[Osmf-talk] payment options for membership fees, donations and sponsorings in different currencies

Martin Koppenhoefer dieterdreist at gmail.com
Mon May 14 12:10:41 UTC 2012


2012/5/14 Andy Robinson <blackadderajr at gmail.com>:
> The problem with opening more accounts is that they will each probably cost
> money to service which somewhat offsets of course the benefit of zero
> exchange commissions.


yes, this is obvious. What I am less sure about is how much the costs
would raise for administration, bookkeeping and accountance (more
accounts are also more work and probably things will become also more
complicated if they are in different currencies). There is also the
possibility to loose (or win) money because of raising or falling
currency value/exchange rates.

FYI, in 2010 we lost 1,787.31 GBP due to exchange fees, which is 8,7%
of the whole income for 2010.
http://www.osmfoundation.org/wiki/Finances/Income_2010

cheers,
Martin




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