CCBill conversion rates 5% less than market conversion rates

[AngelAfterlife]

I've been writing CCBill for an explanation but I keep getting copy-pasted dismissal messages, so I am inquiring here.

Last week for the first time I checked the conversion rate for a single transaction with the actual market rate and found that CCBill showed the final charge 5% less than it should be.

EUR subscription 24.95?
Time: 2012-05-25 03:37:23 PM MST
USD Paid [$29.77]

29.77 / 24.95 = 1.19318 CCBill Conversion Rate

Market Conversion Rate: 1.25170
Time: 2012-05-25 21:30:00 UTC
http://www.xe.com/currencycharts/?fr...to=USD&view=1M

Market Conversion:
24.95? * 1.25170 = $31.23

Difference %
$29.77 / $31.23 = 95.325% Charged from actual conversion

Difference $
31.23 ? 29.77 = $1.46 less Charged from actual conversion


Has anyone else noticed this? Is this a standard bank conversion fee before CCBill? Any insight would be great. As usual, trying to get an answer from CCBill support is like pulling teeth.

[Mutt]

you're suspicious CCBILL is pocketing some of that 5% discrepancy for itself?

pretty sure in the CCBILL Admin you can set the foreign currency exchange rate/price yourself or just accept CCBILL's.

[AngelAfterlife]

Originally Posted by Mutt

pretty sure in the CCBILL Admin you can set the foreign currency exchange rate/price yourself or just accept CCBILL's.

There is a big difference between CCBill PRICE exchange and CCBill CURRENCY exchange.

CCBill's PRICE exchange is simply changing the price of a membership to suit the local economy, this changes once a week. For example CCBill changes a $24.95 US signup to 24.95? for EU signup.

There is no one person or company that can change the foreign currency exchange rate. This is decided by the whole of market trading and changes by the minute:
www.xe.com
For example a 24.95? EU membership sold Monday will yield a different USD amount from the same 24.95? EU membership sold Friday, the exchange rate has changed and the money must be exchanged at the current market exchange rate.

CCBill's CURRENCY exchange is consistently 5% lower than the Market exchange rate.
CCBill's current EUR/USD exchange rate is around 1.19
The current market exchange rate is around 1.25
I'm interested to know why

Originally Posted by Mutt

you're suspicious CCBILL is pocketing some of that 5% discrepancy for itself?

I don't know. I have tried simply asking CCBill why this is, and they will not give me a straight answer.
I want to know where the other 5% went.

[pornguy]

Where is it that you are finding your " Market Rate" ? Remember that CCBIll even gets the market Rate from the Bank and the Bank never gives you or them the Real " market rate " it gets shaved for some profit by each one.