Author Topic: SS transactions, they use wrong exchange ratio and you got less money or what?!! (Read 4761 times)

Stockmaan · « **on:** February 06, 2016, 14:19 »

On 6. feb I received money from SS. But I was surprised. They are used exchange rate 1 USD = 0.86556 EUR. All month (January) the exchange ratio between USD and EUR was higher than 0.9. I got 30 euros less than it should.

What I do not understand here ?

Can you guys check exchange ratio for your SS deposit (everyone who gets money in EUR)?

Thomas from France · « **Reply #1 on:** February 06, 2016, 15:12 »

SS send money in $.
I assume that your payment method is paypal ?

etudiante_rapide · « **Reply #2 on:** February 06, 2016, 15:14 »

foreign exchange fluctuate every day, even by the hour, buying or selling...
the exchange is based on the time of transaction.

to have more control of how much you get, the only way to do it is to open an account in US dollars so you receive it from ss in US$. there you sit the funds till your local currency exchange rate goes down so your US $ will give you more. there can be a fluctation of little or large, depending on the international exchange rate, and even among financial corporations, it still fluctates like credit card, payoneer, paypal,etc.

since ss is used to paying us regularly, i doubt if it is a mistake.

etudiante_rapide · « **Reply #3 on:** February 06, 2016, 15:26 »

specifically speaking, the US$ rose in spite of the oil situation, i think it rose from late january,
to today. euro fell due to the weakness of their situation. for specifics, you can check your bank's financial exchange day to day or minute to minute news on foreign exchange or the directions of the US dollar and the weakness of the Euro.

Stockmaan · « **Reply #4 on:** February 06, 2016, 15:34 »

Quote from: Thomas from France on February 06, 2016, 15:12

SS send money in $.
I assume that your payment method is paypal ?

Skrill is payment method.

Stockmaan · « **Reply #5 on:** February 06, 2016, 15:38 »

Quote from: etudiante_rapide on February 06, 2016, 15:14

foreign exchange fluctuate every day, even by the hour, buying or selling...
the exchange is based on the time of transaction.

to have more control of how much you get, the only way to do it is to open an account in US dollars so you receive it from ss in US$. there you sit the funds till your local currency exchange rate goes down so your US $ will give you more. there can be a fluctation of little or large, depending on the international exchange rate, and even among financial corporations, it still fluctates like credit card, payoneer, paypal,etc.

I control exchange ratio usd eur everyday (mon, tue, wed, thu, fri). It is weird. I will send him a ticket.

Stockmaan · « **Reply #6 on:** February 06, 2016, 16:11 »

Quote from: etudiante_rapide on February 06, 2016, 15:14

foreign exchange fluctuate every day, even by the hour, buying or selling...
the exchange is based on the time of transaction.

to have more control of how much you get, the only way to do it is to open an account in US dollars so you receive it from ss in US$. there you sit the funds till your local currency exchange rate goes down so your US $ will give you more. there can be a fluctation of little or large, depending on the international exchange rate, and even among financial corporations, it still fluctates like credit card, payoneer, paypal,etc.

since ss is used to paying us regularly, i doubt if it is a mistake.

Microstockphoto · « **Reply #7 on:** February 06, 2016, 16:19 »

using a payment processor cost money, period. ss sends dollars, youre angry at the wrong company

r2d2 · « **Reply #8 on:** February 06, 2016, 16:41 »

Yes Paypal or in your case Skrill is the bad guy. With Paypal you can create an $ account then you have dollars in your account without automatic changing to your local curency. But the change rates at PP are always bad and they have a fee for changing.

Stockmaan · « **Reply #9 on:** February 06, 2016, 16:51 »

Quote from: Microstockphoto on February 06, 2016, 16:19

using a payment processor cost money, period. ss sends dollars, youre angry at the wrong company

SS set exchange ratio, period. Paymant processor cost money yes, 2 EUR or less for one transaction. This is other story.

Transaction ID:   **********
Exchange rate used:   1 USD = 0.86556 EUR
Amount received:   ***.** USD
Sender's email:   [email protected]

As I say, in January 2016, exchange ratio 1USD =1EUR never fall below 0.9.

Microstockphoto · « **Reply #10 on:** February 06, 2016, 16:52 »

R2d2, all depends on the country you are in

Microstockphoto · « **Reply #11 on:** February 06, 2016, 16:53 »

stockmaan, no they don't

sharpshot · « **Reply #12 on:** February 06, 2016, 17:05 »

Skrill and Paypal have a large fee for currency conversion, some of it is the spread on the currency, you never buy and sell at the spot price. The rest is a bonus for them and not nice for us but there isn't really another option, other than moving to the US.

"For transactions involving currency conversion Skrill adds a fee of between 2.99% and 4.99%** to the wholesale exchange rate we offer. "
https://www.skrill.com/en/fees/

Microstockphoto · « **Reply #13 on:** February 06, 2016, 17:33 »

banks charge fees too. i dont have a problem with paypal making money. they have costs too. try and find a free of charge payment processor.

Noedelhap · « **Reply #14 on:** February 06, 2016, 18:37 »

Checking the USD/EUR graph on February 3rd and February 4th, you'll notice there was a huge dive with USD/EUR. With Paypal this resulted in an currency exchange rate (including fees) of 0.875 or so. This might be the cause of your exchange rate. Shutterstock has nothing to do with it.

Check this chart
http://www.xe.com/currencycharts/?from=USD&to=EUR&view=1W

Copidosoma · « **Reply #15 on:** February 06, 2016, 18:47 »

Quote from: Stockmaan on February 06, 2016, 16:51

Quote from: Microstockphoto on February 06, 2016, 16:19
using a payment processor cost money, period. ss sends dollars, youre angry at the wrong company

SS set exchange ratio, period. Paymant processor cost money yes, 2 EUR or less for one transaction. This is other story.

Transaction ID:   **********
Exchange rate used:   1 USD = 0.86556 EUR
Amount received:   ***.** USD
Sender's email:   [email protected]

As I say, in January 2016, exchange ratio 1USD =1EUR never fall below 0.9.

Shutterstock sends USdollars. Skrill sets the exchange.

As above, once again, you are upset with the wrong company.

sharpshot · « **Reply #16 on:** February 07, 2016, 05:27 »

I wonder why SS don't do the currency exchange and keep the fee for themselves? They are big enough and could probably give us a better deal than Skrill and Paypal and still make a profit from it.

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Author Topic: SS transactions, they use wrong exchange ratio and you got less money or what?!! (Read 4761 times)

Stockmaan

Thomas from France

etudiante_rapide

etudiante_rapide

Stockmaan

Stockmaan

Stockmaan

Microstockphoto

r2d2

Stockmaan

Microstockphoto

Microstockphoto

sharpshot

Microstockphoto

Noedelhap

Copidosoma

sharpshot

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