Currency Conversion Fees
Whenever money crosses currencies, someone charges a margin for the conversion. When you sell internationally, these fees can quietly erode your margins if you do not account for them.
This article explains where conversion fees arise and how to keep them visible.
Where Fees Appear
Conversion can happen at several points: when the customer pays in their currency, when the provider settles to you, and when your bank receives a foreign payout. Each step can add a margin.
Keeping Costs Down
- Settle in the currencies you spend in where possible.
- Compare provider conversion margins, not just card fees.
- Consider local accounts for your biggest markets.
Make It Visible
The danger with conversion fees is that they hide inside an exchange rate rather than appearing as a line item. We help you surface the true cost so pricing decisions are based on real numbers.
If you need a hand with any of this, your Progressive Robot delivery team is ready to help. Raise a ticket from the Support area of your client portal or speak to your account manager and we will guide you through the next steps.