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February 23rd, 2004, 08:57 AM #1
Has anyone worked out if this new International aspect to CJ is (as I suspect) a cosmetic change that simply displays the underlying (presumably US$) amount in a different currency ... or is there any material change in the ways and places CJ is holding its cash?
I'm sure a lot of people will feel more comfortable seeing reports and being paid in their native currency, but some of us have gotten used to counting and spelling in American, and are more concerned with if/how this will affect what we get paid.
The bottom line is: if we earn $1000 commissions, will our choice of account currency make any difference to how many ££s (or other units) that $1000 ultimately translates into?
Are you Crazy?
February 23rd, 2004, 09:32 AM #2
- Join Date
- January 18th, 2005
I'm sure I saw somewhere that the international amounts are displayed at the exchange rate for that day.
So presumably it is just a $ amount displayed as £ at the current exchange rate.
It's the exchange rate that's stuffed you and me up.
February 23rd, 2004, 09:58 AM #3
If you migrate to GBP or Euros and generate commissions in the same currency, there is no exchange rate with the new foundation. Earn a Pound, get paid a Pound.
February 23rd, 2004, 12:23 PM #4
Earn a Pound, get paid a Pound
So far so good - and not a bad basis for any business relationship But the common situations will be more complex than that.
Currently, we have a mixture of UK and US based merchants in our US$ CJ account. As SevetiesMartin says, the exchange rate is currently crucifying us and we're trying to increase the proportion of UK sales through UK based merchants. But it won't ever be all one or the other.
So what do you suggest is the best course in this mixed currency situation?
I can't decide because I don't think I have all the info. In the current situation I don't know how much (if at all) we lose out because I don't know the basis of the calculations (exchange rates and/or fees). I'm guessing we lose out at least once (when the dollars get coverted to pounds to pay us - a bank rate) but possibly twice (when the pounds purchase price and commission get converted into dollars for reporting - a CJ rate?).
Will CJ be publishing the rates for converting between currencies?
Is it an option to have a separate account per currency?
Are you Crazy?
February 23rd, 2004, 01:09 PM #5
There will always be some risk in converting commissions from one currency to another. Sometimes it will work in your favor and sometimes it may work against you. In the end, it may all be a wash. You will have the option of having two or more accounts and setting up each to partner with advertisers for tracking and reporting in the same currency. It may create more work than it is worth if you log into multiple accounts to manage the various relationships. You will also not be able to compare relationships via the reporting since the revenues and commissions will be different.
The choice is yours. Choose whatever makes the most sense for your business. You may try working in GBP or Euros first and then see if it makes sense to create a second account.
I don't believe we plan on publishing conversion rates.
February 23rd, 2004, 01:39 PM #6
Thanks - but I'm not sure how we can make decisions without all the info.
It seems to me the calculation is a function of the balance between business volume in each currency and the rate at which each currency would be exchanged. That exchange might be made by my bank or by CJ depending on which currency we choose to have native.
We can monitor the bank rates, but it seems strange that CJ is entering this brave new multi-currency world without being open about the exchange rates it will be using.
This may seem petty, but believe me, you don't have to work in multiple currencies for long before you become acutely aware of the impact of exchange rates upon your business. Even banks have a fairly wide range of different rates in operation at any one time, so the CJ rates could be an important element in this mixed economy model.
Are you Crazy?
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