Adding an option to get paid in different currencies

[vgonis]

I have been using ebay for quite sometime. ebay.com seemed the logical solution, when all other ebay sites were in their infancy, the dollar rate was quite advantagious to Euro, the custom inspections were not very strict  and Paypal was not quite a seperate company from ebay.  Now all these things have changed.

So the issue is this. Paypal's exchange rate from currency to currency is not good at all.  I am from Greece and I still list on ebay.com, but lately most of the times the buyers are in the EU. I could use the EU sites, although only the Ireland one seem to help with combination of  language (English) and currency (Euros).  However I was wondering if there is a way to send an ebay invoice in Euro currency instead of the $ default. Or if there is a way to inform and allow the buyer to pay straight through Paypal in Euro currency, especially since Paypal charges are harsh and changing Euros to $ to pay and from $ to Euros to get paid seems quite a waste of money.

Any solutions within these parameters?

[pjcdn2005]

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@vgonis wrote:

I have been using ebay for quite sometime. ebay.com seemed the logical solution, when all other ebay sites were in their infancy, the dollar rate was quite advantagious to Euro, the custom inspections were not very strict  and Paypal was not quite a seperate company from ebay.  Now all these things have changed.

So the issue is this. Paypal's exchange rate from currency to currency is not good at all.  I am from Greece and I still list on ebay.com, but lately most of the times the buyers are in the EU. I could use the EU sites, although only the Ireland one seem to help with combination of  language (English) and currency (Euros).  However I was wondering if there is a way to send an ebay invoice in Euro currency instead of the $ default. Or if there is a way to inform and allow the buyer to pay straight through Paypal in Euro currency, especially since Paypal charges are harsh and changing Euros to $ to pay and from $ to Euros to get paid seems quite a waste of money.

Any solutions within these parameters?

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Buyers are always billed in the currency of the listing and as far as I know, there is no way of changing that.  Even if you put a note in your listing that you are willing to invoice them in a currency other than the US dollar, eBay won’t allow you to ask them for their Paypal  email so that you can invoice them.  

You may may get some replies on here that you can receive payment in the buyers currency just  by not blocking foreign currencies on PayPal but that won’t make a difference. Regardless of your PayPal settings buyers can only pay you on eBay in the currency that you listed in. 

[vgonis]

Thank you for the fast and to the point reply, pjcdn2005.

It is a shame that there is no such option, and no solution, but thank you for your time.

I wonder if sellers pressed ebay on the matter, if it will make any difference. Paypal's exchange rate is quie harsh and in such cases it makes sales almost not worth it. 

[ersatz_sobriquet]

Switch your paypal account to only accept euros and the buyers must pay any conversion fees if they are using a different currency. Or, list on the ebay EU sites. 

[vgonis]

Thank you very much  ersatz sobriquet. 

 If it really works, it is a solution.

Yet it would feel a bit peculiar for the customer, listing in $ and then forcing them to pay the fees for Euro conversion.

[ersatz_sobriquet · Accepted solution]

I agree and think it would be best if you switched to EU ebay. That's where your sales are anyway. When EU buyers search, your listings are right now shown under see more from foreign sellers, so they have reduced visibility on the EU sites. 

[vgonis]

Thank you very much for your help. I really appreciate it.

[pjcdn2005]

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@vgonis wrote:

Thank you very much  ersatz sobriquet. 

 If it really works, it is a solution.

Yet it would feel a bit peculiar for the customer, listing in $ and then forcing them to pay the fees for Euro conversion.

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Not only peculiar but the buyer would be unable to pay at all since they can only pay in the currency the item was listed in.

[vgonis]

Hi  again pjcdn2005,

yes I have read this on your first post, that is why I said "if it works". But since I have not checked it, I am in no position to say. I have to take your word.

Still, as I also mention it is an unorthodox way of doing business and dealing with your customers, so I would avoid it either way.

It seems as though I will have to move to an EU ebay, after all.

Again thank you very much for your input. Your persistance and authority means that you have knowledge of the subject.

Sincerely

Vassilis

[luckythewinner]

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@vgonis wrote:

Any solutions within these parameters?

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1) Set up your PayPal account to maintain a Dollar balance in addition to Euros

2) When you receive Dollars they will stay as Dollars - avoiding the first conversion fee

3) When paying in dollars, use your Dollar balance fist to minimize the second conversion fee

4) Find a dollar bank with a more favorable conversion rate than PayPal

5) Set up a Dollar account at that bank, withdraw your Dollars from PayPal to that account

[vgonis]

luckythewinner thank you for your aswer.

This could be another fine solution. I do keep the crrency in $. I also accept payments in at least 3 other currencies, because I use it to buy from these 3 other countries. Unfortunately, due to the reasons I already mentioned, buying from countries outside the EU, has become extremely expensive, due to tarifs and shipping expenses.  As for opening an account in a bank in foreign policy in Greece, after the crisis started in 2010 and the bank moratorium in 2015, it has become difficult, let alone dangerous if you can't provide any legitimate proof of the money. 

But as I said, these are fine suggestions, in similar situations but not in Greece.

Thank you once again for your time

[slippinjimmy]

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@ersatz_sobriquet wrote:

Switch your paypal account to only accept euros and the buyers must pay any conversion fees if they are using a different currency. Or, list on the ebay EU sites. 

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That will NOT work. It might work for personal payments "Send Money" but NOT for an eBay transaction.

As PJ explained buyers can ONLY pay in the currency of the original listing.

The only thing the OP can do is list on a site that uses the Euro.

PayPal's currency conversion fee is about the same as virtually all banks at least as far as small amount go. If you typically convert larger sums it's possible to get better rates.

[vgonis]

Thank you for the confirmation about the accepted currencies not working, slippinjimmy.

However, I must add that comparing the exchange rate that ebay uses to convert $ to Euros, (actually showing you how much money you sold your item for, in your country's currency) which is pretty much the same used at XE site, and the paypal balance rate conversion (which for some reason is slightly better than payment rate conversion) they have a difference of approximately 4.5% which I find very harsh, especially if you consider that most of the times the money come from transactions that they have already given a commision - profit to Paypal.

Thank you for your confirmation. Have a lovely weekend!