Do you know if Etsy converts currency or how to change my currency settings on Etsy? this is one of the questions our readers ask a lot. Well, we´ve got you covered.
Etsy offers unique products that are hard to find anywhere else. However, most Etsy shops are based in the United States.
What happens if you are a customer from a different country whose currency is different than the U.S. dollar? Can Etsy accommodate currency conversions?
Etsy is able to convert currency for customers who are paying with a different form of tender than that accepted by the Etsy shop. There is a 2.5% fee for converting currencies which are applied to the seller’s Etsy transaction fee.
In this article, we will cover what the default currency setting is for Etsy and how Etsy vendors can change the form of currency for their shops.
We will also discuss what forms of currency Etsy supports and whether or not there are ways for Etsy vendors to avoid currency conversion fees.
Table of Contents
What Is the Default Currency for Etsy?
Since most Etsy shops are based out of the United States and Etsy’s headquarters are also stationed in the U.S. in Brooklyn, New York, the default currency setting for Etsy is U.S. dollars.
Although you can change the type of currency displayed in your Etsy shop, if you don’t specify then it will automatically set it to U.S. dollars.
With over 2.5 million shops located in the United States, this number far surpasses the next most popular country with Etsy shops – the United Kingdom.
With almost 82 million shoppers, most of Etsy’s active customers also live in the United States. It is only logical that the default currency would be U.S. dollars.
As an Etsy Vendor, How Do I Change the Currency of My Shop?
If you don’t want the items in your Etsy shop to display American currency, you do have the option to change to a different form of tender.
The steps to change your shop’s currency settings are easy. In your Shop Manager, click on the Finances tab and select Payment Settings.
Go to the Currency option and select your currency preference from the dropdown menu. You also have the option to round prices to the nearest whole number.
Click on the Change Shop Currency button to apply these settings and all of your current listings will be converted.
Any new listings you post will automatically be set in your chosen currency. If you decide that you want to go back to the default, you must wait two weeks after you applied the changes to reset the currency.
What Currency Options Are Available on Etsy?
Although U.S. dollars is the default and most common currency used on Etsy, Etsy can also accommodate a number of other countries’ currencies.
British pounds, Australian and Canadian dollars, and Euros are the most popular forms of currency exchanged on Etsy after the American dollar.
Other forms of currency also accepted include Hong Kong, New Zealand, and Singapore dollars, Danish, Norwegian, and Swedish krone, Indonesian rupiah, Malaysian ringgit, Moroccan dirham, Philippines and Mexican peso, South African rand, Swiss franc, Vietnamese dong, Turkish lira, and Israeli shekel.
You can view any vendors shop in the currency of your choice so that you know how much items cost even if they are originally listed in a different currency than you are used to.
If you are a seller that is based out of Croatia, Hungary, Romania, Poland, the Czech Republic, or Bulgaria, you should set your currency to Euros for the most optimal transactions.
Can I Avoid Currency Conversion Fees on Etsy?
If you are an Etsy vendor and would rather avoid paying fees for converting currencies on products your customers typically buy, there is a way to excise these charges.
By setting your preferred payment options to Paypal, you are communicating to your customers that the best way for them to make their purchases is through Paypal.
If you give them other options of payment, they may still opt to use a form of payment that requires a currency conversion and thus a fee.
To guarantee that you never pay any conversion fees, make Paypal the only payment option for your shop.
Be aware that making these changes may exclude some shoppers from purchasing your products, but the chances of you losing too many customers are low. Paypal is one of the most popular methods of payment on Etsy.
Etsy is a popular place to purchase gifts from vendors all over the world, so it only makes sense that they accommodate currency conversions.
There is a 2.5% conversion fee applied to any transaction where a customer wants to pay in a form of currency different than that listed on the seller’s shop.
Since most of Etsy’s shoppers and vendors are based out of the United States, the default currency for Etsy is U.S. dollars. However, Etsy also supports over twenty other forms of currency including Euros, Australian and Canadian dollars, and British pounds.
If you want to change the currency of your products listed on your Etsy shop, the process is simple and can be done through your Shop Manager interface.
All listed product prices will be converted and any new listings you post will automatically be set in your desired currency.
If you wish to avoid paying currency conversion fees to Etsy, you can set your payment options to Paypal only. That way your customers must use their Paypal account to make purchases and you don’t have to pay extra.
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