Re:Airbnb expands to experiences
by kofejnik on Thursday November 17, 2016 @09:03PM
(#12983731)
I'd rather prefer them to first stop skimming 50% on foreign exchange. Just today saw this screenshot in my fb feed, someone's reservation cost was converted at 100 rur/eur, whereas market rate is around 70 now. And they force payment in rubles, like if Russians don't have enough problems already.
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Re:Airbnb expands to experiences
by japanese_donald on Thursday November 17, 2016 @10:59PM
(#12984205)
I seriously doubt they are skimming. It's most likely the company that is actually doing the currency exchange that is overcharging AirBnB and they are pushing the cost onto the end user.
Re:Airbnb expands to experiences
by vinceguidry on Friday November 18, 2016 @08:59AM
(#12986756)
It's a fairly common practice for states in autocratic regimes to force foreign businesses operating in their country to cut them in on the action with currency hijinx. Currency exchange rates are often purposely kept low for precisely this reason. Even if it's the exchange company ripping them off, at least half is going into some bureaucrat's pocket.
It's a cheap way for the regime to reward supporters without actually having to come up with any real dough. Anyone supporting the regime has safe, easy means of exploiting currency arbitrage whereas ordinary people are policed heavily. Show up at the airport with a suitcase full of US dollars and depending on your political status the customs agent will either close it back up and send you on your way, or perp-walk you straight to jail after confiscating your haul. (guess where it's going?)
It's also why one of the first demands the IMF makes on broke states before they'll lend them money is to let the official currency rate float.
This does not apply to Russia, countless other sites allow payment in USD/EUR, so it looks like management decision
Re:Airbnb expands to experiences
by FordPrefectAO on Friday November 18, 2016 @03:57AM
(#12985352)
In that case then why don't they allow paying in either currency? I hate that airbnb always makes me pay in my home currency when my credit card gets me way better exchange rates, but I don't have a choice