slippery_squeaks
patreon
Currency Swapping from CAD, back to USD
🕑 Added 2021-11-18 18:11:21 +0000 UTCShort version: I'm updating my payout currency back to USD, as it was paying out in CAD over the past 6 months. Pledge amounts are the same. Nothing has changed and no action is needed.
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Long version:
Earlier this year I experimented with changing my Patreon's default currency from USD to CAD. This just means that your pledge was processed in CAD (Canadian dollars) instead of USD.
I did this back in May to see if there would be a noticeable effect on my payout balances & banking fees (given that I am using a Canadian bank)...and there wasn't a significant effect on my own banking fees by swapping to my native currency. In fact, given that Patreon is a U.S company, I paid 1.5x more in Patreon payout fees.
Good news for U.S patrons: For December, I'll be changing my Patreon's default currency back to USD given roughly 75% of my patrons are based in the U.S.
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If you *ARE* U.S-based, this will result in saving between a couple cents (for small tiers) to a couple dollars (for higher tiers).
If you're *NOT* U.S-based, you won't notice anything different.
If you're *CANADA* based, you may notice your pledge is a couple cents (for small tiers) to a couple dollars (for higher tiers) more. This will really depend on your payment processor (like your credit card).
The above isn't new, as I've had my Patreon currency set as USD all the while, save for the past 6 months.
That's all! Nothing needs to be done on your end.
