Leveraging Stripe & Transferwise when charging in different currencies

Henry Mathias
Leveraging Stripe & Transferwise when charging in different currencies

In my experience, most saas companies operate only if their native currency, outsourcing the problem to the customer. The customer then is initially detered by paying in a different currency to their own, and we don't want that.

The best way to migate this to use both Transferwise's Borderless Account & Stripe. Before I tell you how, let me show you some numbers to prove it.

Example: Charging in EUR, receiving in USD.

Using just Stripe takes 2% charge, using their own currency conversion, I get $117.60 in fees.
Resulting in $5,762.84

Using both Stripe & Transferwise
Resulting in $5,865.21

Total of $102.37 difference on a €5,000 payment.
Bare in mind, Stripe still takes a percentage on the payment.

Moving over

To get started, head over to Transferwise & sign-up for a borderless account.

Then enable all the curriences you wish to charge in Stripe's Payout settings by adding all the bank accounts that are available in Transferwise's borderless account.

Like so:

Using TillyPay.

TillyPay is a no-code solution built ontop of Stripe, allowing you to accept payments in the 132 curriencies that Stripe offers. We also offer custom domains, SCP compliance built-in and Zapier Integrations.