Payments in other currencies
Hot_Glass
Member Posts: 45 ✭✭
Based in Australia.
Some of you may have already worked this out, and would appreciate others experience.
If I invoice a US client, I can leave the amount payable in AUD, or I can present it in USD.
If left in AUD, is this generally ok payment wise ?
Would Stripe just transfer that amount (less their international fee 2.9% + 30c), and that would be the end of charges for me on that ?
Or do they HAVE to also do some sort of currency conversion too ?
From their site . . .
"We’ll automatically convert payments accepted in other currencies. When we perform a currency conversion, funds are usually converted at 2% above the daily mid-market rate for users in Australia."
If I charged in USD I imagine this might be the case, but not sure about AUD invoices.
If charged in AUD, maybe my client would get a fee from their card provider for the conversion, just want to be able to advise my clients if there could be a small fee involved for them if I do leave payments in AUD.
At the moment, using Quickbooks / Commonwealth Bank merchant facilities, I would manually email an invoice to the client, they would provide me credit card details, I process online manually, and get slugged the international fee plus currency conversion, oh, and their rip off minimum monthly fee.