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  1. #1
    Join Date
    Feb 2003
    Location
    Kuala Lumpur, Malaysia
    Posts
    4,974

    Charging Euro instead of USD?

    i've been reading reports that USD will continue depreciating due to the massive budget deficit and the Chinese government has raised their concerns with their 'assets' with US treasury bond.

    have you ever thought of moving business to charging euro or alternative currency to be better protected with your revenue?

    how do you think customers would react?

    what's the pros and cons?

    i'm sure it's fine for US based companies, what about international business that charges USD?

  2. #2
    Most people feel comfortable paying in their own currency so it depends on where most of your clients are from. Having said that if they feel they are getting a fair deal most people won't mind - they certainly won't go elsewhere because of it.

    The way the US Dollar seems to be going I think it may be a wise move if you deal with international clients.

  3. #3
    Join Date
    Oct 2002
    Location
    Langley, BC
    Posts
    2,046
    Yes, maybe you can default your gateway to EUR but have the option for clients to change their currency preference to USD as well as other currency.
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  4. #4
    Join Date
    Dec 2003
    Location
    Calgary, Canada
    Posts
    42
    So long as your converting currency back to your home currency reasonably quickly, it doesn't really matter. You just need to keep an eye on your prices and make sure that foreign currency deals are translating into profits and not big loses.

    If your in the US and all your expenses are USD, it really matters even less. Switching to EUR and holding a bunch of EUR is simply speculation, which is fine, but realise your not hosting anymore but investing.

    Once you match your payables with receivables from a currency prospective, the remainder should be in whatever currency you run your life in. Again, unless you want to speculate. But that's adding risk to your business... something you need to consider fully.
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  5. #5
    Join Date
    Apr 2007
    Posts
    3,513
    At the moment we use both USD and GBP although everyone still pays in USD even if they are in the UK.
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  6. #6
    If you are selling to US residents, then you will kill your company if you try and charge them in any currency except USD.
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  7. #7
    Join Date
    Sep 2009
    Posts
    103
    I guess you can give the option to pay in Euro, but the international currency still is US Dollar, so for an US company I see no reason why you want to offer payments in Euro.

  8. #8
    We invoice in the currency that the customer chooses USD, EUR or GBP.

    We are in the UK and target mainly UK customers yet we still have a majority of people selecting USD as the invoice currency for some reason.

    If we were in the US I would not switch to EUR though..

  9. #9
    Join Date
    Nov 2004
    Location
    India
    Posts
    1,100
    Give a try on multiple currencies couple of month as an experiment.
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  10. #10
    Join Date
    Aug 2008
    Location
    on the web
    Posts
    202
    I strongly recommend you to use multiple currencies. Or you will end up in a notable loss in "Fees", "Datacenter Fees", "Exchange Rates".

    Throw away if your billing system doesnt support multiple currencies.
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