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Using Paypal on my website

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  • 28-02-2014 5:57pm
    #1
    Bugatti
    Registered Users Posts: 317 ✭✭


    I'm getting a subscription feature added to a website I have. Users will be able to subscribe for 3 months or 1 year. But I have 2 questions about using paypal as the means for accepting subscription payments...

    First of all, I expect the majority of users to be from the UK rather than Ireland. Therefore I want to set the default currency as £. Will there be any issues with this since payments will be coming to me in Ireland? Or will the system just change to € when processing the payment? Would there be extra charges?

    Secondly when I'm in the paypal store where I enter my credit card details, should the currency automatically change from £ to € when I select Ireland as my country? At the moment when I try that the page refreshes but the price remains in pounds.


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    #2
    Cianos
    Registered Users Posts: 4,850 ✭✭✭Cianos


    Are you using recurring subscriptions? Are payments being processed on your site or on PayPal?

    And why not allow for a currency switch on the site?


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    #3
    Nika Bolokov
    Registered Users Posts: 651 ✭✭✭Nika Bolokov


    use stripe.com instead of paypal


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    #4
    mneylon
    Registered Users Posts: 7,739 ✭✭✭mneylon


    You can setup your paypal account to handle as many currencies as you want.

    When you need to withdraw the money to your Irish bank account you might need to move the Sterling to your Euro balance, but that only takes a couple of clicks.

    Withdrawing cash from your paypal account to an Irish bank account doesn't cost anything and the money will get to your account within a couple of days.

    As for setting currency etc., in your site - it depends what you are using, but you can usually set a currency pretty easily

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    #5
    Patrickheg
    Closed Accounts Posts: 225 ✭✭Patrickheg


    Blacknight wrote: »
    Withdrawing cash from your paypal account to an Irish bank account doesn't cost anything and the money will get to your account within a couple of days.

    How does the exchange rate which paypal offers for converting sterling to euro before transferring to the euro account compare to say buying currency directly from a bank?

    Reason I ask is that generally transferring currencies between two bank accounts not of the same currency incurs a couple of % penalty by way of a crap enough exchange rate from the receiving bank so I assume paypal simply don't lodge sterling to a euro account before transferring.

    Just wondering if the OP would be better of opening a sterling account, let paypal settle to the sterling account and drawdown on it when needed. Obviously you are then bringing the risk of the euro weakening against sterling between exchanging currencies into the equation but something to think about but holding sterling is always useful as it may be cheaper to buy some supplies from a UK supplier

    It would be a shame to give up a few % of your margin if it can be avoided.


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