Paul Posted August 3, 2006 Share Posted August 3, 2006 Hello to everyone,I am setting up a Ski Chalet business and seeking advice on taking payments . We will be mainly advertising to the British market and as such will be showing our prices in pounds. Is it best to open a euro account and a sterling account both in france to take these payments or is it best to take the payments in euro at a fixed exchange rate? We will also have Euro credit card machine .Is there any costs in having a sterling account in france?It appears that other businesses use various methods for payments - we are just unsure which route to go down. Any help or advice will be appreciated . Many Thanks Paolo Link to comment Share on other sites More sharing options...
Cassis Posted August 3, 2006 Share Posted August 3, 2006 Just make everyone pay in Euros - Brits are quite capable of understanding euros. They have been going abroad for years, paying in francs, lira etc. and seem to have coped quite well. What makes you think the new fangled euros are a problem?There is a cost attached to having any cheque account in France - they are not free. Neither are credit card facilities - you will need to rent a machine from the bank.Can you get a French based sterling account??? Link to comment Share on other sites More sharing options...
Anton Redman Posted August 3, 2006 Share Posted August 3, 2006 Last time I looked you will be doing very well if you as a business can collect a sterling cheque drawn on a UK bank paid into a French account for less than Euros 25. Either sort out an arrangement to bank in England with online facilities to check for bouncing cheques or take credit cards in Euros so the commision falls on you renters. If my borrowing were in Pounds I might go down the streling bank account route. Link to comment Share on other sites More sharing options...
Cassis Posted August 3, 2006 Share Posted August 3, 2006 Good point, Anton - I had assumed that Paolo would be based over here, but if he is in the UK or has a foot on both sides of the Channel then what you say about a UK bank account makes good sense. Link to comment Share on other sites More sharing options...
Paul Posted August 3, 2006 Author Share Posted August 3, 2006 Hi CassisThanks for the reply, i dont think there is a problem with brits paying in euros. I was wondering what is best method for the client and us . I believe we can get a french based sterling account.Thanks again Paolo Link to comment Share on other sites More sharing options...
Coco Posted August 4, 2006 Share Posted August 4, 2006 As you've put this is the B&B section I presume it is a B&B as opposed to a gite. Therefore you surely won't be collecting the full amount up front and as you would presumably be living here full-time in order to run the B&B you will need euros to survive. No problem in advertising the price in £sterling so that people understand quite clearly the cost of your rooms (many are advertised in £, $ and €) but when it comes to paying I would take the money in the currency that you will be using. As someone else has said, there are quite high costs involved in banking foreign cheques, even euro ones; I had to pay 25 euros to bank a euro cheque drawn on a German bank.If you really do want to have a sterling account why not have one in the UK? I think the charges would be cheaper. I still have a Barclays account and they know that I live in France, it's the only address they have for me. I sometimes take some deposits in sterling, just so that I keep the account topped up for when I visit the UK but I don't take too many as you take the gamble that the euro rate will be pretty low when it comes to a point where you need to transfer to euros.I've only ever had one couple who wanted to settle with a sterling cheque but they didn't seem to have any problem when I sent them off to the local cash machine to get euros having explained to them that sterling was useless to me living and working in France. Link to comment Share on other sites More sharing options...
Anton Redman Posted August 4, 2006 Share Posted August 4, 2006 You can ( get a french based sterlign account ) but they will treat you to a Euro 25 mohican very time you pay in a cheque Link to comment Share on other sites More sharing options...
Cassis Posted August 4, 2006 Share Posted August 4, 2006 As St A says - we advertise in euros, take payment in euros, same for everyone, never been an issue for anyone from anywhere. Link to comment Share on other sites More sharing options...
Paul Posted August 5, 2006 Author Share Posted August 5, 2006 Hi ThereMany thanks your helpRegardsPaolo Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.