02-09-2006, 06:22 PM
I would like to configure my PayPal account to be convenient for people around the world to pay for my software product using whatever currency is convenient for them.
Mine is a PayPal business account.
My product is a specific price in USD. I have a Buy Now button on my website that sets up the transaction for that amount. When I receive a payment online, my online payment processing software issues the buyer a registration code to type into their downloaded copy of the software. It is important that the amount I receive is exactly the price of the product in USD so I'd like to have the buyer incur any additional fees associated with the currency conversion. I don't want to provide a separate price for each unique currency.
I have read through the PayPal information and I am still unclear on the right choice for my account. Lacking someone outside the country to make a test payment in a different currency, I thought I would ask the experienced folk here.
What should be my setting for the following question in Profile-->Payment Receiving Preferences?
I want to check "Yes" or "No". Currently I have "Yes" checked to avoid potential problems with users paying in something other than USD and not receiving their registration code automatically.
I'm not sure if this is the right setting. I'm hung up on the meaning of "sent to me". Does "Yes" mean that somebody paying in Euros will have their money automatically converted to USD and they will pay the exchange fee (PayPal's 2.5% or a charge from their credit card company if they choose to use its exchange service instead) so that the money "sent to me" will arrive in USD?
Or does "Yes" mean that nobody will be allowed to use their local currency and no currency conversion service will be offered?
Does "No" mean that I will have the amount paid to me fluctuate so that it will interfere with my backend payment processing and issuing of registration codes?
Mine is a PayPal business account.
My product is a specific price in USD. I have a Buy Now button on my website that sets up the transaction for that amount. When I receive a payment online, my online payment processing software issues the buyer a registration code to type into their downloaded copy of the software. It is important that the amount I receive is exactly the price of the product in USD so I'd like to have the buyer incur any additional fees associated with the currency conversion. I don't want to provide a separate price for each unique currency.
I have read through the PayPal information and I am still unclear on the right choice for my account. Lacking someone outside the country to make a test payment in a different currency, I thought I would ask the experienced folk here.
What should be my setting for the following question in Profile-->Payment Receiving Preferences?
Block payments sent to me in a currency I do not hold:
[ ] Yes
[ ] No, accept them and convert them to U.S. Dollars
[ ] Ask Me
I want to check "Yes" or "No". Currently I have "Yes" checked to avoid potential problems with users paying in something other than USD and not receiving their registration code automatically.
I'm not sure if this is the right setting. I'm hung up on the meaning of "sent to me". Does "Yes" mean that somebody paying in Euros will have their money automatically converted to USD and they will pay the exchange fee (PayPal's 2.5% or a charge from their credit card company if they choose to use its exchange service instead) so that the money "sent to me" will arrive in USD?
Or does "Yes" mean that nobody will be allowed to use their local currency and no currency conversion service will be offered?
Does "No" mean that I will have the amount paid to me fluctuate so that it will interfere with my backend payment processing and issuing of registration codes?