Global currencies and payments for Zoom Events
Global payments are discussed in this section, along with answers to some of the most frequently asked questions.
Read common questions about:
- Which countries and currencies are supported by Zoom Events?
- How to accept international payments/currencies?
- Are there international fees?
- What are the cross-border fees?
- PayPal
- Stripe
- What are the foreign exchange fees?
- Hosts
- PayPal
- Stripe
- Hosts
- What is a foreign transaction fee?
- How are tickets purchased in a foreign currency refunded?
- When do I get my funds?
- PayPal payout schedule
- Stripe payout schedule
- Do you cover international taxes?
- How do I update my company’s tax-exempt information?
Contents
- 1 Which countries and currencies are supported by Zoom Events?
- 2 How to accept international payments/currencies?
- 3 Are there international fees?
- 4 What are the cross-border fees?
- 5 What are the foreign exchange fees?
- 6 What is a foreign transaction fee?
- 7 How are tickets purchased in a foreign currency refunded?
- 8 When do I get my funds?
- 9 Do you cover international taxes?
- 10 How do I update my company’s tax-exempt information?
Which countries and currencies are supported by Zoom Events?
| Country | Currency |
| Argentina | USD |
| Australia | AUD |
| Austria | EUR |
| Belgium | EUR |
| Brazil | BRL |
| Canada | CAD |
| France | EUR |
| Germany | EUR |
| Hong Kong | HKD |
| Ireland | EUR |
| Italy | EUR |
| Netherlands | EUR |
| New Zealand | NZD |
| Portugal | EUR |
| Singapore | SGD |
| Spain | EUR |
| Switzerland | CHF |
| Sweden | SEK |
| United Arab Emirates (AE) | PayPal – USD
Strip – AED or USD |
| United Kingdom (UK) | GBP |
| United States (US) | USD |
Among the countries for which PayPal supports payments are:
- In order to acquire an Argentinian passport, you will need to go to any of the following countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, France, Germany, Hong Kong, Ireland, Italy, Netherlands, New Zealand, Portugal, Singapore, Spain, Switzerland, Sweden, United Arab Emirates, United Kingdom, and United States.
The following countries are supported by Stripe:
- It could not be more perfect. The countries represented in this study are Australia, Austria, Belgium, Brazil, Canada, France, Germany, Hong Kong, Ireland, Italy, Netherlands, Portugal, Singapore, Spain, Switzerland, Sweden, United Arab Emirates, United Kingdom, and United States.
How to accept international payments/currencies?
Note: Additional currencies must be enabled on PayPal business accounts. Unclaimed funds will automatically go to an unclaimed status if they are received in a currency that is not enabled on the account.
You’ll need to make adjustments to your PayPal account dashboard in order to accept international payments. Please visit this PayPal support page for instructions on how to make these adjustments. Three options are available to you:
- Payments/currencies from abroad can be accepted, and they are converted to your PayPal account’s primary currency.
- If the customer’s payment is denied, the purchase cannot be completed.
- The new holding balance will be created in the currency with which all international payments are made.
The PayPal support page provides detailed instructions and more information. International fees will apply when accepting international currencies.
Note: Stripe Business accounts can accept international currencies without taking any additional steps. The following sections will provide information regarding the international fees associated with these transactions.
Are there international fees?
In order to process international transactions, Zoom does not charge a fee directly. Nevertheless, operating in foreign currencies and countries has its costs.
What are the cross-border fees?
PayPal
Attendees whose payment method originated outside of the Host’s country are subject to cross-border fees.
Example: The US-based Host’s fee schedule might look like this: 3.49%+$0.49 (normal processing fee) + 1.5% (cross-border fee) if the ticket is sold in USD to a UK buyer (Attendee).
Stripe
The Host may charge a cross-border fee (according to the country where the Attendee’s payment method originates).
Example: It is possible that the US-based Host may charge the following fees to a UK buyer (Attendee) if the US-based Host sells a ticket in USD to the UK buyer (Attendee): 2.9%+$0.30 (normal processing fees) + 1% (cross-border fees).
What are the foreign exchange fees?
Hosts
PayPal
Payments made through the PayPal business account will be charged a foreign exchange fee if they are made in a currency other than the account’s registered currency.
Note: When a foreign exchange fee is being charged, there is usually also a cross-border fee applied as well.
Example: 3.49% + $0.49 (normal processing fee) + 1.5% (cross-border fee) + 2.5% (foreign exchange fee) could be the number of fees a US-based host must charge a UK buyer (Attendee) if the ticket is sold in GBP.
Note: Adding more currencies to PayPal business accounts is something that needs to be enabled. Whenever funds are received in a currency that is not currently enabled on the account, those funds will be deemed to be unclaimed immediately as they are not yet enabled on the account.
Stripe
The Stripe account will be charged a foreign exchange fee if payments made in currencies other than the currency in which the Stripe account is registered are accepted by the account.
Note: When a foreign exchange fee is being charged, there is usually also a cross-border fee applied as well.
Example: There are several fees that an American Host needs to include in his fee schedule if he sells a ticket in GBP to an attendee from the UK, for example: 2.9% + $0.30 (normal processing fee) + 1% (cross-border fee) + 1% (foreign exchange fee).
Attendees
Attendees may be charged foreign exchange fees if they purchase tickets in a currency other than the one they were issued with.
What is a foreign transaction fee?
In credit card billing, foreign transaction fees (FX) are added when purchases are made in currencies other than the United States dollar (USD) or pass through a foreign bank. The fee ranges from 1% to 3% depending on the credit card issuer.
How are tickets purchased in a foreign currency refunded?
Foreign exchange rates fluctuate every day. Attendees who request a refund for a ticket purchased with foreign currency will receive a refund in their local currency for the amount they paid in foreign currency. The Host’s guarantee to the customer may result in the Host paying out more or less than the value of the actual ticket.
Example: Tickets sold by hosts are in USD, which is the host’s registered currency. During the purchase process, an Attendee chooses EUR as the currency. A $10 USD ticket will cost €9.00 EUR if the currency exchange rate on the day of purchase is $1.00 USD = €0.90 EUR. Due to the loss of value of USD against EUR since the original ticket purchase date, the Host will refund the Attendee $10.80 USD as an additional refund. If the Attendee requests a refund a few days later, and the currency exchange rate is currently $1.00 USD equal to €0.85 EUR, you will refund the Attendee the €9.00 EUR they purchased the ticket for, however due to the loss of value of USD against EUR, the Host will refund $10.80 USD.
Note: There can be gains and losses associated with currency exchange rate fluctuations.
When do I get my funds?
PayPal payout schedule
As with the US payout schedule, PayPal’s payout schedule is 3-21 days. (Link to article on linking PayPal)
Stripe payout schedule
Depending on the location of the host, Stripe has different payout schedules.
In the case of Australia and the United States:
- Event: After the event is over, you should expect to receive your funds in your bank account within seven days.
- Series: As soon as the event is over, the funds are usually deposited into your bank account seven days later.
- Conference: Generally, your bank account will be credited with the funds seven days after the event has ended.
As a general rule, Australia, Austria, Belgium, Brazil, Canada, France, Germany, Hong Kong, Ireland, Italy, the Netherlands, Portugal, Singapore, Spain, Switzerland, Sweden, United Kingdom, have the following geography:
- Event: You will generally receive your funds 8 days after the event has ended and they will be deposited into your bank account.
- Series: Your bank account is usually credited 8 days after the event ends.
- Conference: You should normally receive the funds in your bank account 8 days after the event has ended.
The following is information for the United Arab Emirates (UAE):
- Event: As soon as the event is over, funds are usually deposited into your account within 10 days.
- Series: A fund transfer will usually be made to your bank account within 10 days of the event ending.
- Conference: As soon as the event ends, the funds are usually deposited into your bank account within 10 days.
Do you cover international taxes?
Depending on where you live, you will be charged taxes and VAT.
Note: The current 10% GST rate will apply to Stripe’s payment and dispute fees in Australia.
Note: There are no VAT numbers for Canadian and American businesses.
How do I update my company’s tax-exempt information?
The tax-exempt status of your company can be included during the onboarding process. You can update your company’s billing information in the billing settings if you did not include information during onboarding.
Read it also –
Frequently Asked Question
How do I change currency on Zoom billing?
- You can access Zoom’s web portal by signing in to your account.
- Select Account Management then Billing from the navigation menu at the top of the page.
- Clicking on the Billing Information tab will take you to the tab that contains the billing information.
- By clicking on the drop down arrow to the right of the currency drop down, you will be able to choose what currency you will be able to use for your account once you click on the drop down arrow.
Can zoom take payments?
How does zoom billing work?
- The Client Area can be accessed by logging in.
- Invoices that are due should be checked.
- By clicking the box beside the invoice number that you wish to pay, you are able to select the invoice number to pay.
- You can choose to pay either selected items or all items depending on the situation you are in.
- The ZOOM Hosting Invoice will be displayed as soon as you click on the link.
- It is important to check the details of the transaction.
