What are the currency adjustment fees ?
Regiondo offers the possibility to accept payments in foreign currencies such as Pounds ( £ ) , Dollars ( $ ) and much more.
The exchange rate between the Euro and these currencies fluctuates everyday, and today's rate can be totally different than next week rates.
The exchange rate between the Euro and these currencies fluctuates everyday, and today's rate can be totally different than next week rates.
Where can I set up the currencies?
Go to shop configuration > Payment options in your dashboard to choose the currencies to want to offer and the payment methods you want to support.
This function was developed in the scope of the introduction of foreign currency to mitigate the currency rate fluctuation risks. We pay out operators in their currency (EUR) for transactions done in another currency to avoid processing fees for them.
And how does it work for the customer ?
Note
If the customer chooses a different currency than the operator - the customer has to pay the adjustment fee. And if the customer switch to the operator's currency, there might be some fees from the bank for the transaction.
During checkout, we make it clear to the user (the American customer in the case below) that we apply an adjusted exchange rate (interbank + 3%) to the transaction. If the customer does not agree with the fee and prefers to switch to the base currency of the operator (in this case EUR) no conversion fee is applied, but fees may be applied by his bank.
You can see an example below, the fees are clearly mentioned:
On the customer side, once the payment made, the fees will be displayed in both currencies on the confirmation mail:
