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Be a business in Sweden. Charge customers in USD. Paypal charges a fee for the payment. Then they charge a fee for the currency conversion from the customers’ l
by erikrothoff 5y ago
Be a business in Sweden. Charge customers in USD. Paypal charges a fee for the payment. Then they charge a fee for the currency conversion from the customers’ local currency conversion. Then they use the worst conversion rate for withdrawing money from your account to local bank account (like 5% worse than actual rates). You could get around this by withdrawing the USD to a USD account via Transferwise. They changed (fixed) this by charging a 3% withdrawal fee from USD to USD. So just moving 10000 usd of OUR money to OUR bank account costs 300 USD. That’s AFTER the Paypal transaction fee AND after the conversion fee from customer’s local currency to USD. Thank god for competition, at least we can start moving new customers to Stripe. But dear lord, please stop them