There is always a bit of confusion around multi-currency that causes
questions. In the majority of online stores in Australia the only
usable currency is Australian Dollars. Some might allow you to display
alternative currencies but when paying the credit card will show
Australian Dollars. Some overseas online stores will also have
multiple currencies but be careful as settlement is often in a foriegn
currency at what ever exchange rate was set on the day the transaction
hit you credit card.
There are services like Dynamic Converter (www.dynamicconverter.com)
which can be added to your store which will allow prices to display in
different currencies.
The way that currencies are settled through your payment system
depends on the system you use and your banking arrangements. Most
payment systems will charge a fee to accept and settle in multiple
currencies. When you settle in a different currency you must have a
banking arrangement that allows you to deposit that currency. If not
it may be converted at a bank rate and you may also be charged a fee
to use a foriegn currency.
Unless you are specifically targeting another country for your website
and products then just use Australian Dollars. We do get buyers from
New Zealand and the same rules apply. In general showing a different
price might look great but it may not in any way align with the end
price paid by the consumer in their own currency.
For Australian and New Zealand store owners you need to check with
your payments provider and your bank.
If you are an eCorner customer and want to show and settle in a
foriegn currency then we can help you set up the currencies correctly
and also suggest some payment providers who will handle foriegn
currencies.
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