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Hi Guys,
I’m a relative to the newbie scene and I have a quick question on currency conversion on commission payments.
I’m an affiliate who focuses on the UK market, and am therefore likely to have most of my players playing in GBP.
All my commission thus far has been quoted in USD. When’s it’s paid to me, it’s either converted back into GBP by the affiliate (if that is a payment option), or automatically converted into GBP by my UK bank account.
It seems like I may be losing quite a lot of commission here due to the often poor exchange rates offered by banks or, perhaps, affiliate programs.
Can anyone suggest any strategies to minimize this exchange rate loss? Or is this not worth worrying about?
Many thanks in advance,
Percy
From what I know you can open an USD account at HSBC or Citibank UK, but you will have to contact them directly and ask for their fees and stuff as I was told they do have some.
I am not sure how much of a loss the exchange rate is, but if it’s a 3-4 digit number each month, will add up in time. And if there’s a simple solution like opening such account I’d say go for it. If it’s however very complicated, requires fees and your time or perhaps flying out of the country and stuff, I will just say let it be as it is.
Regards
