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multi currency invoicing

DavebmDavebm Member Posts: 1

I have a service that I bill Canadians in CAD and Americans in USD but when I send an autobill for a US customer in USD it says what the exchange rate will be but it says the customer can't setup autopay with their credit card because my core currency is CAD ... why won't it just convert and deposit like other services I've used before?

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    BarsinBarsin Member, Moderator Posts: 2,041 ✭✭✭

    Hey @Davebm

    Wave's ability to pay an international currency invoice is a little bit limited. Let me explain with an example below:

    If I have a CAD Wave account but I want to invoice my clients in the US for $100 CAD, most people assume you can change the currency of the invoice to $75 USD (hypothetical exchange rate) and bill them for $100 CAD. However when you change the currency of the invoice, the "pay invoice with credit card" feature disappears for your client. What you will need to do is send the invoice in CAD for $100 (or whatever the rate is you're looking to collect for your services) then your client will be able to make a regular payment using their USD credit card. Their bank will likely charge them a small conversion fee for paying a foreign invoice, this charge is from the bank's end and is not included in the 2.9% transaction fee.

    I hope this helps with your invoices moving forward

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