In this article, you’ll find information on changing the currency of your creator balance and your payout currency. You can find our current supported currencies listed in this Help Center article.
Feel free to skip ahead if you know what you’re looking for by clicking the links below, or take a deep dive from the beginning:
- Read first – key things to know about changing your currency
- How changing your payout currency works
- Payout currency in your dashboards
- What this means for new and existing patrons
- Refunding patrons after you change your payout currency
- Letting your patrons know
- Frequently asked questions
Key things to know before changing your payout currency:
Changing currencies: You’ll only change your currency once. Make sure you are ready to choose your new currency before starting the process.
Your existing balance: When you start this process, you will be prompted to withdraw your full balance in your existing currency before you are able to select a new currency.
Your tier prices: You’ll have the opportunity to adjust your tier prices when you change your payout currency. Nothing changes here for existing patrons, but encouraging those in your region to update their pledge and pay you in the same currency as your payout balance will save you both additional conversion fees applied by banks, credit cards, and other services. Suggested messaging can be found below.
Paypal: If you’re using Paypal, ensure your Paypal account is set up to hold multiple currencies before you change your currency. Do this by following these steps.
Stripe: If you’re using Stripe, and switching to EUR or GBP, you’ll need to set up an alternative payout method (Paypal or Payoneer) after changing your currency.
Payment processing fees: By changing your payout currency, you’ll be subject to the associated payment processing fees related to the new currency choice.
How changing your payout currency works
To change your payout currency, head to your Getting Paid section of your creator page editor, and under "Your currency," select Change Currency.
From here you’ll start the currency change process. As a reminder, make sure you have read through the key things to know and prepare before getting started.
NOTE: While changing your currency won’t take long, this process will timeout after 1 hour if you have not completed the currency change. If you exit out at any point before completing the currency change, your changes will not be saved and your currency will not be updated.
While you are making this change, anyone trying to pledge will see a maintenance notification and will be asked to try again in 15 minutes:
The first thing you’ll be asked to do is withdraw your existing balance in your old currency. It is a requirement that your balance must be zero prior to changing your payout currency.
Once you’ve withdrawn your balance, you’ll be prompted to select your new currency.
Important: Note the payment processing rates for the currency you're changing to. We recommend that you review payment processing rates for supported currencies before changing your currency.
Next, you’ll be prompted to confirm your tier prices. The tier prices shown are the same as your previous currency. At this time you have the option to change the price of them for new patrons. Existing patrons will continue to pay the original price.
Note: You can only change your tier prices once. After changing your payout currency this will no longer be available.
When editing your tier prices, you’ll have the ability to view the converted tier prices in other currencies. Click View next to each tier to open up a conversion table per tier.
Finally, you’ll be asked to confirm your tier amounts and save your currency choice.
Once you click Confirm and Save your new payout currency will be saved.
Payout currency changes in your dashboards
Earnings dashboard: In the month that you change your payout currency, you will see your balance displayed as a stacked chart with both currencies reflected. From that point on, your monthly balance will be reflected in your new payout currency.
Patron Relationship Manager: All surfaces in Patron Relationship Manager will be updated with your newly selected currency, with the exception of pledge amount which will always display each patron’s preferred currency.
This is also detailed in the individual patron view, but each patron’s Lifetime Value and the amount you receive is shown in your currency. Similarly, when you download your CSV report from Patron Relationship Manager, this will show amounts in your payout currency.
What this means for new and existing patrons
This change will not affect your existing patrons. However, if you have patrons in your region, encouraging them to update their pledge and pay you in the same currency as your payout balance will save you both additional conversion fees applied by banks, credit cards, and other services.
Anyone new to your page will see prices in their local currency. If their currency is not supported by Patreon, tiers will be displayed in your chosen currency. When receiving a pledge in a different currency than your payout currency, Patreon charges you a 2.5% currency conversion fee. Read more about what opting into currency choice for patrons means here.
As an example, if a creator in the UK changes from USD to GBP, an existing US patron will continue to pay the same amount in USD, their pledge doesn't change. The creator would be subject to the 2.5% conversion fee for a pledge in a different currency.
When you change your currency, patron multi-currency will be enabled so that new visitors to your page will see your tiers priced in their local currency (where supported). If your existing, local patrons edit their pledge to be in your local currency, they'll pay the new tier price that you set - which saves them any foreign transaction fees from their bank and saves you any currency conversion fees.
Refunding patrons after you change your payout currency
Once you change your payout currency, if you need to refund a patron this will be deducted from your balance in your new currency and refunded to the patron in their choice of currency.
If you'd like guidance, read this article on how to refund a patron.
Letting your patrons know
If you'd to let your patrons know of your payout currency change, you can use the suggested messaging below:
Post Title: Changing currency to [DELETE AS APPLICABLE: <specify your chosen currency here>]
I wanted to share some good news. I’m now able to change my creator balance and payout currency to my local currency of [DELETE AS APPLICABLE: <specify your chosen currency here>]. This means I’m subject to less fees when I get paid each month.
To avoid any additional conversion fees for the both of us, I suggest that those of you in [YOUR LOCATION] also change to your local currency. For those of you who would like to switch your currency you can follow these steps:
For those of you outside of [YOUR LOCATION], you can also change to pay in your currency of choice (where supported: Patreon's supported currencies) which will help you avoid foreign transaction fees.
Thank you for your continued support,
Frequently Asked Questions
Why do I have to have a zero balance prior to changing my payout currency?
Patreon does not currently support multiple currency balances, in order to change currencies and start receiving payment in your local currency, your balance must be zero.
Can I revert back to my old currency?
You should only change your currency once, so make sure you are ready to choose your new currency before starting the process.
Why am I unable to change my currency at this time?
There are a couple of reasons why you might not be able to change currencies at the moment. If you are a merch creator, changing currencies while using merch isn’t yet supported: this will be available to you in the next few weeks. Or, it’s the first or last day of the month - your currency balance must be withdrawn and closed out before earnings can be accrued in a new currency. Therefore you change currencies on the first and last day of the month during payment processing times.
I'm using a Payoneer prepaid card, how does this affect me?