Exchange rate on purchases of Neat Image

themarc · Post by **themarc** » Mon Oct 01, 2007 11:14 pm

Are purchases in Canadian Dollars at par?

Post by **NITeam** » Tue Oct 02, 2007 12:14 am

The rate depends on market fluctuations and on the conversion rate of the bank used by our seller - SWREG, Inc. You may want to make a payment in US$ to avoid any conversions.

Vlad

themarc · Post by **themarc** » Tue Oct 02, 2007 3:14 am

Understood Vlad.

What was it today is all I need to know to give me a general idea?

Thanks!

Post by **NITeam** » Tue Oct 02, 2007 7:58 am

I do not have the precise figure but if you start to place an order you will be able to select the currency and then you can compare the price in Canadian and US dollars.

In any case, US$ goes down, so you can buy our products for less.

Vlad

themarc · Post by **themarc** » Tue Oct 02, 2007 8:09 pm

Hi Vlad,

Current exchange rate is as follows:

................................................10/1/2007------9/28/2007

U.S. Dollar / Canadian Dollar-----1.0069----------1.0063

Canadian Dollar / U.S. Dollar-----0.9932----------0.9937

(Today may be even higher for the CAD)

On this day you are charging 62.79 CAD for Neat Image Pro (Single User) noted at 59.90 on your site. Various exchange rate information sources will have slight variances, but this is outside of reasonable limits. Consider a more accurate source from the one being used currently to determine your rate of exchange.

Your customers will appreciate it, you have a fine product.

Be aware that recent exchange rates have been hovering around par and on some days the Canadian dollar has been higher than the US dollar.

Thanks again for your prompt responses and support.

I hope this helpful insight that may be of benefit.

Post by **NITeam** » Tue Oct 02, 2007 8:21 pm

Hi,

Thanks for the info but it is not us (Neat Image team) who determines the exchange rates, it is the bank used by SWREG (our transaction processor). Banks tend to add their margins to currency conversions, I believe it is another example of that. Unfortunately, I am in no position to tell SWREG (or their bank) which exchange rates to use.

I will check this with SWREG to see how they (their bank) get these rates. In any case, thank you for checking.

Vlad

themarc · Post by **themarc** » Tue Oct 02, 2007 9:41 pm

Yes, I noticed the e-commerce processor.

I'm sorry you feel this is not within the control of the Neat Image Team.

It seems that not all customers are treated the same.

The US customer pays dollar for dollar.

Outside customers further subsidize the e-commerce service provider with unfair exchange rates. You should negotiate a "flat fee or % per transaction" and exchange rates should reflect the market. Assuming there are cost associated with the exchange, up to 2% percent might acceptable, not 4.65%.

The e-commerce service provider's business practice is questionable at best.

Your customer's deserve better. This can be rectified if the will is there.

I did purchase your product today.

Thanks Vlad it's been engaging. I appreciate your willingness to listen.

Have a great day!

Post by **NITeam** » Tue Oct 02, 2007 10:07 pm

Marc,

Thank you for the reply. I agree with you, they take more than a typical 2% FX margin. And it seems not only SWREG does that. I have just checked another similar processor and they also take about 3.9% on top of the price for foreign exchange operations. It is not clear whether it is the processor itself or bank. I will try to find out that.

BTW, thank you for becoming a registered used of Neat Image!
Thank you for supporting the product and its further development.

Kind regards,
Vlad