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Author Topic: Any option to change payment to $US from GB?  (Read 1083 times)

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« on: September 27, 2022, 06:01 »
+2
I know it's been discussed in the past, but recent events mean that, even after PayPal charges, contributors in the UK are currently losing about 14 per 100 based upon the Adobe conversion rate of .75.

Could we at least have a choice as to which currency we are paid in, so that we can control extraction of funds based upon exchange rates? 



« Reply #1 on: September 27, 2022, 06:05 »
0
I know it's been discussed in the past, but recent events mean that, even after PayPal charges, contributors in the UK are currently losing about 14 per 100 based upon the Adobe conversion rate of .75.

Could we at least have a choice as to which currency we are paid in, so that we can control extraction of funds based upon exchange rates?

I am in the UK and paid by AS in dollars, so I'm making more now. I am not sure what you mean, are some people paid in GBP?

« Reply #2 on: September 27, 2022, 06:59 »
0
Im in uk and been with Adobe for 4 years and always paid in 's as per the dashboard currency, ive never heard or seen any monies in dollars......

« Reply #3 on: September 27, 2022, 07:25 »
0
I remember now trying to get them to switch me to Euros back when they were Fotolia, didn't realise they also did GBP but it makes sense. Their answer was I'd have to start over with a new account.

« Reply #4 on: September 27, 2022, 08:23 »
0
It's a shame, as the rate doesn't work in favour of UK contributors these days. My StockPerofrmer stats show me the value in $US each month, and it's annoying to see the exchange rate not being adjusted. Somewhere, it was stated that the rate was .75, (although I can't find it at the moment, so maybe that's a carry over from the Fotolia days), which ties in with the $ figure on StockPerformer. The current rate is .93, and even PayPal is letting me extract at over .89.

EDIT

I found the details:

Payout occurs in one of the following currencies / $ / / PLN / 円 / SEK  for accounts created prior to February 18, 2020. Regardless of your country of residence, the royalty is calculated based on the US purchase price of the file. Adobe uses credits to calculate the royalties with 1 credit = 1 USD = 1 Euro = 0.75 GPB = 7.10 SEK = 4 PLN = 150 Yen. 

https://helpx.adobe.com/uk/stock/contributor/help/getting-paid.html

Adobe, will there be any moves to update this in view of the weekend British pound?
« Last Edit: September 27, 2022, 08:29 by KuriousKat »

« Reply #5 on: September 27, 2022, 11:10 »
+2
Yes it was the other way round many years ago and there were lots of us annoyed we had unknowingly opened US accounts (didn't know there was another option!). Anyway, they should pay the same USD value to everyone and use a currency conversion very close to market rate if the contributor wants to receive it in their own currency (so we don't get ripped off by Paypal). I think Canstock does this now.

« Reply #6 on: September 27, 2022, 11:14 »
+1

« Reply #7 on: September 27, 2022, 12:05 »
+2
...Could we at least have a choice as to which currency we are paid in, so that we can control extraction of funds based upon exchange rates?

This topic has been around a *very* long time and is essentially unchanged.

https://www.microstockgroup.com/fotolia-com/fotolia-now-paying-less-than-16-!!!!!!/

https://www.microstockgroup.com/fotolia-com/how-about-a-new-credit-conversion-system-that-is-fair/

https://www.microstockgroup.com/fotolia-com/important-fotolia-announcement/msg523845/#msg523845

https://www.microstockgroup.com/fotolia-com/fotolia-what-currency-are-you-paid-in/

Yes, I know it's been discussed in the past, and Adobe are unlikely to give the option for contributors to collect in a different currency, but they could easily update the value of the credit to UK contributors from .75 to perhaps something higher and more in line with the exchange rate.

« Reply #8 on: October 04, 2022, 05:31 »
0
I remember initially when I researched adobe that when opening the account to choose the currency of the country you were in. After which it would remain as is. Can't remember the details but yeah conversion costs.

« Reply #9 on: October 05, 2022, 03:37 »
+1
I remember initially when I researched adobe that when opening the account to choose the currency of the country you were in. After which it would remain as is. Can't remember the details but yeah conversion costs.

I joined when it was Fotolia and, if I recall correctly, the only options at the time were Euros or $US. As all my other sites paid in $US, I opted for this.

I don't have an issue with being paid in $US, I just think Adobe should revisit the 1 credit = $1 = 0.75. The British pound almost hit parity with the dollar last week, so anyone being paid in the UK loses around 20% of their income.

Over the last 5-6 years, the .75 rate has been reasonable, as the exchange has fluctuated largely between .70-.80, meaning that .75 has been a fair average for both parties. However, since June of this year, the rate has exceeded .80 and hit .95. If it stays this high for any length of time, then Adobe are big winners and the contributors are big losers.

Linking the value of a credit to the real exchange rate, or at least having an annual revision, is not an unreasonable request, and I hope Adobe take note and take action.



 

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