fadi - currency conversion | Stripe Developers | Page 1

burnt pollen Apr 15, 2022, 1:44 PM

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You won't be able to do this with 1 Stripe account. Currency is converted to your settlement currency. If you have business in certain other countries, you could create a Stripe account for each country

strange totem Apr 15, 2022, 1:54 PM

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👍 thanks, it is a good idea

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I have a question in this regard, is the settlement currency related to the country of the account or the currency accepted by the bank account linked to stripe account?

burnt pollen Apr 15, 2022, 1:59 PM

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Bank account

strange totem Apr 15, 2022, 2:01 PM

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so, if I linked several bank accounts to my stripe account, it should be able to accept payment in the linked bank accounts without currency conversion fees, right?

burnt pollen Apr 15, 2022, 2:02 PM

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Yes, sorry. However, whether or not you can do this is restricted by country. I recommend taking a look at these docs: https://stripe.com/docs/payouts#multiple-bank-accounts

Receiving payouts

Set up your bank account to receive payouts.

strange totem Apr 15, 2022, 2:06 PM

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but I think the solution you have offered is very good because we can avoid international payment processing fees also, so this should be considered

burnt pollen Apr 15, 2022, 2:08 PM

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Not too familiar with the business logistics as we are just API specialists, but I believe you would need a valid business license and address in the other countries

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If you go the route of creating multiple accounts

strange totem Apr 15, 2022, 2:30 PM

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Can only domestic payment methods be accepted to avoid international payment fees, can this condition be imposed through the API?

sweet blade Apr 15, 2022, 2:42 PM

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Hello 👋
Taking over for codename_duchess here and catching up

Can only domestic payment methods be accepted to avoid international payment fees, can this condition be imposed through the API?
I'm not sure I understand this. Can you give me an example? I'm assuming your integration has products with different currencies yes?

strange totem Apr 15, 2022, 2:48 PM

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Yes,
that is why I want to prevent payment methods that lead to the deduction of extra international payment fees, and limit the accepted payment methods to domestic ones only, as if I prevent the payment process using an Australian credit card when I sell in a Canadian market

sweet blade Apr 15, 2022, 3:03 PM

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Apologies for the delay here.
I'm not sure if its the foreign credit card that's causing conversion fees
It might just be the product that the card is used to purchase

strange totem Apr 15, 2022, 3:11 PM

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np dear,
Here I meant "the international payment processing fee" not the currency conversion fees, these fees apply even if the presentment currency is the same as the settlement currency but the credit card is issued in country other than the account country, as i have understood

sweet blade Apr 15, 2022, 3:14 PM

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ah okay! apologies for the confusion
let me take a look

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I know that for card payment methods, you can check the country
https://stripe.com/docs/api/payment_methods/object#payment_method_object-card-country

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and maybe use a radar rule to block the transaction 🤔

#fadi - currency conversion