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General discussion (archive)GOG 3% Transaction Fee(25 posts)(25 posts)
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This is my favourite topic
Posted June 30, 2009
my credit card bank charges me 1% extra for sales in foreign currencies, which is ok for me.
3% is a little much imo
Post edited June 30, 2009 by dragonmaster
Posted June 30, 2009
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Faithful: Did GOG change the rules and now charging this fee so it is passed on to the consumer?

GOG.com does not charge any extra fees. We always charge your credit card with the exact amount stated on our payment form.
On the other hand, we have no way of telling if your bank will charge you any extra fees. You have to clarify that with them.
An alternative is to use PayPal.
Posted June 30, 2009
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Faithful: As all 15% off sales are really 12% off sales

i know i'm a little late
but your math is quite incorrect
Posted June 30, 2009
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Faithful: As all 15% off sales are really 12% off sales
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captfitz: i know i'm a little late
but your math is quite incorrect

Agreed. At best would be 103% are really 100% :)
Posted July 01, 2009
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MaverickRazor: Sorry to tell you this but Paypal already charge 2.5% for currency exchange. This charge is embedded in the exchange rate you see.
From Paypal's website:
"Payments requiring a currency conversion include a 2.5% fee."

Last time I checked Paypal's Euro-Dollar exchange rate it was a 4.5% fee above the exchange rate at that time.
I think the fee on the exchange rate by my bank was 1.5%.
Edit:
typo removed.
Post edited July 02, 2009 by HertogJan
Posted July 01, 2009
Well, the only card I could even find searching that does not charge transaction fees is Capital One.
Posted July 01, 2009
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captfitz: i know i'm a little late
but your math is quite incorrect
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Namur: Agreed. At best would be 103% are really 100% :)

Actually at this level his approximation is pretty good (not entirely accurate though), we'll use a $10 game as an example:
($10.00 - 15%)+3%
15% of $10.00 = $1.50
$10.00 - $1.50 = $8.50
3% of $8.50 = $0.255
$8.50 + $0.255 = $8.76
= -12.4%
So he only saves 12.4% off the "marked price" but seeing as his 3% fee would get him on a full priced game, too, that would be $10.30, which is $1.54 more than the total price of his game at 15% off.
Posted July 01, 2009
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Namur: Agreed. At best would be 103% are really 100% :)
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Zolgar: Actually at this level his approximation is pretty good (not entirely accurate though), we'll use a $10 game as an example:
($10.00 - 15%)+3%
15% of $10.00 = $1.50
$10.00 - $1.50 = $8.50
3% of $8.50 = $0.255
$8.50 + $0.255 = $8.76
= -12.4%
So he only saves 12.4% off the "marked price" but seeing as his 3% fee would get him on a full priced game, too, that would be $10.30, which is $1.54 more than the total price of his game at 15% off.

i understand the math, but the last two sentences you wrote are exactly what make the point invalid. the transaction fee is there for the full price of the game as well as the sale price. you save slightly less than the 15 percent, true, but the 12 percent claim is erroneous.
Posted July 01, 2009
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Zolgar: So he only saves 12.4% off the "marked price" but seeing as his 3% fee would get him on a full priced game, too, that would be $10.30, which is $1.54 more than the total price of his game at 15% off.

And why would you consider the "marked price" without fee but not the "marked discounted price" without fee ?
If there's no fee you have to compare the 10 with the 8.5
If there's a fee you have to compare the 10.3 with the 8.755.
Obviousouly in either case you'll end up with a 15% discount.
Posted July 01, 2009
you both missed my point.
I was stating that what he said was "correct", but not accurate.
He is correct in that he gets a 12% discount off the marked price, well, 12.4% actually. However, he neglected to account for the 3% increase on the marked price, thus his statement was not accurate.
His math was correct. He just forgot a minor detail. And he actually still saves exactly 15%, interestingly enough. (15% of $10.30 is $1.545 :) )
Which I think what happened is he looked at his bill, on which he got a $10 game (or maybe $6, the math is just easier to do in my head for $10 ;) ) which he got 15% off of, and saw the charge for $8.76, and was like ".. that's only a 12% savings!"
Post edited July 01, 2009 by Zolgar
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General discussion (archive)GOG 3% Transaction Fee(25 posts)(25 posts)
(25 posts)