Currency conversion wrong

Summary

when adding something to my cart/checkout the Currency conversion from USD to GBP is totally wrong, you have a $79.99 product showing at £73.63 when it should be £61.60. Please can this be sorted very fast!

What type of bug are you experiencing?

Purchasing

URL where the bug was encountered

Steps to Reproduce

add something to cart and view checkout.

Expected Result

Currency conversion to be correct

Observed Result

Currency conversion wrong

Platform

Chrome

Operating System

Windows 11

4 Likes

+1 for USD-to-JPY.
I had the same issue when purchasing $29.99 product, which was shown at 45 yen instead of 4,500 yen.
Please fix this issue as soon as possible. Thanks!

Same thing for the verify orders tab, I’m seeing my asset bought at 3k dollars because it was 3k Turkish Lira for the buyer :man_facepalming:. Guessing this is an issue on the entire site.

1 Like

This is because in the United States the sale tax does not get shown to the customer until they checkout because different states have different sales tax rules.
In the UK and Europe the VAT needs to be shown with the price prior to checkout. So what’s happening is because the price is shown in dollars it’s not adding the taxes on so the dollars are being converted to the Pound Sterling and then the 20% VAT is being added onto the shown price during checkout.
Americans are not paying the shown price, soon as they get to checkout their sales tax is then added on too because each State in the USA has their own sales tax rules.

Using your example, $79.99 is the price prior to sales tax. They convert it to £61.35 (the exchange rate at the time) and then the VAT is added on, 20% added onto £61.35 is £73.63

What FAB needs to do and do pronto is convert the currencies and add the VAT on prior to the checkout. Showing the price in dollars without the sales tax / VAT is causing confusion to none Americans.

Hi @TADSGaming,

You are seeing different prices due to taxes. The United States does not require the displayed price to include sales tax, so the price shown in USD does not include the taxes that will be calculated and added during the checkout process.

For countries that require the displayed price to include taxes, the price in USD is converted to their local currency, and then their tax rate is applied to determine the price shown to users.

I think the main factor here for other country users for example me in the UK, then as per the old Market Place the currency should be shown as that of the respective logged in users country.

Just like any other digital format purchasing site online.

Is this something which is going to be updated for Fab or are we forced to view this in US only which kind of makes no sense.