GoDaddy ripping customers off with foreign exchange = beware!

[newviewit]

Just found this out and thought some of you might not know...

Godaddy is making some serious money overcharging on foreign exchange if you're getting billed in any currency other than $US.

Currently I'm getting billed in Canadian $ and godaddy's foreign exchange rates are horrible compared to what I would get if charged with the actual advertised $US rate.

For example:
.co = $37 Canadian but it shows $25 US

That's a foreign exchange of 1.48 Canadian to one $US which is insane! It should be at 1.29...

End result is for each $10US billed we're being charged $15 Canadian, when it should be $13.

I'm sure this is the same if you're from OZ, UK, NZ, etc.

Contacted my vip account rep and it's a known issue, and there's nothing that can be done.

But if enough of us threaten/or actually cancel our Godaddy accounts this might get fixed... please email your account reps if you are reading this as this is criminal and should be stopped asap.

I'm currently looking into another registrar. From what I can see Namesilo seems to be the cheapest.... What's your thoughts on this?

 

[alcy]

here is what you'd get by converting 37can in your pp to usd
this moment:

27.7$usd

so if you wanna bother
put can$ into your pp first.. then convert to usd, then pay gd using usd form pp
gl

 

[newviewit]

I've got a business Paypal account and currently today getting charged 1.27 (and I get better exchange rates on my credit card that's linked to godaddy).

So $25US = $31.75 Canadian at 1.27 exchange rate

Godaddy is charging $37 Canadian = that's a $5.25 difference..

For every $1000 billed through Godaddy i'm getting charged $1500 Canadian when it should be charged $1270 at current exchange rates. That's $230 in fake foreign exchange costs for every $1000 billed through Godaddy

If you have lots of domains at godaddy it adds up really fast!

This is not a small rounding error.

 

[alcy]

yep.. whether pp or gd or just about ebveryone out there.. they are all sharks.. tryign to suck as mcuh out of you as possible. sadly there is not a signle thing you can do about it. paypal even makes it very clear they charge an overhead of ~2% on every conversion

so.. you can do what I said put cash in your pp first.. convert to usd.. pay gd using that usd then..
this saves you few bucks from my estimates.
gl

 

[alcy]

just make sjure you do math right
cause I think you went the other way around

so if you say gd now charges you 1500can for each 1000usd billed

if you put that 1500can into youri paypal this moment now (I just checked for ya), and then convert this to usd.. yo will get 1125usd

so u save $125usd this way

hope to help
gl

 

[newviewit]

There is nothing wrong with my math.

Current exchange rate today is:
1.00 USD = 1.29280 CAD
http://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=CAD

Think you have a basic Paypal account (get worse exchange rate).

I have a merchant business account and get better rates.

Just logged in and my exchange rate shown in PayPal shows:
PayPal exchange rate $ 1 USD = $1.264505460 CAD

So today $1000US = $1264.50 Canadian.

Godaddy is charging $1000US = $1480 Canadian

That's exactly a $215.50 EXTRA fee godaddy is charging for foreign exchange for every $1000 billed.

 

[alcy]

well you have can$
so I think your doing things the other way around.
I am going from can to usd.
your going form usd to can for some reason.

if you wanna do what I said you will need to put can$ into your paypal (from bank withdrawl).

so therefore to compare your savings you need to go to currency manager.

enter 1500can and see how much that gives you in usd.
that's 1125usd now

this is the only way for you to find out how mcuh you can save on godaddyh for each 1000usd they want to bill you 1500can for.

as far as I'm concerned my math is right on the money here and for the 1000usd=1500can gd wants to bill you, using my pp loadup method you will save exactly 125usd.

anyone else is welcome to confirm your or my math though

 

[newviewit]

no offense but you're missing the math completely.

My goal is to show what $1000 US converts to into Canadian $

You are trying to show what $1500 Canadian converts to which completely throws the numbers off.

Guarantee you 100% my math is correct:

Today $1000US = $1264.50 Canadian as shown inside PayPal.

Godaddy is charging $1000US = $1480 Canadian

That's exactly a $215.50 EXTRA fee godaddy is charging for foreign exchange for every $1000 billed.

 

[alcy]

oh wait I just understood you are not interested in saving this 125usd using pp loadup method I am describing sorry. my misunderstanding.

you are merely showing me and others in your post that godaddy is overcharging and by how much

sorry for misunderstanding. I was so concentrated on showing you how to save some money I didn't realize what you were doing in your post.

anyway, all the best to ya
ciao

 

[alcy]

yes... as I just wrote same time as your reply.. now I understand what you are doing.

Iapologize my bad. and you are absolutely correct. gd is a ripoff on exchange rates. so is pp charging overheads too... and many other companeis too. shame shame.

take care now.

 

[newviewit]

Paypal actually charges a normal fee on exchange rates, it's Godaddy that completely rips people off...

Current exchange rate today is:
1.00 USD = 1.29280 CAD
http://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=CAD
PayPal exchange rate $ 1 USD = $1.264505460 CAD = 3% extra fee

Godaddy exchange rate $ 1 USD = $1.48 CAD = 19% extra fee

19% extra fee just on on foreign exchange rates is higher than most credit cards and payday loan companies. This is absolutely insane and it's not small pocket change if you have hundreds or thousands of domains.

Alcy what you're missing is that the regular godaddy price is in $US. I want to get the regular $US price. I do not want to get charged in $CAD at an exchange rate of 1.48. Godaddy is effectively charging us $1480CAD for something that should only cost $1270CAD. This is only because of the 19% fee on how they convert the foreign exchange.

You will not 'save' any money paying with Paypal if Godaddy is already billing you at an exchange rate of 1.48 when they should be charging 1.27

 

[LucidDomains]

Perhaps @Joe Styler would care to comment?

 

[alcy]

I agree.
big difference.
insane indeed.

and to think countless people on web (somtimes me included) think that even the 3% pp charges is insane.. and thta there is nothing normal about it. hehe

but.. good to know about this. thanks for headsup. better convert can to usd on paypal, instead of paying gd in can$

cheers

 

[RTM]

Great thread - thanks OP and others. While my annual GD spend is 'only' mid-high xxx it still makes a difference!! Had forgotton that the PP merchant had better FX rates than the personal accounts.

 

[Bram C.]

Just found this out and thought some of you might not know...

Godaddy is making some serious money overcharging on foreign exchange if you're getting billed in any currency other than $US.

Currently I'm getting billed in Canadian $ and godaddy's foreign exchange rates are horrible compared to what I would get if charged with the actual advertised $US rate.

For example:
.co = $37 Canadian but it shows $25 US

That's a foreign exchange of 1.48 Canadian to one $US which is insane! It should be at 1.29...

End result is for each $10US billed we're being charged $15 Canadian, when it should be $13.

I'm sure this is the same if you're from OZ, UK, NZ, etc.

I always noticed that Godaddy foreign exchange rates are horrible. So for any Godaddy order that I make I always select USD for my currency at checkout . That way I don't have to pay in my own currency (EUR) and I never end up overpaying on an order (my credit card company will then apply their own currency conversion rates which are far better compared to Godaddy).

Paypal also has horrible currency conversion rates btw. Lots of companies do. I hate bad foreign exchange rates as much as you do but in Godaddy's case you can easily avoid paying them.

 

[baseballworld]

Sounds like someone has some explaining to do here.

 

[Joe Styler]

Sorry for the delayed response. Here is a bit more color around our exchange rates that I am able to share with you.
GoDaddy prices are in-line with market dynamics to best accommodate customer demand, and we allow customers to choose the currency they wish to transact in. In some categories, you will find better value in Canada vs the US. From a foreign exchange standpoint, we try to provide our customers with a consistent experience that doesn’t change from day to day. This consistency means that sometimes the foreign currency pricing is a bargain and sometimes it is less so. We apologize if it is frustrating based on your current day rate comparison. Our customers have told us that it provides the best experience versus dealing with daily fluctuations.

 

[Gerryhereandnow]

Hmm, I have an account with Godaddy...so far they've been all right.

 

[Abdullah Abdullah]

I think the problem.can be Paypal sometimes. Before three days I wanted to pay for BB listings of three names. I used Paypal which I added a credit card I have that is issued by Payoneer.

Paypal charged me extra $5 dollars and for sending $30. I was surprised. I checked transactions and somehow it says my card must go through GBP currency and what I was sending was USD. That was bad , $5 for sensing $30.

Today, I tried to pay for four listings at BB and instead of using Paypal, I used the cc directly.

Guess what? Only $0.40 for $40 was charged on BB's website and I can clearly say it is Paypal that creates these non existent currencies.

 

[promo]

Joe Styler is telling the truth. This river runs both ways

 

[Canadian]

Thank You for pointing this out, I have several $xxxx renewal bills coming up at Godaddy.
I definitely need to start paying better attention !

A couple of days ago I renewed a bunch of domains.
GD exchange rate US$100 = CN$146
However this time I decided to Not exchange it to Canadian Dollars, but paid the bill in US$ with my Master Card at an Exchange Rate US$100 = CN$134

When I pay my GD Bills in US$ with my credit card I SAVE CN$120 for every US$1000

 

[DnEbook]

I did do the change, just to have a look, there was no difference for me

 

[Canadian]

There's lots of money to be saved when you pay attention to the GD exchange rates.

- from the GD home page, when you change the Currency setting in between US & CN dollars.
.com US$ 8.29 = CN$11.49 (exchange rate 1.39)
.ca US$ 8.99 = CN$ 9.99 (exchange rate 1.11)
.co US$ 7.99 = CN$10.99 (exchange rate 1.38)
.shop US$19.99 = CN$25.99 (exchange rate 1.30)


- Then there is the current Domain Sale with 3 low prices.

US$ 4.99 = CN$ 5.99 (exchange rate 1,20)
.club .mobi .online etc.

US$ 7.99 = CN$ 9.99 (exchange rate 1.25)
.org .biz .me etc.

US$ 9.99 = CN$12.99 (exchange rate 1.30)
.net .store .cloud etc.

-
All my GD renewals are at an exchange rate of 1,46 (see my post above ^ )

 

[omnia]

oops

 

[Joe Styler]

It should still be there if you pick the drop down on the top left of the screen for the country/language. If you pick another country it will select their currency.