Paying $347.41 USD just to receive our money from chartboost :s

Discussion in 'Public Game Developers Forum' started by maccyfin, Aug 12, 2014.

  1. maccyfin

    maccyfin Active Member

    Jun 10, 2012
    41
    0
    0
    Hey all. We got paid from chartboost for May and June 2014. The total we made was $7790.15 USD, but we ended up paying about $347.41 USD just to receive the money in our account.

    This seems pretty big and I'm wondering if it's the same for others too.

    I did a detailed blog about the fees here:

    http://howtomakemobilegames.forumchitchat.com/post/paying-347-41-usd-just-to-receive-our-money-from-chartboost-huge-transfer-fees-august-7034579?pid=1283890225#post1283890225

    Can anyone give any recommendations on how to reduce this? Thanks for any help guys :)

    Martin
     
  2. ChaoticBox

    ChaoticBox Well-Known Member

    Oct 8, 2008
    878
    6
    18
    Male
    Developer
    Toronto Canada
    Yeah it usually makes sense to open a USD account to receive payments from Chartboost etc. Not sure about the UK, but here in Canada most banks have US dollar accounts, so there's no need to deal with an actual American bank.

    Banks will still ding you 1%-3% on conversions (as you've seen, you'll never get the actual interbank rate) but you can at least wait till the rate is more favourable or use a 3rd party exchange service.

    No avoiding that $25 Chartboost fee unfortunately. In my case my bank takes another $15 for themselves too :rolleyes:
     
  3. Destined

    Destined Well-Known Member

    Aug 11, 2013
    1,064
    0
    0
    You will never avoid currency conversion fees. Banks always have a buy and sell and you will notice there is a difference. Depending where you are moving the money can also have increased costs.

    I actually look at the fees you have paid and think that is pretty good and reasonable for that kind of transaction.

    For chartboost however paypal is a good option IMO. It is a fee of $25 max per 10K plus whatever it takes for you to get it out of paypal.
     
  4. maccyfin

    maccyfin Active Member

    Jun 10, 2012
    41
    0
    0
    Hey guys, thanks for the feedback on this.
    I might ask chartboost to send us the money in USD directly to our account int he future. Or send to our paypal directly.

    Thanks guys :)
    Martin
     
  5. TapTitanApp

    TapTitanApp Active Member

    Aug 13, 2014
    31
    0
    0
    unemployed
    NYC
    That is good money for a 2 month period, congrats!
     

Share This Page