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Old 09-17-2018
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Question Question about taxes

My shop currency is USD, but my bank account is in bulgarian lev (BGN).
So everytime when I receive money in my bank account, etsy sent me EUR (this is the default currency for my country) and than my bank convert this sum to BGN.
This double currency exchange low my profit twice. Once by etsy and second time by my bank.
Can I use payoneer or transferwise to receive money direct in USD?
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Default Re: Question about taxes

You can only link a proper bank account to your etsy so no, why not change your shop currency to Eur? Or if you can't do that raise all your prices by a small amount to make up for any loss of profit by currency conversion.
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Default Re: Question about taxes

Quote:
Originally Posted by HAHlala View Post
You can only link a proper bank account to your etsy so no, why not change your shop currency to Eur? Or if you can't do that raise all your prices by a small amount to make up for any loss of profit by currency conversion.
If I change it to EUR, etsy will add 5% fee to my orders

USD balance:
"Since you list in a currency other than your bank account currency, we will do a currency conversion with a 2.5% fee added to the current market rate. "

EUR balance:
"Your Etsy bill is in USD. Since your shop currency is not USD, when you sell an item, the 5% transaction fee is on the item price and the shipping price converted to USD at the time of purchase. Your listing fee is always $0.20 USD. Learn more."

and I don't know which one is worst in this case.
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