Forum Moderators: buckworks
We now have a German distribution center, and have our widget.co.uk page, widget.nl, etc.
We're currently using mals-e in the USA to accept USA only orders.
I want to be able to have websites in each of these countries, charge in their OWN currency, and have it be billed in their own currency, so they see a "euro" company.
The trouble is, our bank is a very small town local bank, which we love, and our credit card processor only handles dollars.
For these .co.uk and .nl pages, should I open a European bank account and merchant account to route those sales through? That makes sense as the best option, don't you think?
Any other ideas?
I just really hate to have a Euro price on those local pages, then have it come out of their account in dollars, "approximately" what we told them in Euros that it would cost.
Same for pounds in UK.
Any advice would be really great, thanks! :)
You need to use the sell rates when selling or the client will be overcharged and unhappy.
The RBC Foreign Exchange Cheque Rate Converter is a good one to use when trying to charge an exact amount in a foreign currency. It clearly spells out the buy and sell rates.
Price will be 333.56 Euros, period, etc.
Charge his credit card in Euros, and whatever we end up with on our end in dollars is what happens.
Make sense?
absolute sense,
you should be able to get a merchant/gateway that handles multiple currencies that way the customer is billed in the currecy they chose (if you give them a choice - eg in europe they don't get a choice they are just billed in euros etc)
as for prices i'm with you, those people that convert currencies and quote the converted rate are missing the point, numbers are very important as you obviously know, eg 99 euros is a much better price than 101!
we charge fixed prices in different currencies, the prices never change whatever the fluctuation of the currency markets, sometimes we do better other times less so at conversion but it all balances out, the dollar/pound/euro are actually relatively stable with each other anyway.
absolute sense,you should be able to get a merchant/gateway that handles multiple currencies that way the customer is billed in the currecy they chose (if you give them a choice - eg in europe they don't get a choice they are just billed in euros etc)
as for prices i'm with you, those people that convert currencies and quote the converted rate are missing the point, numbers are very important as you obviously know, eg 99 euros is a much better price than 101!
we charge fixed prices in different currencies, the prices never change whatever the fluctuation of the currency markets, sometimes we do better other times less so at conversion but it all balances out, the dollar/pound/euro are actually relatively stable with each other anyway.
Anyone that's currently doing this? Want to share how you're doing it? Which merchant/gateway you use in Europe while being based in the US?
I need to get this done quickly, and the only thing holding me up is finding a suitable bank/merchant etc. over there that is willing to deal with a US company.
Charge his credit card in Euros, and whatever we end up with on our end in dollars is what happens.
You will need to have a euro bank account to deposit your charged euros into. Then you convert it to USD when transfering cash to your main operating account.
Chase Paymentech will do multi-currency transactions but they might want a $5K security deposit (depending on how risky your industry is).
I'm from the UK and set up a website aimed at Ireland. I got Worldpay to set up Euros on my account, so the customer is billed in Euros and when I set up the Irish website, I made the prices approxiamtely the same, just rounding up to the nearest .99. I do offer free P+P when ordered through the Irish website. They have to pay for delivery on the .co.uk, so I never have any complaints of prices 'being higher'.
Incidentally, if you are aiming a webiste at the UK, I would avoid using Euros, and go for Punds instead. Most of us brits are quite proud of our currency and (although it would make my life easier from a business stand point), I dislike the currency and would loathe the day it was ever introduced.
Anyone else have any ideas/options?
Still waiting to hear back from paymentech.
Ya, long wait... Just call them on the 1-800 line.
Anyone has experience in open the bank account in foreign countries like in Europe.
There should be no need to go to hassle of setting up with a European bank unless you are over there. Your bank in the US should be able to set up foreign currency accounts and/or a card processor like paymentech can tell you which banks they work with.
Ya, long wait... Just call them on the 1-800 line.
Now why didn't I think of that? :)
I've talked to them multiple times, should have rates today, so hopefully they're reasonable and we'll be up and rolling.
Thanks to those who were trying to help!
[edited by: minnapple at 10:46 pm (utc) on July 24, 2006]
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[1][edit reason] Please no promotional url or email drops [/edit] [/edit][/1]
