- Impact
- 53
9 Jan exchange rates.
We sell via Escrow.com but get hit for the USD->GBP currency conversion cost. 2.7% (1.30 USD -> GBP). Costs us $20 for the payout bank transfer.
PayPal also give us 1.30 USD ->GBP (today 9 Jan), but at least they don't force us to convert it every time.
Today's spot rate is actually 1.27 USD ->GBP
Example Escrow.com transaction fees.
2500 USD
If Escrow Concierge:
If buyer pays by wire transfer or check $162.50
If buyer pays by credit card or PayPal $238.75
WITHOUT Concierge:
If buyer pays by wire transfer or check $81.25
If buyer pays by credit card or PayPal $157.50
Quick sum, assuming buyer pays PayPal, no concierge, and bank payout.
PayPal: $157
My bank: 2.7% of (2343 USD): $63
Net in USD is
$2280
Escrow.com has cost me 9% fees.
Afternic I believe charges me 20%.
I'd like to get these fees lower!
We sell via Escrow.com but get hit for the USD->GBP currency conversion cost. 2.7% (1.30 USD -> GBP). Costs us $20 for the payout bank transfer.
PayPal also give us 1.30 USD ->GBP (today 9 Jan), but at least they don't force us to convert it every time.
Today's spot rate is actually 1.27 USD ->GBP
Example Escrow.com transaction fees.
2500 USD
If Escrow Concierge:
If buyer pays by wire transfer or check $162.50
If buyer pays by credit card or PayPal $238.75
WITHOUT Concierge:
If buyer pays by wire transfer or check $81.25
If buyer pays by credit card or PayPal $157.50
Quick sum, assuming buyer pays PayPal, no concierge, and bank payout.
PayPal: $157
My bank: 2.7% of (2343 USD): $63
Net in USD is
Escrow.com has cost me 9% fees.
Afternic I believe charges me 20%.
I'd like to get these fees lower!