Shop Etsy

Update: List Items and Receive Payments in Your Currency

Jan 13, 2011

by ericds

Hi all,

In November, we released the ability to list items and receive payments in your currency: http://www.etsy.com/forums_thread.php?thread_id=6688141

Many sellers have switched to listing in their currency, but some sellers are worried about making the switch. We just released an update to make it easier to test listing in your currency. When you change your shop currency, you now have 14 days to switch your prices back. You can see how listing in your currency works for your shop, and if it doesn't work out, you can change your currency back within 14 days to restore your prices from before the change. After 14 days, we use current exchange rates if you change your shop currency back.

Many sellers have also asked why they would want to list in their currency. Here are few of the main benefits:

1. Remove the need to update your prices to keep up with exchange rate fluctuations. You will always receive the exact price you set in your currency.

2. Lower PayPal fees. If you receive a payment in a currency that does not match your PayPal account currency, PayPal will charge an extra fee to receive the payment. If you list in your currency, all PayPal payments will be in your currency, which should match your PayPal account currency.

3. Appeal to local buyers who may be more likely to purchase from your shop if the transaction will occur in their currency.

One of the primary concerns we've heard about making the switch is that it could make US buyers less likely to purchase. It's important to note that US buyers will view an approximate price in USD. The approximate price is generally within a few cents of the final price the buyer pays on PayPal. Buyers do not pay any additional fees, so there are no surprises when the buyer receives their credit card bill. We have seen many US buyers purchase from shops with non-USD currencies, but it's best to test changing your shop currency to see if it works for your business.

If you have questions or concerns, please post in this thread:http://www.etsy.com/forums_thread.php?thread_id=6744480

Thanks!Eric