Is it possible to have USD payments deposited in my account directly without having currency conversion inside Pin? My bank account (Citibank Australia) tends to be significantly cheaper when depositing in USD than when gateways convert and charge their own conversion fee.
I know nothing about Pin's business model, but I bet the answer is "No" - in most processors like this, foreign exchange is what actually makes the profit for the company.
The $50/$0.30/3% you pay will cover expenses and make a bit of money, but the margins are pretty tight on that part of the transaction - it's all the FX leveraging/charging they do with your non-AUD income that actually makes the company viable.
If I'm reading https://pin.net.au/pricing correctly, they're charging four percent extra for conversion, which sounds like it means they end up costing 7% + 30c for payments in USD.
Not sure why they need to do that, AUD/USD forex is something like .1 of a percent given a high enough amount if I recall correctly. I am probably missing something.
