but
there are many other similar services that haven't had the same type
of negative feedback, and I'm sure there is one that offers more
currencies with a similar or lower surcharge for monetary exchange.
- I don't know about their rates, but they
definitely accept more currencies than Paypal.
Mark
On Sun, 20 Feb 2005 23:23:48 -0500, Delirium <delirium(a)hackish.org> wrote:
Mark Williamson wrote:
The "hard realities of international
banking" should warrant the
exclusion of all currencies other than USD and EUR, should they not?
Why the 4 other currencies? What a drag.
You seem to be willfully dense here. We accept the other four because
it takes us no effort to do so. We use Paypal, and Paypal accepts six
currencies. There is absolutely no benefit to excluding four of them,
since they come by default as part of Paypal's service. Adding
additional currencies to Paypal, on the other hand, is rather difficult,
unless you happen to be on the Paypal board of directors.
Yuan RMB may not be "fully convertible",
but it's converted many times
every day anyways.
It is very difficult to do unless you are a multi-million dollar
corporation. There are controls on how and when Chinese citizens may
convert money to foreign currency, and even more controls on when they
may remove it from the country, and non-Chinese who visit the country
are only allowed to convert to foreign currency when they leave exactly
as much as they brought in with them in the first place (you must
produce the original receipts or they won't let you exchange the
CNY/RMB). Currency-exchange companies generally are not permitted to
deal in the currency, which is part of why companies like Paypal don't
accept it---they aren't allowed to.
You still have not pointed us to a credit-card processor that will
accept payment to a US-based company in CNY/RMB and convert it to
dollars, all for a relatively small fee (on par with Paypal's 3%). If
you would do this, it would make it much easier to begin accepting
CNY/RMB donations.
-Mark
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