Quote:
Originally Posted by Chris
So you're selling to customers in the Eurozone?
If so, I can understand why you feel it's less complicated for you to deal with the single currency than to have to deal with multiple ones.
I take bookings deposits via Paypal for our B&B but I operate the account in GBP because that's where I spend all the income. I'm going to pay an exchange fee somewhere along the way so I just take the hit at the point where the guest uses their euro-denominated credit or debit card to pay an invoice issued for Sterling. It amounts to a few pence over and above the usual Paypal fee for such a transaction.
But considering that Paypal does all the conversion and calculation for you, regardless of the currency (i get plenty of non-Euro bookings from around the world), is there really a material advantage in operating your Paypal account in the Euro?
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I could sell in GBP but I choose to sell in euros as I have hardly any uk clients. A decision made to maximise sales. Also I have costs in euros as well as I buy services from eu countries, so it simplifies things. To be honest I am not going too much into it, but the point is the euro has made life easier and if it didnt exist I expect I would have much less work and have issues buying the services I buy, as national currencies would be an obstacle.
A big argument behind not joining europe and hating the euro seems to be based on that there is no global market, and we as a little nation can survive just as well with more restrictive trade, that I disagree with.
---------- Post added at 13:01 ---------- Previous post was at 13:00 ----------
Quote:
Originally Posted by Damien
The Euro in this case isn't really increasing trade. Those customers could pay in whatever their local currency is and the banks exchange it.
The only confusion is when you said you use Euros which suggested you use it to pay for goods to day to day life rather than accept payments in Euros.
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More likely they would find someone else who gives them a price in a currency they use.