All you need to know about currency exchange when selling online

No primary category set

We’ve partnered with InterCultural Elements to bring you a 10 part video series to give you a head start on expanding your sales to new territories. Over the next weeks it will form a step by step guide to your international expansion.

If you’ve missed any of the previous instalments you can catch up on our TamebayTV How to take your ecommerce business abroad playlist on our YouTube channel

This week, Scott Galvao sits down with Bart from WorldFirst to discuss currency exchange and what you need to know when selling online.

Bart sets the stage for international selling pointing out that the first steps are to determine if your products will sell in a particular market followed by the logistics of fulfilment – figure out how will you ship items to customers in a particular country. Once you’ve figured out the mechanics of selling, the next question to consider is how you will get paid and access funds paid in a foreign currency.

Scott and Bart discuss the costs of exchanging currency and how these can be reduced as well as the risk involved due to currency fluctuations and how you can protect against them:

RELATED POSTS..

Virtual-bank-accounts-usage-limited-by-Amazon

Virtual bank accounts usage limited by Amazon

PayPal-currency-spread-stealth-fee-increase

PayPal currency spread stealth fee increase for US merchants

How-to-take-your-business-global-Tamebay-talks-to-OFX

How currency affects business with OFX

Exchange-Rates

Quarterly Currency Update from Chief Treasury Analyst at Currencies Direct

Amazon-Currency-Transfer

Cautionary tale: Using money transfer service got Amazon account suspended

ChannelX Guide...

Featured in this article from the ChannelX Guide – companies that can help you grow and manage your business.

Register for Newsletter

Receive 5 newsletters per week

Gain access to all research

Be notified of upcoming events and webinars