You pay in Euros - Fanatec does not set the conversion rate. The conversion rate is what ever rate your bank or other payment provider uses, plus any fees they charge. In addition, at import you will pay 20% VAT on the full price including postage, plus the couriers handling fee.
The rates charged by Paypal and the banks varies considerably. You can get an idea in a tool in the Wallet section of Paypal, but you usually end up paying a little more depending on what card/bank you use.
And remember that if you have paid and then cancel the order, you will lose even more by the refund being converted back to GBP.
At import, VAT is charged by UPS by converting the stated Euro value (including the shipping costs) to GPB and then charging 20% of that for the import VAT. UPS use a reasonable exchange rate, so I found I benefited by about a fiver from when we used to pay the 19% VAT to Fanantec.
The UPS brokerage fee is £11.50.
MIne is due for delivery tomorrow (but we'll see :) ). If so it will only have taken 10 days since ordering, but I have had to be very involved with UPS to get it through customs on the German side, and I paid as soon as i got the email requesting the charges (make sure you pay on their site, not through an email link, as scammers are about). I had loads of notices of the package being delayed due to "Brexit", but most of those only lasted a few hours. So although it looks like transit time is only a few more days than it used to be , it has not been a very pleasurable experience.
If you run into problems with UPS saying they need more details from Fanatec, email them at [email protected].
Although it should not be necessary I registered for an personal EORI number and gave that to UPS and confirmed that the import was for personal use when I had to confirm the Commodities code for the wheel as 9404500000 ( video game console accessory)
Check your previous Fanatec invoices - they are available from the ORDERS page of your account.
Pre-Brexit your invoice will clearly show the VAT rate you paid - which was the UK rate of 20%.
The 19% shown on the product pages is for domestic customers. It changes at checkout, either being removed for non-EU customers (tax paid at import) or applying the applicable rate for customers from other EU countries.
Not sure how you calculated your saving. A few people seem to be tricking themselves into this false belief that we previously paid the selling state's VAT rate.
Yes, just checked. They did used to charge 20%, but the amount we (or I did at least) paid to Fanatic in total was the same as the full web prices, so they are actually charging their domestic clients slightly more for the ex vat price?
I'd calculated the full advertised price (plus shipping) using the exchange rate/charges that was used by the bank for my order (which was ex VAT) . After adding the GBP VAT and £11.50 brokerage fee to the actual GBP that I paid for the ex VAT order, it was £4.80 cheaper than what I would have paid to Fanatec pre Brexit. As I say, all down to a slightly more lenient exchange rate used by UPS/UK customs.... not much to worry about the scheme of things but effectively saving the brokerage fee and more, does make that "brokerage" charge a little more palatable :)
Dominic Whelan
Member
Comments
You pay in Euros - Fanatec does not set the conversion rate. The conversion rate is what ever rate your bank or other payment provider uses, plus any fees they charge. In addition, at import you will pay 20% VAT on the full price including postage, plus the couriers handling fee.
OK thanks for the information
The rates charged by Paypal and the banks varies considerably. You can get an idea in a tool in the Wallet section of Paypal, but you usually end up paying a little more depending on what card/bank you use.
And remember that if you have paid and then cancel the order, you will lose even more by the refund being converted back to GBP.
At import, VAT is charged by UPS by converting the stated Euro value (including the shipping costs) to GPB and then charging 20% of that for the import VAT. UPS use a reasonable exchange rate, so I found I benefited by about a fiver from when we used to pay the 19% VAT to Fanantec.
The UPS brokerage fee is £11.50.
MIne is due for delivery tomorrow (but we'll see :) ). If so it will only have taken 10 days since ordering, but I have had to be very involved with UPS to get it through customs on the German side, and I paid as soon as i got the email requesting the charges (make sure you pay on their site, not through an email link, as scammers are about). I had loads of notices of the package being delayed due to "Brexit", but most of those only lasted a few hours. So although it looks like transit time is only a few more days than it used to be , it has not been a very pleasurable experience.
If you run into problems with UPS saying they need more details from Fanatec, email them at [email protected].
Although it should not be necessary I registered for an personal EORI number and gave that to UPS and confirmed that the import was for personal use when I had to confirm the Commodities code for the wheel as 9404500000 ( video game console accessory)
Check your previous Fanatec invoices - they are available from the ORDERS page of your account.
Pre-Brexit your invoice will clearly show the VAT rate you paid - which was the UK rate of 20%.
The 19% shown on the product pages is for domestic customers. It changes at checkout, either being removed for non-EU customers (tax paid at import) or applying the applicable rate for customers from other EU countries.
Not sure how you calculated your saving. A few people seem to be tricking themselves into this false belief that we previously paid the selling state's VAT rate.
Yes, just checked. They did used to charge 20%, but the amount we (or I did at least) paid to Fanatic in total was the same as the full web prices, so they are actually charging their domestic clients slightly more for the ex vat price?
I'd calculated the full advertised price (plus shipping) using the exchange rate/charges that was used by the bank for my order (which was ex VAT) . After adding the GBP VAT and £11.50 brokerage fee to the actual GBP that I paid for the ex VAT order, it was £4.80 cheaper than what I would have paid to Fanatec pre Brexit. As I say, all down to a slightly more lenient exchange rate used by UPS/UK customs.... not much to worry about the scheme of things but effectively saving the brokerage fee and more, does make that "brokerage" charge a little more palatable :)