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
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
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.
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
