Gamefound currency conversion - how to use it to pay for a pledge?
Using Gamefound currency conversion allows you to pay in your local currency on favorable terms. If you choose our currency converter, you'll see the price with no hidden processing fees. The price we show is the price you'll pay for the products in your cart. We use the recent ECB fx rate +2.3%.
How does it work?
The prices set by the creator in the project currency are fixed and are the base for the conversion. The price you pay depends on the latest currency rate.
Once you back a project that is run in a currency different than the currency of your card, your bank converts the payment to your local currency, adding a fee. The fee may be either added separately on top of the payment or included in the currency exchange rate. The foreign currency transaction fee depends on your arrangements with your bank. For some cards, it may even exceed 5% but can be much lower, for example, if you use a travel card with special foreign exchange terms. In order to eliminate the uncertainty that the backer may experience once trying to arrive at the exact amount that will be charged by his bank, Gamefound negotiated preferable foreign exchange conditions with its payment solutions provider. You can now easily choose to pay with your local currency, and Gamefound will translate the amount you need to pay using the most recent daily ECB fx rate with a competitive markup of 2.3%.
We'll display all amounts in the currency you choose. At checkout, you'll see the price to pay for your order (please remember that usually shipping costs aren't added at crowdfunding and late pledge stage - they will be added in the pledge manager). You don't have to use our currency converter, you have a choice on how to pay for your pledge.
Gamefound currency conversion allows you to pay in your currency and see the actual amount you'll pay. Remember that the price depends on the current fx rate. The creator will receive the payment in the project currency.
You can choose the converter at checkout. The converted option will be selected by default only if you change the displayed currency at the top of the project page.
NOTE: Some financial institutions may still apply foreign transaction fees depending on the arrangements with your bank. These are beyond Gamefound's control.
At this moment, we support 13 currencies: USD, EUR, GBP, CAD, CHF, PLN, NOK, AUD, SEK, DKK, SGD, HKD, NZD.
We'll use the same rate as when you paid for your pledge in a refund so that you won't lose any money due to rate fluctuations.
For example, if the project currency is in EUR and the backer wants to pay in USD:
Pledge value = 100 EUR
ECB FX rate: 1 EUR = 1.0711 USD
FX rate used to convert the payment = 1.0711 * (1 + 2.3%) = 1.0957
The Backer’s card is charged with a fixed amount of 109.57 USD (100 EUR * 1.0957)
If a refund is for a EUR 10 add-on, the backer will receive back 10.69 USD (10 EUR * 1.0957)