Please let us opt-out of multi-currency rollout

Hello,

I would like the ability to opt-out of accepting multi-currency payments. (I received an e-mail indicating that in the coming weeks, patrons will be able to pledge in their local currencies.) Here are the problems as it stands:

  • Inevitably, some patrons will be paying more than other patrons as currency values fluctuates back and forth. This will become a massive accounting headache for us if the EUR/GBP tier price drops below the equivalent USD tier price since our software will see the user as having underpaid (and they did.)
    • We rely on total_historical_amount_cents field to determine how much the patron paid in USD each month, and grant rewards appropriately. One possible workaround is to fuzz the values (ie recognize $9.50 instead of requiring a full $10), but that opens us up to people intentionally pledging less to get a stealth discount. Especially since we’d have to do that across all regions, even US, since the API is dead and there likely won’t be a new field to hint to our software that it’s EUR or GBP payment, so we can’t limit fuzzing to only non-USD prices. Plus, fuzzing will break as soon as currency conversion swings too greatly below USD rates.
  • Updating our software becomes risky since the API is no longer supported, and there’s no documentation or support to help us along this conversion. It’s unclear how we need to workaround this change and no one is available to support us.
    • IE, does total_historical_amount_cents always reflect the converted amount in USD? If not, how does my software know how much I actually got paid since currency conversion rates change moment to moment?
  • The current system is more clear to the user where the revenue is going – users can see the bank is charging that fee instead of it going to the creator.

The existing system works fine for us, requires no new code, and is fairer to all patrons since the cost auto-updates instead of becoming unsyncronized across regions. Thus I am requesting an opt-out button in the creator settings before this change takes effect.

16 Likes

I agree with everything above, I would also like this opt-out.

I think it is also WAY too soon to do this after the recent tax hike.

2 Likes

I never thought I’d say this but I agree. I’m in the UK so was looking forward to being able to charge in GBP, however what you have pointed out isn’t something I’d thought of at all (really not great with numbers myself). I would also like to opt out and also as Geoff has said too, WAY too soon to do this on top of the tax raise.

Totally agree,

I would also like to opt-out it. It’s too soon, because of the tax price rice.

Hey folks,

Thanks so much for taking the time to provide your feedback!

I’m happy to confirm that in order to ensure the smoothest transition possible for existing creators and their patrons, we will not automatically turn currency choice on for you. Instead we will give all existing creators the ability to opt-in over the course of two months, from Aug 5 to Oct 5. Then on Oct 5, we’ll enable it for everyone.

To ensure a seamless transition for developers using the Patreon API to give access to benefits, we’ve made some updates to help build currency-aware functionality on top of both APIv1 and APIv2. For more information on the new attributes and what steps to take, click here. In order to prevent any disruption to your audience and patron experience, we recommend updating your integration before the end of September.

Instructions on how to opt into multi-currency will be provided in our Help Center when we launch this feature later in the week.

Hope this helps provide some comfort and clarity! Let me know if you have any questions.

1 Like

I was really excited to hear about the currency choice for creators, but disappointed to hear patrons will be able to choose a different currency than my choice, forcing me to pay an extra fee for currency conversion.

Since we cannot change the prices for published tiers, this change is another thing taking a bite out of my earnings and I’m not happy about it. It’s especially problematic for creators with physical reward tiers. On July 1st all packets to the US have gotten a lot more expensive (due to UPU’s “Option V”) and we’ll see another hefty increase to shipping prices on January 1st when all countries can change their inbound “last mile delivery” fees.

If I now have to eat an additional currency conversion fee, on top of fluctuating pledge values that may fall below the actual tier price due to how your price book works (+ what’s keeping someone from repledging when your price book changes in their favor?) on top of inflation, increased production cost etc. some tiers I’ve had for years, will no longer be sustainable.

My earnings go to Paypal in USD. My expenses are in USD, EUR and GBP. I already pay currency conversion fees for a lot of my expenses. I would welcome the option to charge my Patrons & be paid out in Euro’s, but I do not like having to pay currency conversion fees on pledges in different currencies and then again when I spent that money. It adds up.

I’d rather keep everything in USD if that’s going to be the case and encourage my patrons to pledge in USD… Semi-related: please give us the option to adjust tier prices once a year and give patrons an option to accept the price increase or cancel their pledge. I know the majority of my patrons would gladly pay a couple bucks extra.

3 Likes

You are basically saying we won’t turn it on automatically until we do. Obviously Patreon can handle having it on for some and off for others. Why is this not our choice beyond October?

2 Likes

Patreon mistakenly believes patrons are their customers. They are not. The customers (the ones who pay the fees) are creators. Without creators, Patreon has nothing to offer patrons.

8 Likes

Well said.

3 Likes

I’m gonna have to say that I guarantee Patreon will realize when it starts losing creators faster than it already is they’ll put in an opt out option.

Personally, I NEED to be able to opt out. What meager income I get from Patreon is the only way I’m paying my bills right now. During a pandemic when a lot of people only have Patreon as a source of income is just greedy.

LET US OPT OUT.

3 Likes

Let us opt out. The exact thing I predicted is happening – I’m trying to update my integration to be compatible with the new multicurrency rollout, and I’m stuck with no assistance. Trying to ask Patreon support a simple question that should be somewhere in the doc just results in a form letter about not supporting the API.

I cannot describe how utterly frustrated and disappointed I am in Patreon’s senior management at how bad they’re fumbling this. API should be something that multiplies the usefulness of Patreon. Your competitors recognize it and advertise more robust APIs on their home pages. WTF is my monthly patreon fees going if three years of fees can’t buy 10 minutes of a dev support engineer’s time to answer a question (that should already have an example in the docs).

3 Likes

I share the same sentiments. I was excited to finally be able to charge and earn in Euros, but the rollout is going to be a disaster. My patrons are about half/half US and EU based, many of whom get rewards shipped to them. I was already operating on threadbare margins but this whole ‘locked pricebook’ thing is a joke. Patreon’s own graphic shows that some patrons will pay more or less than others based on when they joined…what!? And I as the creator will either be undercharging (giving stuff for free) or overcharging (being an unfair vendor) depending on when people join and how long they stay. And you’re now also saying that we can’t change our prices when the currency conversion changes? I lost one or two patrons (and I already have few) the last time I needed to change my pricing tiers and ask people to re-pledge for one or two tiers, if I’m going to have to change the entire thing and get my whole community to re-pledge there’s going to be a ton of people who fall through.

I’m investigating Ko-Fi as an alternative, since although they don’t have tiers, you can still have subscribers in your own currency and charge what you want.

2 Likes

Hi, @reyna, did this roll out? Is there any way to disable multi-currencies? I don’t want to pay extra fees of 2.5% every time someone pledges in another currency, please