MicrostockGroup Sponsors

Author Topic: Best payment method, exchange rates and fees  (Read 3331 times)

0 Members and 1 Guest are viewing this topic.

« on: March 04, 2014, 10:05 »
What with the terrible dollar vs pound rate at the moment I am wondering if I'm getting the best deal when it come to exchange rates.

I think the best way of getting the facts could be to a little community project to study the different rates out there.

I'll start, here's my last cash-out of paypal. US$ to GBP, I am sure lots of people will be interested in US$ to Euro too.

It would be great if everyone who has a minute could report on the rates they are getting through the different payment platforms at specific times and dates, then we can put a graph together. If you can adjust times to GMT that will make it easier to compare.

4 Mar 2014 09:30 GMT
1 US Dollar = 0.5833 British Pounds
No other fees


« Reply #1 on: March 04, 2014, 10:11 »
The going rate is 0.60 so you are paying 0.017 cent extra per dollar. I have never worried about it. Its not enough for me to worry about, CODB.

« Reply #2 on: March 04, 2014, 10:40 »
Agreed, the fees have to be paid, I was just trying to minimize the expense.

The percentage fee works out to about 2.8% I think (0.0167 as a percentage of 0.6).

You could be right, probably any potential saving by switching payment method isn't worth the effort of calculating (although over the year maybe?). I could just be trying to distract myself from the latest news from IS!


Related Topics

  Subject / Started by Replies Last post
3 Replies
Last post April 18, 2008, 03:45
by basti
3 Replies
Last post June 22, 2011, 03:59
by gejam
10 Replies
Last post September 23, 2012, 06:20
by aeonf
5 Replies
Last post December 30, 2019, 12:57
by Uncle Pete
27 Replies
Last post September 16, 2021, 06:06
by dook1000


Mega Bundle of 5,900+ Professional Lightroom Presets

Microstock Poll Results


3100 Posing Cards Bundle