Quote:
Originally Posted by worlddom  Brad
I am sorry but this does not relate to the example that you have given. The only European association is that I have an address in Spain which is listed on the account.
In effect you have received £1000 from a buyer, taken £100 in commission, converted the funds into Euros and tried to pay them into a UK Sterling account which has not only caused a deficiency but also incurred a bank charge for doing so. |
Hi Mark,
Our system is set up to send payments within Euro-currency countries in Euros. We send sterling to the UK and US dollars to the US. Our clients can choose the currency in which bidding takes place, but if you are located in the UK and choose to sell your domain in US dollars, your payment will be in sterling (the rate of conversion happens at the time of agreement).
This happens for several reasons. Mainly, most of our clients prefer to receive payment in the currency of their home country. For those who live in countries other than ones whose currencies we offer, we pay in Euros for parking or the currency of their choice for domain sales.
Sedo does not benefit from this currency issue and you certainly don't, either. Your bank does. This is a rare case (of which I have only seen happen twice, and both times were this past week). I'm going to send you a PM to go into more specific details with you, but I did want to make a post on here so others know what is going on.
Kind regards,
Brad
brad.tilley@sedo.com