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Optimising payment costs with currency conversion

06 Sep 2012 10:36



we established a small trading business in China with and selling to mostly western Europe. We receive mostly Euro via PayPal (some GBP and USD as well) and would like to optimise this process:

1. PayPal transaction fee (2.4% + $0.30 USD to 3.4% + $0.30 USD depending on last month turn over)

2. Withdraw to Hong Kong bank account - currency conversion (EUR/USD/GBP in HKD) (something like PayPal exchange rate fee which is usually 0,08% of the transaction)

3. Transfer from Hong Kong to China - currency conversion (HKD in RMB) (which results into another fee like around 100HKD + the loss of the currency conversion)


Does anyone have an idea how to optimise this process in the sense of cutting costs? A direct transfer to a China Bank Account would be 35USD fee + all conversion loss etc. Customers have to pay for this and I would be very happy if I can cut costs there.


Thank you in advance

Bye, Chris

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