use a solution like that? Because if it's only a tiny percentage of all people, you could just raise the GBP prices with a comfortable margin and have those subsidize the rest.
- xiphias2 6y agoCool, that's another great way to pass on costs to consumers. The end result is the same: it's not that hard to do it.
- neximo64 6y agoI'm a bit unclear on how. So you have your ecommerce store charging in EUR, and you pay with your Monzo/Starling/Revolut whatever and get the interbank rate to GBP. How is the store going to pass costs onto consumers in a way other than shipping costs? You can't use currency because the bank has given you the interbank rate (and cut off the card's conversion fee). Also btw if you let your card processor convert currency for you they're going to be even worse off as an EU store owner - Stripe charges 2% extra to convert your currency for example. So your fees are now going to be over 3.5%.. best to leave it in EUR. You need to run an ecommerce store to understand its very hard to ask a customer their country first. Unless you're Apple.. Also when you run an ecommerce store you want US customers too, so your UK problem is equivalent to your US problem.
- xiphias2 6y ago,,You need to run an ecommerce store to understand its very hard to ask a customer their country first.'' Geo filter? I'm not sure what commerce store you are running, but that's usually the first thing that's happening. Anyways you can set shipping costs however you want for each country. These are all trivial things.