My store currency is in EUR but I am selling in multiple currencies (EUR, USD, SEK & GBP). I have a special business bank account that can accept those 4 currencies without conversion. Which means that the same bank account number has four sub accounts where each sub account accepts a different currency of those mentioned above. Is it possible to disable the Shopify's payment conversion and to accept payments in those four currencies without conversion?
Hyde here from Shopify.
I understand that your business bank account allows you to accept payments in those four currencies, however, to use Shopify Payments there will be a conversion fee that cannot be waived. There's more information on Shopify Payments Processing and Conversions here.
All the best, Hyde.
Thank you for your help. But my question was not about the conversion fees. It's the possibility to disable money conversion and to accept payments in different currencies since we have one multiple-currency bank account.
A multiple-currency bank account helps us a great deal to receive payments in different currencies and pay out expenses and taxes in multiple currencies. For instance, when we sell to the UK, we receive the money in GBP and then pay our the VAT to the UK in GBP. The same goes for Norway that receives our VAT in NOK. With the present Shopify system, we are obliged to convert all received payments to EUR (store's currency), and then convert that money a second time when we pay out our dues. Too many conversions and conversion fees!
I think it would make more sense if Shopify added fees to solutions that simply things for stores and not for making transactions more complicated!
Oh, I understand now, apologies for the initial misunderstanding. It is not currently possible to disable money conversion and to accept payments in different currencies, but I'll be sure to pass your feedback on to our developers and escalated support. -Hyde.