Working out Fees for EU Cross Border Payment
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Hi, is there a simple way to work out how much money I need to send someone as a 'service' if I am paying from my UK £ currency account to a customer who is in Europe (Germay) who has a Euro currency account?
I've tried looking in the fee structures and it's so damn confusing! And none of the fee calculator websites seem to cover this accurately.
If I'm sending UK £ to £ then it's 2.9% + £0.30p which is deducted if I send it as a service.
I need to work out if I sell an item / service for Euro 15,49 how much I need to send people so they get this amount after all fees are deducted.
I've seen somewhere that cross border fees if there is currency conversion increases the %
Any advice on how to easily work this out would be HUGELY appreciated.
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Hi @,ultimatemvg
Thank you for your post and welcome to the Community Forum!
If you are the buyer, you should not be calculating the seller's fees as these are always at the expenses of the seller and not the buyer. If you are paying in GBP, you can choose to convert the amount to Euro and when you do so, you will see the final conversion fee before confirming the payment. Also, you can pay in GBP and it would be the seller to convert the amount.
I hope this helps.
Martina
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