For International Merchants:
How does Route handle foreign currencies when pricing Shipping Protection premiums on my online store?
Route Shipping Protection will be displayed on your online store in the default currency that your store is configured in. The price will be automatically converted from U.S. dollars (USD) using a trusted currency conversion tool that calculates exchange rates in real-time.
Please note that the Shipping Protection premiums will always be reflected in USD in the Merchant Portal.
How do exchange rates come into play during the billing process, when Route transfers the Shipping Protection premiums I’ve collected?
Route locks the premium at the same USD amount during its entire lifecycle—from the price your customer paid for it at checkout to the time of weekly transfer the following week. The premium will be converted from your store’s default currency into USD at purchase, and noted in USD in the Merchant Portal. It will not be converted after that. Please note that we always bill in USD.
What about my invoices and other files?
These documents will always show your payments and reimbursements in USD. You can review your billing invoices to see the amount due in USD, including any credits (“applied balance”) from canceled orders.
How do conversion rates come into play in reimbursements?
Our reimbursement software, Tipalti, calculates reimbursements in USD first, and deducts any transaction fees and currency conversion rate fees (2.5%) from that value, also in USD. The remaining total will be paid out in your local currency.
Transactions fees will be deducted from your total reimbursement each week, and will be reflected in your reimbursement invoice. (Tipalti’s currency conversion fee is not reflected in reimbursement records.) You can download your invoice in the Merchant Portal, by going to the Reimbursements page in the Finance tab.
Are there any transaction fees for billing and reimbursements?
Unless your business has a U.S.-based address and a U.S. bank account, all international merchants must use a credit card for your Payment Account and either PayPal or wire transfer for your Receivables Account. In these cases, weekly billing and reimbursements will trigger transaction fees.
Read more: Billing and reimbursement transaction fees >
I have a U.S. bank account, but an international address. Can I use ACH to avoid transaction fees?
In order to be reimbursed via direct deposit to your U.S. bank account, you need to also have a U.S. address for your business. If you do not meet these requirements, please set up your Receivables Account using other means.