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This article will teach you how to change the currency settings in your FastSpring store. You can decide whether to set prices using only United States Dollar (USD) or to set prices using USD and the 20 other international currencies that FastSpring supports. Note: You must set a USD price for all products.
FastSpring's currently supported international currencies include:
You can change currency settings by going to SpringBoard's Store Home » Store Settings. Click on the Payment Methods tab.
Scroll down to the Currency Settings. Here you can select which currencies to display in your FastSpring store.
When a currency is not checked under Active Currencies, customers will be shown an estimated price in their local currency, but when they check out, they will see a note that the price is just an estimate and that the actual charge will be in USD.
When a currency is checked under Active Currencies, you get the option to define a fixed price in that currency. If a currency is checked, but a fixed price is not set on the product, the system will use the default currency price (and the exchange rate at time of purchase) to provide customers with a price in that currency, allowing the customer to see exactly what it will cost before checking out.
Note: Although ZAR is an available currency, we do not recommend selecting it as an Active Currency because PayPal does not support it currently and therefore enabling it effectively removes PayPal as a payment option for customers in South Africa.
Multiple Display Currencies
If you have enabled multiple real currencies, these options will let you decide whether your store will perform currency conversion estimates into your customers' local currencies. Note: If you have already entered the specific currency of your customer on your product page, for example EUR, no conversion estimate will be performed.
Real Currency Display Only
If a fixed price in an international currency is set on a product, then this price will be displayed to customers. When the detected locations for customers are in a country whose currency has not been checked in Active Currencies and set on a product, this option will not convert currencies and the customers will see the price in the default currency set on your store. By default, the default currency in your FastSpring store is USD, but you can open a support ticket and ask for your default currency to be set to EUR, GBP, CAD, AUD, or JPY.
Estimated Display Currency Allowed
If a fixed price in an international currency is set on a product, then this price will be displayed to customers. When the detected locations for customers are in a country whose currency has not been checked in Active Currencies and set on a product, this option will convert currencies and the customers will see an estimated price, based on real-time exchange rate estimates that have been converted from the default currency set on your store. They will see a note that the price is only an estimate and the actual charge will be in USD. By default, the default currency in your FastSpring store is USD, but you can open a support ticket and ask for your default currency to be set to EUR, GBP, CAD, AUD, or JPY.
Setting Fixed Prices in International Currencies
When setting up a product, under Product Pricing you can enter in the fixed prices for any Active Currencies (shown below on the left). After a product is created, you can add fixed prices for any Active Currencies by going to Products and Pages. Select the desired product. Click Edit Price. Click on the Price shown and enter the fixed prices (shown below on the right). If a fixed price is not entered, we will calculate the price in that currency based on the current exchange rates.
You can also add fixed prices to all of your products at one time by going to Products and Pages. Click Edit Prices and enter in the fixed prices for some or all of your products. If a fixed price is not entered, we will calculate the price in that currency based on the current exchange rates.
Note: If you are located in the EU, you may need to enter fixed prices in international currencies with a comma rather than a decimal point. For example, a price of €39.95 may need to be entered as €39,95.
Currency Conversion Calculator
SpringBoard offers a currency calculator for setting fixed international currency prices, showing real-time exchange rates and +5% and +10% calculations for each. Using the +5% to +10% values is sometimes recommended over the actual conversion to account for potential currency fluctuation and to cover possible exchange fees. This calculator can be accessed via the small calculator icon to the right of specifying the fixed currencies.
Note: The currency calculator will only display the currencies you select for Active Currencies in Currency Settings.
EU VAT Pricing Options
The European Union value added tax (VAT) is automatically collected for the sale of your products to customers in Europe. The Net Pricing Mode is VAT exclusive so you will always receive the same price for the sale of your product regardless of the percent of VAT in the customer's country, while the Gross Pricing Mode is VAT inclusive so the price you receive for the sale of your product will vary based on the percent of VAT in the customer's country.
For example, suppose a customer were in a country with a 20% VAT and your product was priced at € 100. The Net Pricing Mode would display your product for € 100 + € 20 VAT, for a total of € 120, and the sale price of your product would be € 100. The Gross Pricing Mode would display your product for a total of € 100 (€83.33 of which would be the sale price of your product and € 16.67 of which would be for amount for VAT). The VAT collected from the customer goes to the respective government. Customers can enter a valid VAT ID during the order process to be exempt from VAT.
Additional Country Specific Pricing
As an advanced option, FastSpring also offers the ability to define country specific pricing for situations when you need a specific currency for a given country or countries. For example, we can make it so France, whose currency is Euros, has a different price than Spain, whose currency is also Euros. Another example would be to offer a cheaper price in tier 3 counties.
We're Here to Help
If you need assistance with currency settings or have a specific situation related to product pricing, please open a support ticket.