Google refuse to divulge Adwords currency exchange costs
I was a bit surprised to learn that Google Adwords denominate their bids in USD, but if you choose a foreign currency as your default, google will not let you know how they calculate the exchange rate.
They only will tell you it is fixed daily, but refused to answer my questions about further details. This is pretty poor don't you think, considering the volume of transactions denominated in currencies like euro?
Seeings as the adwords system doesn't allow you to know what other people are bidding, this is an excellent way to scam a few extra % out of unsuspecting bidders, don't you think?
I guess it's safer to denominate in USD and pay your bank to exchange the money. At least you know what you are paying!
- Y! MyWeb
Learned This Too Late
I set my adwords account up at a time when the Canadian dollar was quite a bit weaker than it is now (U.S.). I stopped using that account when I was still paying 8 cents a click (Canadian) rather than something more in line with the true exchange rate - around 6 cents. The Canadian dollar kept getting stronger and stronger - yet you wouldn't have known that looking at what I was paying in adwords.
Last time I'll ever let Google 'do the math' when it comes to my money.
currency exchange can be a
currency exchange can be a tricky business, because the currency market is completely decentralized and hence there is no standard conversion rate. there is also the issue that google may not convert the funds at the time of the transaction, but rather may wait until it is more convenient from an accounting perspective.
so we have a business
so we have a business opportunity for someone to create a website that calculates the Google exchange rate and suggest if we could be using our USD GBP AUD CAD or money nuts accounts.
How would you calculate it?
How would you calculate it? It's impossible. They know it and that's why they don't divulge the info.