Currency conversion fee - how much?

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New Member
1 0 1

Hi,

Looking to accept USD, and payout in a different currency. 

I understand there is a currency exchange rate (market rate) and also a currency conversion fee charged by Shopify as per https://help.shopify.com/en/manual/payments/multi-currency/conversion-fees

 

However, it doesn't state what is this currency conversion fee. Is it a flat rate? How much? 

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Shopify Staff
Shopify Staff
1400 139 384

Hey there, Ryan.

 

Bo here from Shopify Support! 

 

That is a wonderful question. Currency conversion fees, sometimes referred to as exchange or FX fees, will be charged to you in the same currency that you receive payouts in. 

 

The breakdown of fees per country can be seen below:

  • UK, Ireland, Spain, Germany: 1.75%
  • Japan: 2%
  • All Other Countries with Shopify Payments Available: 1.5%

Selling in USD is a great way to expand your international market as USD is the most widely accepted currency internationally, online. Are you planning on expanding your audience as such? If so I would highly recommend checking out our blog: Is Your Ecommerce Business Ready for International Sales?

 

If you have any further questions, please do not hesitate to ask!

 

All the Best,

Bo

Bo - Social Care @ Shopify


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Shopify Partner
2 0 0

Hi Bo,

Thank you for for providing the information regarding the conversion fees!

You have a question - do these fee rates apply (depend) on shops location or customer location.

For example: The conversion rate for Japan is 2%, does this mean that shop is located in Japan or customer is in Japan?

Thank you in advance!

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Shopify Staff
Shopify Staff
1400 139 384

Hey there, Ulan 

 

That is a really great question. The conversion rate would depend on the shop's location as opposed to the customer's location. 

 

All the Best,

Bo

Bo - Social Care @ Shopify


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New Member
2 0 0

Hi Bo,

Can you help me out to clarify the situation?

I have a company in the US and a store which has USD currency.

I'd like to expand to the hungarian market, so i'd like the customers to be able to pay in Hungarian Forints.

Let's say i have the "Shopify" $79 plan.

If a customer buys something from Hungary and pays with HUF how much would be all the fees if i'm using Shopify payments.

2.6% + 30¢ would be the basic fee, how much is the currency conversion fee?

Thank you!

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Shopify Staff
Shopify Staff
1400 139 384

 

Hey there, @Doriann 

 

Great question. Merchants can still only select one selling currency per shop. Merchants can still only receive payouts in one currency per shop. Are you looking to sell in both USD and HUF or just HUF now? At this time, your store can only sell in once currency. The FX fees for the US are currently at 1.5%. 

 

I hope this helped, if there is any further information you need, please do let me know.

 

All the Best,

Bo

Bo - Social Care @ Shopify


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Was your question answered? Mark it as an Accepted Solution
To learn more visit the Shopify Help Center or the Shopify Blog

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