Global currencies and payments for Zoom Events
Answers to some of the most frequently asked questions about global payments can be found below.
Read common questions about:
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Which countries and currencies are supported by Zoom Events?
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How to accept international payments/currencies?
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Are there international fees?
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What are the cross-border fees?
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PayPal
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Stripe
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What are the foreign exchange fees?
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Hosts
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PayPal
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Stripe
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What is a foreign transaction fee?
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How are tickets purchased in a foreign currency refunded?
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When do I get my funds?
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PayPal payout schedule
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Stripe payout schedule
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Do you cover international taxes?
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How do I update my company’s tax-exempt information?
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Which countries and currencies are supported by Zoom Events?
Country | Currency |
Argentina | USD |
Australia | AUD |
Austria | EUR |
Belgium | EUR |
Brazil | BRL |
Canada | CAD |
France | EUR |
Germany | EUR |
Hong Kong | HKD |
Ireland | EUR |
Italy | EUR |
Netherlands | EUR |
New Zealand | NZD |
Portugal | EUR |
Singapore | SGD |
Spain | EUR |
Switzerland | CHF |
Sweden | SEK |
United Arab Emirates (AE) | PayPal – USD Strip – AED or USD |
United Kingdom (UK) | GBP |
United States (US) | USD |
How to accept international payments/currencies?
You will need to make adjustments in your PayPal account dashboard in order to be able to accept international payments/currencies. Please take a look at this PayPal support page if you need help with making these adjustments. There are three options available to you in this regard:
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Regardless of the type of payment you are receiving, PayPal will convert the currency to the country’s currency and send it to you immediately.
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You will be unable to fulfill the order of the customer if you deny the payment.
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Initially create a holding account in the foreign currency of your choice and accept all international payments/currencies.
Here is a link to PayPal’s support page which has more information and detailed instructions. In the section below, you will find a list of fees associated with accepting foreign currencies, as listed in the following section.
Are there international fees?
In order to process transactions internationally, Zoom does not take any direct fees from the customer. The downside to operating in a foreign country and in a foreign currency is that there are costs involved.
What are the cross-border fees?
PayPal
The Host may charge a cross-border fee (depending on the country originating the Attendee’s payment method) if the Attendee’s payment method originates in a different country than the Host’s country.
Example: If a US-based Host sells a ticket (tickets) in USD to a UK buyer (Attendee), then this US-based Host would charge the UK buyer 3.49% + $48.39 (normal processing fee) + 1.5% (cross-border fee).
Stripe
The Host may charge a cross-border fee (depending on the country originating the Attendee’s payment method) if the Attendee’s payment method originates in a different country than the Host’s country.
Example: In the event that a US-based Host sells a ticket in USD to a UK buyer (Attendee), then the US-based Host’s fee schedule would be: 2.9%+$0.30 (normal processing fee) + 1% (cross-border fee).
What are the foreign exchange fees?
Hosts
PayPal
There is a foreign exchange fee that will be charged if the PayPal business account accepts payments in currencies other than the account’s registered currency.
Example: The fees may be as follows if a host that has its head office in the USA sells a ticket in EUR to a UK buyer (attendee): 3.49%+$0.49 (the normal processing fee) + 1.5% (the cross-border fee) + 2.5% (the foreign exchange fee).
Stripe
If the Stripe account accepts payments that are made in currencies other than the account’s registered currency, the Stripe account will be charged a foreign exchange fee for those payments.
Example: For example, if a US-based Host sells a ticket in GBP to a UK buyer (Attendee), then the US-based Host may charge the following fees: 2.9% plus $0.30 (normal processing fee) + 1% (cross-border fee) + 1% (foreign exchange fee).
Attendees
As a result of the fact that an Attendee may need to pay a foreign exchange fee when they purchase a ticket that is sold in a currency that is different from what their credit card was issued in, the issuer of the attendee’s credit card may charge the attendee a foreign exchange fee.
What is a foreign transaction fee?
Foreign transaction fees (FX fees) are surcharges that appear on the credit card bill when you make a purchase using your credit card that passes through a foreign bank or where the currency used is another than the U.S. dollar (USD). It is common for many credit card issuers to charge a fee for this service, typically between one percent and three percent of the purchase amount.
How are tickets purchased in a foreign currency refunded?
It is important to keep in mind that the exchange rate of foreign currencies fluctuates on a daily basis. As soon as an Attendee requests a refund for a ticket that was purchased in a foreign currency, those tickets will be refunded in the currency of the Attendee’s local currency, and the Attendee will receive a refund for the exact amount they paid in their local currency. Hosts may be required to pay out more or less than the actual value of the ticket because of this guarantee to the customer.
Example: A Host whose registered currency is USD sells tickets in USD according to the Host’s registration currency. Attendees have the option of purchasing the event in EUR instead of USD. An Attendee purchasing a $10 USD ticket will pay €9.00 EUR for the ticket if the currency exchange rate on the day the Attendee purchases the ticket is $1.00 USD is equal to €0.90 EUR on that day. In the event that the Attendee requests a refund several days later, when the currency exchange rate is then $1.00 USD to €0.85 EUR, the Attendee will be refunded the €9.00 EUR he or she purchased the ticket for, but due to the change in the currency exchange rate, the Host will refund $10.80 USD—$0.80 more—due to the fact that USD has lost value to EUR since the original ticket purchase date.
When do I get my funds?
PayPal payout schedule
PayPal has a payout schedule of three to twenty-one days, which is the same as the payout schedule for American customers. Here is a link to an article on linking PayPal to your website.
Stripe payout schedule
It is important to note that Stripe’s payout schedule depends on the location of the Host.
In the case of Australia and the United States:
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Event: The funds will normally be deposited into your bank account 7 days after the event has ended.
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Series: You will generally receive your funds approximately seven days after the end of the event in your bank account.
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Conference: You will generally receive the funds within 7 days of the event’s conclusion in your bank account.
For Australia, Austria, Belgium, Brazil, Canada, France, Germany, Hong Kong, Ireland, Italy, Netherlands, Portugal, Singapore, Spain, Switzerland, Sweden, United Kingdom:
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Event: Your bank account is usually credited with funds 8 days after the event has ended.
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Series: Once an event has finished, the money will be transferred to your bank account approximately 8 days later.
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Conference: You will normally receive your funds eight days after the event has concluded. They will be deposited into your bank account.
For United Arab Emirates (UAE):
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Event: It is usually 7 to 10 days after the event that funds are deposited into your bank account.
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Series: Once the event is over, the funds are generally deposited into your bank account 10 days after the event has ended.
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Conference: After the event has ended, the funds will normally be deposited into your bank account within 10 business days.
Do you cover international taxes?
Depending on where you are located, you will be charged taxes and VAT on your purchase.
How do I update my company’s tax-exempt information?
During the onboarding process, you are able to include the tax-exempt status of your company. The information you provide during the onboarding process can be updated in the billing settings of your account if you do not provide it during the onboarding process.
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