My store is located in Spain but my customer base is in the Uk so we receive pounds Sterling from our customers and store currency is set to pounds for this reason. As we are registered in Spain, Shopify will not let us receive Sterling even though we have a sterling account here and therefore charges 2% conversion fees on top of the 2.4% + 0.25 credit card fee. We do not however pay transaction fees of 2% which we are obliged to pay if we use a third party provider.
There doesn't seem any way around these conversion charges but to use our bank as a third party payment platform. What I don't know is, will Shopify still obligate my bank to receive Euros even as a third party provider? The only way to receive payouts in Pounds is by changing the Payout settings and when I do, it asks for my Uk business registration?
Also will I then get charged the 2% transaction fee on all my Pay Pal payments if I remove shopify payments?
Lastly, I see it says I can use both a Third Party and Shopify payments but I don't understand how Clients will choose between them if they both offer vISA, MasterCard etc?