Hi All,
Something that continues to perplex me is the currency issues I face each month with Redkings Poker (EGO, Ongame). All table play is in USD, all rake generated is in USD, affiliate statistics are in USD, yet affiliate payment is made in Euros.
Whilst I understand they are based in EU and operate in Euros, we the affiliate are losing out here quite significantly.
The currency
conversion rate (USD -> EUR) they use is a month low, so we are getting a very poor
conversion rate, even if you accept payment in Euros. If you have a USD account, you are paying
conversion fees twice.
This month, due to movement in currency markets, the amount I received in Euros was 8% less than what I was due on the day of payment, due to an earlier outdated exchange rate. I consistently lose a few % each month. Keep in mind that I am receiving payment in Euros, so the currency isn't being converted twice.
One suggestion is that we are paid the same day they are paid/make the
conversion, at the same rate, so that neither of us needs to absorb any currency risk. Naturally, this is assuming payment in USD isn't possible, which would naturally be the preferred option.
How do you guys combat currency fluctuations? I do not wish to speculate, I am in the affiliate business.
Further, I remember speaking with a few of you at CAP Euro last year who said they had arranged for payments in USD from Redkings/EGO. I can't remember who it was, if anybody is in this boat, would you mind kindly PMing me with details?
I am a huge fan of the EGO programs and their affiliate team and have a great relationship with their staff but this is really killing my margins here. Any suggestions?
Thanks in advance for any input!
UPDATE: This thread was moved at the request of the OP via PM.
Affiliate payment currency conversion issues (Redkings)
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