Stripe Connect Question - Multi currencies
Sorry if this has already been answered.
I started a company where I have customers in different countries and suppliers mainly in Hong Kong.
I used Stripe Connect - Platform (10% fees, which covers card fees, conversion fees, and my gross margin). Now I am all mixed up with the conversion fees and default currencies, etc.
I charge (on_behalf) the customers in USD and payout the supplier using their bank account currency.
Issue #1 : it looks like my suppliers in Hong Kong are unable to add a bank with a USD currency. It defaults to HKD...which eats my margins.
Issue #2 : When I payout in HKD...it converts my platform fees into HKD, which incurs another 1% conversion fee. On top of that ... I am unable to convert it back to USD.
My plan is to offer my services across North America, Europe, Australia and Japan...which means I'll always have a conversion fee when we charge a customer...but how can I limit the amount of fees and also get my platform fees in USD...
I think I'll only charge customers in USD & EUR which makes it simple for my suppliers to maintain their price list.
Thanks in advance, I am an amateur so sorry if missing anything.