Show HN: I built a tool to show how much ARR you lose to FX fees
a day ago
- #Multi-currency Accounts
- #FX Fees Optimization
- #Revenue Savings
- FX fees can be incurred twice on business income and expenses, costing founders significant revenue.
- Using a multi-currency account with Stripe allows receiving payments in original currencies, avoiding Stripe's 1-2% auto-conversion fee.
- Paying foreign expenses directly from multi-currency balances eliminates bank FX spreads, potentially saving up to the calculated annual amount.
- Conversion fees are minimized to around 0.4% only on net profits converted to the home currency.
- The FixMyFX calculator estimates savings by comparing current setups with optimized multi-currency account strategies.