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UK Specific: Payment method for online purchases in USD

by Enfys
1 replies
Hi,

The title says it all. My current bank charges 2.99% on top of every foreign currency transaction and has got not the best exchange rate to begin with. As a lot of transactions in internet marketing are in USD, it cuts off quite a significant sum. Surely, there are better payment options. Thanks to everybody who will share experience.
#method #online #payment #purchases #specific #usd
  • Profile picture of the author seasoned
    Originally Posted by Enfys View Post

    Hi,

    The title says it all. My current bank charges 2.99% on top of every foreign currency transaction and has got not the best exchange rate to begin with. As a lot of transactions in internet marketing are in USD, it cuts off quite a significant sum. Surely, there are better payment options. Thanks to everybody who will share experience.
    Get a different merchant account, or figure the exchange rate differently. There is NO law governing your exchange rate, if you provide an option. You can even have a disclaimer. Bottom line? If one doesn't like your exchange rate, they can choose another option, or go elsewhere.

    Banks almost HAVE to charge a high exchange rate, because they do NOT know what they will get. They can vary though, because THEY have to play the same game I just suggested YOU play.

    Steve
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