Dollar/Euro Merchant AccountsFrom Baz at GettyNet.com
on 16 April '99
I have set up a few ecommerce sites for companies based mainly in the UK, and for companies whose main market is the UK and Europe.
Now, as is to be expected really, a large number of visitors to these sites are american - who I feel are being put off from purchasing due to the sites using UK Sterling as their currency (the exchange rate not being in the UK's favour at the moment)
I am considering, now, whether Dollars (or Euro's) is the way to go - and was wondering if any other UK companies have gone this way, and the problems they encountered. I know I can setup a merchant account in the UK to handle transactions in Dollars (or Euros), but am worried more about how anyone shipping hard goods handled the exchange rate fluctuation risk, or come across any other problems (ie. excessive bank charges).
Or, should I consider incorporating shell companies in the US, and attempting to get a merchant account with a US bank - and then try and work out a cost effective way of getting the funds back over here?