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If folks who picked that option can post the rate Google used for their currency (e.g. Canadian dollars, Euros, Yen, Pounds, etc.), then the rest of us who are still on the fence can determine whether to keep payouts in US funds, or switch to local currency (i.e. it all depends on whether Google is giving a better exchange rate compared to our banks).
joined:Sept 20, 2004
US Dollar to UK Sterling, that's OK
Plus, consider the large total Google pays out every month, it's not bad to make some extra money out of currency exchange.
joined:Sept 20, 2004
I doubt Google will pay a better rate than your local bank.
You're obviously not from the UK!
Not only do we have to accept the rate offered by the bank they also charge us for the priviledge of it and can make us wait anywhere from 1-3 weeks before crediting our accounts.
My bank, Barclays, even have the cheek to charge me for being in credit with a US Dollar account.
The rate given by Google into UK Sterling is not that far off money mid-market rates plus it will be in Sterling when it arrives therefore it should be cleared immediately.
You're right. I am from Canada. Here the bank charges a monthly fee for your account, and doesn't hold my USD check, given the amount is less than certain limit.
I think I didn't make my point clear enough. What I trying to say is Google probably pay the same rate as banks, PayPal, etc. If you have a large check come in every month, then it will worth the time and trouble to get USD check , then negotiate a rate with your bank.
Of course, it involves opening a US-funds account, storing up funds until the rates are good, then using transfers or cheques to take US out and deposit Canadian back (to a different account of course).
If it got converted on that day where the exchange rate dipped, then 1.231 is great (within 0.5% of mid-market).
I'm going to keep things in US dollars again next month, and see how we do. If someone at Google wants to share the true spreads for the top currencies, that would be ideal.
Wow, it was about 31 : 1 when I was there in '95.
It almost touched 50:1 last year. Decrease in rupee value aginst dollar is a big problem for people like me and outsourcing companies. We want even more rupees for dollar.
At least the chicken tikka is still good :)
Which city you have been to in India? Next time if you come to Hyderabad in India, do not miss Hyderabadi Chicken Biriyani...It is really good :).
joined:Apr 24, 2005
I have only recently been able to get more than 1.2 CAD for a US dollar. My bank in the US limits my ATM transactions to USD $300, so the amount I get to withdraw here goes up and down, always in increments of CAD $20. For quite a long time, I could only take out $340. Just recently I have been able to take out $360.
Next week I'm expecting to open a business account here in Canada, which will be a hell of a lot more convenient, and allow me to write myself a proper paycheck. But I had intended only to have a Canadian dollar account. Would I do well to also have a US dollar account too, to be able to choose when to convert?