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Thread: Dollars to Pounds (Webcam related)

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    Default Dollars to Pounds (Webcam related)

    This may be an obvious question, but i just wanted to be sure in advance while i wait for my pending profile to be approved on some american webcam site i joined!

    Does anyone work on an "american" based webcam site?? (ImLive, Cams etc) and find that after 2 weeks, when you get your cheque in the mail, the (for example) $4200 dollars you made during those two weeks, really amounts to roughly £2500 due to the currency exchange?? That really sucks.

    Am i going to have to hustle twice as hard??

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    God/dess minniesoporno's Avatar
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    Default Re: Dollars to Pounds (Webcam related)

    its dollar for dollar really, I am in Canada sometimes the exchange rate is good sometimes. it's not. you just have to make the dollars that come in work for you.


    I work on cams.com and I get my money sent via wire transfer to my bank account. so there is no holds on my funds when the check comes in. my bank puts us checks on hold for 15 business days.
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    Default Re: Dollars to Pounds (Webcam related)

    I work on american sites too - I tend to prefer getting paid via epassporte then I draw it all out and put it in the bank.
    I always work out the exchange rate www.xe.com is good for this.

    Also a tip I have is ; Always take into account the % cut that way you don't feel 'ripped off'.
    So say I make $300 in a day and the cam site takes 30% ($90) I work actually say I made $210. Then I go to xe and work it out there £126.

    I know it's all the same result but you wouldn't believe how many people just don't take the % cut and exchange rate on board.
    So they're expecting way more in their pay and get dissapointed.

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    Default Re: Dollars to Pounds (Webcam related)

    If your income is worked out in one currency and converted to another before you get it, what you earn will depend on the exchange rate betwen the two currencies. The exchange rate varies depending on the economic performance of the two countries concerned.

    For example the exchange rate for the pound against the dollar was approx $2 to the pound in early 2008. It has now fallen back to $1.65.

    So in early 2008, $1,000 would have been worth £500. Now it is worth £605. So you are actually better of now than in early 2008 if you are spending in pounds.

    If you are spending in dollars, then you take two hits:

    1) You'll lose about 5% of the value of your earnings when the currency is converted from dollars to pounds by your employer.
    2) You'll lose another 5% of the value of your earnings when you convert the pounds back into dollars for your use.

    This is because the banks take a percentage of each transaction to cover their costs and give them a profit.

    Phil.

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