How can I avoid currency fees in Japan ?

How can I avoid currency fees in Japan ?

Migo28
Tourist
5 0 10

Hello, I sell from Japan and 100% of my customers are in Europe.
The problem is that I use shopify payment and from what I understand it is impossible to make a payout in a currency other than the yen if our store is based in Japan.
The card fees for shopify payment in Japan are 3.55% and if I add the conversion fees which I believe are 2%, + the fact that most customers also receive conversion fees, this makes the fees way too expensive.


So my questions are:

 

- If I change the currency of the store to Euro, can I at least allow the 2% conversion fee to be removed? I've read that it's the currency of the payout that defines whether there are conversion fees or not, but in this case the option to change the currency is absolutely useless, so I find it a bit odd.

 

- As I'm European myself, can I change the location of the store to my address over there, so that I can access payouts in euros while remaining legal?

 

Replies 3 (3)

Yuparkoti
Shopify Partner
260 18 30

@Migo28 

Even if you change the currency of your Shopify store to EUR, you will still be charged a 2% conversion fee because the payouts are made in JPY.

If you are from Europe, it would be possible for you to move your store address within Europe so that you receive Euro; this will avoid charges related with converting currencies, although at all costs one must observe tax and business regulations of EU.

Contact Shopify support for an easier process.

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masoomi-saxena
Shopify Partner
91 0 14

Hey there, 

First question: No, that's not possible. 
Second question: Do you have a registered European business and a European bank account? Are you using European Shopify payments? You can try that. How about trying another payment operator like Stripe or PayPal (these may still charge currency conversion fees if not correctly set up)? 

Masoomi Saxena | Content Writer @ AdNabu


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biremi
Tourist
3 0 12

Do you have a Stripe EU account? Check the third party solution Easy Shopify Stripe Checkout.