[thelist] International Hosting/E-Commerce

[edc]

On the logistics of foreign currency:

The organisers will find it cheaper and easier to deal with only two
currencies, their host currency and one other, i.e. Euro and USD, this will
also mean that they can get a better forward rate if they wish to hedge the
forex exposure, or only have to open one foreign currency account is they
wish to use that option.

On credit card currency rates: they are the biggest rip off on the planet,
there is no guarantee that any rate quoted on a site will bear any
resemblance to the actual rate the credit card company applies, nor the
timing of that rate which can vary widely.

Just because they don't quote exchange charges doesn't mean that they don't
build them in.

FYI the 'cheapest' way of transferring money cross border is by way of bank
draft.

Michael Ensor
----- Original Message -----
From: Murphy, William <murphy at litio.net>
To: <thelist at lists.evolt.org>
Sent: Tuesday, June 24, 2003 10:40 AM
Subject: Re: [thelist] International Hosting/E-Commerce


: The main problem is currency fluctuation, or whatever it's name is, you
will
: have to have an updated exchange rate unless the company already has
: calculated this, probably the easy way to go would be charching through
visa
: or something like that, and charging in only in one currency (dollars for
: example), and giving the customer info on how much they will be charged in
: their currency.
: You can charge for example 20 U.S dollars to a spanish customer informing
: them that the equivalent is 17.32 euros and visa will take care of the
: exchange, free of currency exchange charges (an extra that banks most
banks
: charge when exchanging foreign currencies). But be carefull I think visa
: uses the exchange rates of the day before, not the same day (im not sure).
:
: I hope this help's.
:
:     Bill Murphy
:
: ----- Original Message -----
: From: "Kyle Murphy" <kyle.murphy at tempschedulingsystem.com>
: To: <thelist at lists.evolt.org>
: Sent: Monday, June 23, 2003 11:10 PM
: Subject: RE: [thelist] International Hosting/E-Commerce
:
:
: > I'm not looking for an e-commerce engine, but instead just information
on
: > the logistics of multiple currency acceptance.
: >
: > BTW, the engine will be written in CF if that matters to anyone.
: >
: > >http://www.oscommerce.com/
: > >
: > >osCommerce indeed features multiple currencies and is linked to a
: currency
: > >conversion web site. You could probably find more information about
: > multiple
: > >currency commerce there.
: >
: >
: > --
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: >
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: >
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:
: --
: * * Please support the community that supports you.  * *
: http://evolt.org/help_support_evolt/
:
: Evolt.org conference in London, July 25-27 2003.  Register today at
http://evolt.org.uk
:
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:
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