Moonbase GBP feature request

[David Healey]

@dannytaurus Voted, I don't see a per-currency breakdown in Moonbase though so not 100% sure about the split.

[dannytaurus]

@tobbentm If any of my post is inaccurate please let me know!

[tobbentm]

@dannytaurus the only thing I'd add is that the 3% conversion fee is carried by the buyer by default, so you don't technically pay that.
This is the alternative to listing in EUR for example, where the buyer would still pay the conversion fee, just through their card provider instead.
The end result should be that you get the same net amount in either case.
If you hard-code a GBP price, you should include the conversion rates in that price to get the same effect.

I totally get this is not great if you expect GBP in your account at the end of the day, so I hope we can add support for more holding currencies by the end of the year.

[Lindon]

@dannytaurus The one thing we do - given the range of 3rd-parties we sell thru and their differing currency approaches, is have our own Wise account, and this allows us to hold and transfer(at the best conversion rates we can find anywhere) between currencies at our own discretion. We just tell the 3rd-party the details of the account holding the currency they prefer. If I recall correctly Wise accounts are free, they will pay you interest and the transfers between accounts is seamlessly manged(by you) on line whenever you want, including transferring to your Real-world bank account. We have US Dollar, UK Sterling, Australian Dollar and Euro accounts...all in the one Wise account, with a Debit card we can use anywhere.

Might not be everything you want but you should take a look.

[dannytaurus]

@Lindon Yeah, we talked about Wise previously. It doesn't help with the Moonbase internal conversion situation though.

https://forum.hise.audio/post/122699

[David Healey]

@Lindon said in Moonbase GBP feature request:

they will pay you interest

This I didn't know, are the rates any good?

[dannytaurus]

@David-Healey You have to switch on 'interest'. GBP is 3.29%, USD 3.6% and EUR 2.2%.

[David Healey]

@dannytaurus Oh that's a decent rate, at least compared to my bank.

[dannytaurus]

@David-Healey THAT WAS NOT FINANCIAL ADVICE!!!

[David Healey]

@dannytaurus Haha, well I looked into it anyway. Seems like I have to use Wise assets to get the interest thingy, I checked with the bank I use for my savings account and if I open a new account I get 4% there, so that's what I did :)