As of today we are dropping the dynamic handling of multiple currencies on our site. This means from now on you will only find pound sterling prices on our site. Any new purchases on our site will be quoted in pound sterling as of today and include VAT as standard.
If you have an existing account set to bill in euros or dollars that will remain for the immediate time being, but we will look to sunset these later in the year; we will let you know closer to the time, but will be in effect converting your account to one that denotes and bills in sterling.
In the seventeen years we’ve been in business, exchange rates for sterling have been largely stable; as such quoting a fair price in euros or dollars was never difficult. A price we set today would more than likely be fair for both parties a year later.
Post-Brexit however, this is no longer the case. Volatility of sterling means that a price quoted today might make no sense in as little as three months time, let alone a year or two. Indeed most recently, several of our domain name products have quickly become loss makers for us. We’d rather not have to constantly meddle with our pricing, month in month out.
Moreover, by making this change we will be removing considerable complication from various aspects of our business. From back end billing through to accounting processes and even product development and marketing – the handling of three different prices is a complex setup at the best of times. In the current climate it is causing increasing strain on our business operations.
We believe the removal of this complication will mean we can improve our services overall; from faster product development, to simpler and sturdier billing processes.
We will still take your money
Even though we won’t display euro and dollar prices for our products, international clients are still fine to make purchases on our site using credit and debit cards issued in different countries and currencies. You can still use your American Express on our site and pay in dollars. The only difference is your credit card company will handle the live exchange rate for you.
You can check what that might roughly equate to on the popular currency conversion site: www.xe.com.
We don’t expect this will make a material change for most of our international clients. Indeed for some of our products you might actually now find our products are slightly cheaper.