[Osmf-talk] payment options for membership fees, donations and sponsorings in different currencies
edf at sloan.mit.edu
Mon May 14 12:20:20 UTC 2012
allow me to recommend new start-up http://transferwise.com which makes
EUR-GBP transfers much cheaper (and more currencies coming soon)
I've used it personally several times with no problems.
2012/5/14 Martin Koppenhoefer <dieterdreist at gmail.com>
> 2012/5/14 Andy Robinson <blackadderajr at gmail.com>:
> > The problem with opening more accounts is that they will each probably
> > 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.
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