General Category > General Discussion

Not happy with currency conversion when getting JFK

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BrzI:
The cost is explained on product page
From product page:

Product Cost

The product cost is 22.90 EUR, plus your local VAT rate if you live in the EU. You can choose to be billed in USD or your national currency, during the buying procedure. In this case, prices might change depending on the current Euro value. Billing in USD is always available for everyone.
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Yes,,,but I was charged nothing for tax. It said 0$ for tax. But how it converted 22.90 euros to 40.04 Canadian dollars is not clear to me.. Sorry..this does not make sense. :-X

virtuali:
The price of the product is 22.90 EUR, if you pay in EUR. Of course, if you choose to be billed in EUR, but your Credit Card is based on a Bank Account not based on EUR, YOUR Credit Card company/Bank, will apply an exchange fee.

Instead, if you choose to be billed in another currency, the conversion rate will be decided by Esellerate, for the currencies that we don't explicitely set a price, otherwise they'll apply a price we set. CAD$ is the case: we haven't set a price for the product in CAD$, the rate is automatically applied by Esellerate.

So, whatever currency you choose, either your Bank or Esellerate will apply a surcharge for the exchange rate. It's up to you to decide if you think the surcharge applied by your CC company/Bank is more or less convenient that the one applied by Esellerate. We certainly don't know, that's why during the order, you can go back and change the preferred billed currency.

The ONLY way to pay the product *exactly* 22.90 EUR, is to have a Credit Card based on an EUR Bank Account, and choose to be billed in EUR. This way, no conversion fees will be applied. But of course, European users will have to pay VAT on top of that...

BrzI:

--- Quote from: virtuali on September 20, 2008, 12:41:50 pm ---The ONLY way to pay the product *exactly* 22.90 EUR, is to have a Credit Card based on an EUR Bank Account, and choose to be billed in EUR. This way, no conversion fees will be applied. But of course, European users will have to pay VAT on top of that...

--- End quote ---

I know the difference between conversion rate charges and scamming :-) Been on this planet for over 50 years now :-)

No, I am not senile :-)

If I were you, I would question Esselerate's business practices. You look like you will be having a lot of unhappy Canadian customers.

virtuali:

--- Quote from: BrzI on September 20, 2008, 09:36:01 pm ---If I were you, I would question Esselerate's business practices. You look like you will be having a lot of unhappy Canadian customers.
--- End quote ---

Let me explain better, because you don't have all the informations at hand to express a correct opinion.

We can set different prices, depending on currencies, in order to be able to cover market differences and exchange rates. Right now, we have a price set in EUR, which is 22.90, and a price set in US$, which is 35.50.

The US$ price as an higher exchange rate than the official rate for several reasons, starting from the fact that we risk the US$ might go down while we are waiting our payments, to the fact that European users have to pay additional VAT, which ranges from 17% up to 25%, so we try to keep the price as low as possible for those that have to pay VAT. So, that's why the US$ price is based on an exchange rate higher than the official.

I would like to point out that, when we released JFK, we LOWERED Zurich and O'Hare prices, because those were still based on the 1.6 exchange rate that was in effect when we price them. This resulted, for example, in O'Hare being 1$ less that it used to be. Interesting to note, nobody seems to have noticed it...

However, now that I've explained the reasoning between the US$ price, which is 35.50, let's enter the CAD$ issue:

Since we haven't set a price in CAD$, Esellerate automatically applies their own exchange rate, which might not be favorable as well, and (since Esellerate it's in the US), the conversion into CAD$ is made starting from the US$ price, there's no relationship anymore with the original 22.90 EUR.

So, if you combine the fact that we have a slightly higher price in US$, to cover us from currencies oscillations and VAT in Europe, and the fact that, because there's no CAD$ price explicitely set Esellerate applies their own ratio, you reach that price in CAD$, which doesn't look very good.

But, as I've said, since the screen allows to check the Grand Total BEFORE sending the order, and allows to go back and change the currency, why not simply choose to be billed in EUR, so it would be 22.90 and any additional fees would be handled by YOUR bank ?

Anyway, we can take the suggestion, and set a price in CAD$ so, at least, Canadian users will not be overcharged by two currency conversions in a row...

kyle joseph:
the quality of the product here is well worth the price


I cannot wait for Ft. Worth

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