- Joined
- Dec 25, 2004
- Posts
- 1,959
- Reaction score
- 371
Anyone else getting fed up with @godaddy charging excessive foreign exchange (FX) fees to convert USD to GBP?
As you may know @godaddy will only let you agree a price in dollars (USD). They do not support GBP when selling a name.
To convert USD in to other foreign currencies they seem to use a company called Tipalti. You will see a tiny link to their payee agreement on an e-check confirmation.
However in the @godaddy control panel you can see the conversion FX fees:
Here are three recent examples:
19/05/2024
Price Agreed: $3,700 USD
Amount paid out: £2,816 GBP
18/03/2024
Price Agreed: $45,000
Amount paid out: £34,570 GBP
13/12/2023
Price Agreed: $6,500 USD
Amount paid out: £5,006 GBP
Only if you use something like XE.com to convert USD at the exchange rate at the time can you see how much they are taking.
Note: On the most recent example I even tried to increase the USD sale price to get £3000 and they still took £184 extra, lost in FX conversion!
Some people (Godaddy?) will say why don’t you get paid in dollars? Simple answer to that one is we live in the United Kingdom and the company pays UK VAT.
Maybe when they attend the Domain Summit we can all persuade them to support selling names in GBP ?
As you may know @godaddy will only let you agree a price in dollars (USD). They do not support GBP when selling a name.
To convert USD in to other foreign currencies they seem to use a company called Tipalti. You will see a tiny link to their payee agreement on an e-check confirmation.
However in the @godaddy control panel you can see the conversion FX fees:
Here are three recent examples:
19/05/2024
Price Agreed: $3,700 USD
Amount paid out: £2,816 GBP
18/03/2024
Price Agreed: $45,000
Amount paid out: £34,570 GBP
13/12/2023
Price Agreed: $6,500 USD
Amount paid out: £5,006 GBP
Only if you use something like XE.com to convert USD at the exchange rate at the time can you see how much they are taking.
Note: On the most recent example I even tried to increase the USD sale price to get £3000 and they still took £184 extra, lost in FX conversion!
Some people (Godaddy?) will say why don’t you get paid in dollars? Simple answer to that one is we live in the United Kingdom and the company pays UK VAT.
Maybe when they attend the Domain Summit we can all persuade them to support selling names in GBP ?
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