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Trouble as a Canadian (7)

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Hi everyone,

Just sort of ran into a potential problem as a Canadian Affiliate.

I notice that all these tools and websites we use for AM; networks, sources, STM, any tools, are all in USD.

I'm one of the unlucky few NON-US residents that does not have access to a USD credit card.

I don't want to have to eat unnecessary exchange fees and other rates in the pursuit of AM.

Is anyone else having this problem and has a solution / way around it?

Thanks

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I'd recommend just charging things to a non-US card and eating the fees, unless they're huge. Sure, there's a small exchange fee, but that's the cost of doing business. And it'll usually be in the low single figures - in the UK it's around 3%.

Once you get bigger you can set up a USD bank account for simplicity, but if you're still doing relatively small spends I wouldn't worry about that to start with. Obviously if you're already at the $10k/day stage that's a different story

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Just open a USD account. Most banks have that option available (including mine, CIBC).

So that will take care of the fees...

As for rates: If your camps are losing money, then losing that in USD will make the loss hurt worse; but when you're turning a profit, exchanging that back into CDN will make it sweeter.



Amy

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As you grow your campaigns, you will find that foreign exchange fees are just a cost of doing business. Most folks will be taking commissions in USD, Euro, AUD, CAD, SGD, HKD, and perhaps a few more currencies, most of while will come with FX fees.

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Thanks guys, i figured it would just come down to a "cost of business" stand point.

Just wanted to verify it for myself :]

Thanks everyone!

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Yeah, focus on growing your business and don't get too distracted by these things right now. I probably pay at least $10K a month on FX fees/bank transfer fees/payment processing fees.

It is just a cost of doing business.

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Just want to add: Having a USD account will help in the sense that you can do your own "forex trading", i.e. deposit when the exchange rates are in your favor.


Amy

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