An update on currencies

Hey friends :wave:

In case you missed the annoucement earlier this week - we’re so excited to let you know that you can now change your payout currency to Euros, US dollars and British pounds, meaning you’re getting paid the way you want, while also cutting out conversion fees for both you and your patrons.

For all our French speaking creators, we also just rolled out Patreon in French! Check out the new languages in your Profile Settings

Last but not least, we’re excited to announce that we now offer Merch for Membership to all monthly creators, in all supported currencies. Take the headache out of offering exclusive, physical rewards to your patrons and save money with flat rate shipping - your custom merch items are delivered hassle-free across the globe no matter where your patrons are.

You can learn more about our supported currencies, languages and global Merch support here.

As a reminder, the ability for all patrons to pledge in their choice of supported currencies will be enabled on Monday, October 5.

Here are some helpful resources for you:

We hope you’re as excited about these updates as we are! Let me know if you have any questions or feedback.

3 Likes

Hi @reyna !
I already have my patreon set so that individuals can choose their own currency. I’m wondering whether changing to GBP will affect what I get each month as I see that the conversion fees for them are different to dollars. I’m not good with numbers so can’t quite understand why it will be better for me if the conversions in dollars are smaller - do I just pay conversion at a later date when I go from Payoneer to my bank account, is that it?

Thanks in advance!

3 Likes

Question.

If we change our currency as creators (say from USD to Euro), do we need to re-define the value per each pledge?

And if so, does this mean our patrons will get kicked out of their pledges and need to re-subscribe (similar to when you do a price change on an existing pledge, all patrons get kicked off and need to re-subscribe)?

I want to be 100% sure about this before I make any changes. I always lose a patron or two when doing price changes, but not always because of an increase (I once decreased!) but simply because they forget or don’t want to go through the effort. My patreon is on slim margins as it is and I’d prefer to hassle my patrons as little as possible and focus on giving them quality content.

Also, when will Patreon as a company revisit the locked pricing/price book shenanigans? This is an unfair method to keep prices ‘stable’, where patrons on the same pledge will pay different amounts depending on when they pledge, and creators may be overcharging or undercharging depending on when a patron pledged. A much better method would be to treat conversion rates like any other online shop where the conversion rate at the date of purchase is the conversion rate used (this is what I expect as a shopper when buying anything in another currency), and patrons can have a dashboard with estimated prices.

Thank you,

2 Likes

Hey,

I’m Happy this possibility is available now, although there are some Bugs:

  • my Desktop official Site still shows me the tiers in “Dollar”, though my earnings are already in Euro (also on my intern Page) - & I emptied my cache etc .

Secondly, some Patrons wrote to me they got a “Welcome as a new supporter of” E-Mail after changing their support-currancy to Euro…very confused because they are of course not new & two even canceled & re-entered, thinking they are a Double supporter now.

Could that bei Changes, please?

Tini (patreon.com/Tini )

1 Like

Hey there @reyna, can I please get some clarification if switching to a new currency forces all of our patrons to need to re-subscribe (similar to them being kicked off/paused when we change the pricing on our rewards)? Thank you!

Hello @reyna

I’m still waiting desperately for an answer:

  • I have made new tiers with new Euro prices.
  • I unpublished all old tiers and changed the old USD prices to their equivalent in Euros.
  • And now it looks like the old patrons who stay in the old unpublished tiers but change to euros are STILL being charged the new prices from tiers they aren’t even in?

Unbenannt

I’m sorry I keep asking everywhere, but support sent me a canned response that didn’t even relate to my question and my patrons ask me questions I can’t answer.

If this isn’t solved, one way or another, I will have to pause the upcoming bill cycles until it is - which is a bit of a nightmare

1 Like

Hi @Katrin_Ils, so sorry for my delay. I’ve responded to your other post here.

You can always preview your tier prices in other currencies in the tier editor by clicking the preview link, to confirm your prices are being displayed how you want them to.

I hope this helps! Please let me know if you have any other questions, or send me a DM for a quicker reply.

1 Like

Hi @zelaphas, patrons will not have to re-pledge! This is the #3 “Key thing to know” :slight_smile:

@Tini are you still seeing your display price in dollars?
I also see how the welcome email is a confusing flow for existing patrons. I will inform the team that see if we can upate the messaging here. Thanks for letting me know!