Agent WranglersCurrencies and settlement
Set a price per currency and record the rate and settled amount of every charge. Refund in the currency paid, and convert money only once.
- Recommended 4
- Avoid 1
Recommended
Set a price in each currency instead of converting at checkout
PAY-66Store a fixed price for each currency you sell in, in the price catalogue. Never compute a customer's price from a live exchange rate at checkout.
Record the rate and settled amount of every charge
PAY-67For each charge, refund and fee in a foreign currency, store the amount the customer paid and the provider's exchange rate. Store the amount you received too.
Refund in the currency the customer paid
PAY-68Refund the same amount in the same currency the customer paid. Carry any exchange difference yourself.
Settle in currencies you spend and convert only once
PAY-69When one foreign currency makes up more than 20% of sales, settle it into an account in that currency. Stop converting each charge.
Avoid
Offering card holders their home currency at a hidden mark-up
PAY-70Never offer to charge a card in the holder's own currency at your rate without showing the total and the mark-up first. Charge in your listed price currency instead.
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