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So, I recently had a client asking me to send a money request in his currency, I think so he wouldn't get charged the fees? Is this proper? Or is it more proper for me to accept his request and do it? I only accept USD, and that is in my TOS. Technically, I would still be getting payment in my currency, but only AFTER I change it back to USD, which would in turn take out a chunk of what the client paid me. So am I in the wrong for not wanting to convert the money to his country's? I'm not certain, and that's why I would like some advice on what I should do.
EDIT 4/9/14: I want to clarify that yes, all of my transactions are done through Paypal. And thank you all very much for the advice! This has helped me out a ton, and I will let the client know that from now on when he goes to commission me, if he does, the currency must be USD only!
EDIT 4/9/14: I want to clarify that yes, all of my transactions are done through Paypal. And thank you all very much for the advice! This has helped me out a ton, and I will let the client know that from now on when he goes to commission me, if he does, the currency must be USD only!
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Date: 2014-04-09 11:02 pm (UTC)Your TOS says USD, they pay USD. End of story.
Edit: And to those saying PayPal has no fees on currency conversion, their rates include a commission of a couple of percent. As an example, at the time of writing 1AUD gets 0.93344USD at raw MasterCard rate or 0.911923USD through PayPal.