I posted it on Discord already, but will repeat it here once more.
I like the idea of a multi-currency system. But before implementing it on October 5th for everyone, there has to be a possibility to switch the payout currency. Else you will have cases where conversions are taking place twice.
That’s why I’m posting it here once more to push the importance of the issue! 
Cheers,
Shasu
This change is quite worrying and I’ll need to let it sink in.
One note though, if EUR is an option, then a free money transfer of EUR based payouts to any EU based bank should be possible as well.
That would at least get rid of one variable.
Re: Currencies fluctuating wildly - Yes, however if I (having euros) visit an online shop July and buy an item for $15, I expect to pay whatever the exchange rate is for July. If I return to that shop again in August and buy that same item again, I expect to pay whatever the exchange rate is for August.
I can appreciate how many subscribers “set and forget” their pledges, but in the end they’re the consumer and they’re responsible for their purchases. Patreon could instead create a patron dashboard where they can review their pledges and the current estimated rate.
The current setup means creators either get screwed (the patron pays too low an amount based on when they joined) or they become money hungry jerks (the patron overpays based on when they joined). Many creators already are pricing things very low in order to entice recurring subscribers, having this whacky price book locking in lifetime rates based on join date for patrons is unpredictable insanity. It may look like “stability”, but it’s chaos for creators and unfair from one patron to another simply based on the date they joined.
Hello together,
i want to change the curency to € because im located in Europe, and the half of my patrons are from europe.
But i have some Qustions, i created my page last year and set the payout currency to Dollars.
Im now not be able to change this to €, but before i change the currency for patrons, i want to change the payout currency to € for me.
Will be this possible ? because it make no sense, if i had to exchange 2 times until i get the euros.
The other question is,
Whenever a patron pays in a currency that is different than your payout currency, you will be charged a 2.5% currency conversion fee per transaction.
what this mean ?
we pay alllready paypal an payment rate from 3%, will the 2,5 % get on top off that 3% or how is it to understand ?
And when will be the display bug for the currencys be fixed ?
Hmmm… Just checked my account that I created last year. Now my future patrons can pay in their local currency, but I STILL cannot choose my payout currency. So… @reyna I assume the following is going to happen (please correct me if I’m wrong)
So now I have to pay the conversion fee TWICE?!?!?!?!?!
I’m sure this can’t be the meaning of this change. The opt-in can’t be changed anymore, but I STILL CANNOT change my payout currency. So I’m paying TWICE. It feels like I’m being punished for giving my future Patrons the possibility to pay in their own currency. (I guess I’m lucky that I don’t have any Patrons yet).
So, I have two questions for you:
At the moment I have to agree with what’s been said above: apparently we, the creators, are NOT your customers (while in fact we are) and OUR customers are YOUR customers instead.
At least that is how it feels.
These were my two cents again.
I’m afraid that will happen too, Ilse. I don’t want to be paying a conversion fee twice and being able to change the payout currency won’t even fix it for me. According to Google Analytics 28% of my visitors are European and 1/3 of those are from the UK. Most people will be paying in , so getting paid out in would make the most sense for me. But having to pay a conversion fee twice for those who pay in € or £ will still add up. Analytics show my visitors, but let’s say the amount of European paying patrons is also 28%, that’s about 544 patrons. That’ll be hundreds of extra euros I’ll be paying for conversion. If I’d get paid out in euros, the amount I’d be paying extra would be even higher.
This is giving me headaches 
I readed the blog article again, and i found this statement at the end of the blog
"Our next step is to give all creators who want to switch their payout currency to €, £ or $ the ability to do so. We will make this available to you within the next couple of months, before we enable patron currency choice for everyone. You can expect to hear from us as we get closer to that time."
So i hope they will it enabled in september so creators can also switch the currency.
Please please implement this. If you taking away the option from us to chose how we would like the payments to be presented to our patrons, at least leave us an option to chose what we do with the money afterwards. Otherwise you chipping away at that fragile thing called trust. Knowing all the EUR/GBP transactions will be forced to be converted at an ungodly rate just make us all wait for a decent competitor to arrive… Please implement the options Andrew offered.
As a UK-based, but having most of my following in Russia + Europe, while I’m in UK, losing on exchange rates is gonna kill me.
Also, I’d love if this was amended (found in the FAQ): “If they don’t use any of those 3 currencies, we will display the tier price in the creator’s payout currency.”
Is it possible to have currency A displayed, so I can name all the prices in, say, dollars. But be paid out in £? At the moment as it stands – I won’t be able to, if I choose the payout in £, as having predominantly Russian audience, it will confuse them a lot seeing £, as the country (and the most of it’s neighbours) are real used to $… Thanks!
Hello,
as far as I’m aware, the date is still Oct. 5 when our patrons can choose their currency and the option for us to choose the currency we want our pay-out to be in should be coming in September.
It is already the 13th and so far I haven’t heard anything more about this. Can we please have an update? As all my patreon’s currency is Euros, being able to also change the pay out currency to Euros, this is an essential option for me.
Thanks
Katrin
Any news about the timeline?
When will we be able to choose our payout currency? Will our patrons still be able to change their currency come Oct. 5th?
check your account settings, it should be already possible.
Page / Edit page / Getting Paid
Running on Euro now. Very good integration. Well done by the team.
Hey @Katrin_Ils @PeterS there’ll be a wider announcement about this later today but you do now have the option to change your payout currency to USD, EUR or GBP (with more currencies coming soon.) By changing your payout currency to Euros or any of the supported currencies, this will also enable your patrons to pay you in their choice of supported currencies.
Awesome, thank you!
While it makes sense to not be able to change the currency too often, people do move.
I’m in the UK, so USD is useless to me. But my husband is Dutch, and we’ve talked about one day moving to mainland Europe. But it looks like, if that ever were the case, I couldn’t change GBP to Euros. It’s a 50-50 chance that it happens, so it feels like I have to either stick with USD, or change to GBP and live with it if I do move, or chance Euros and live with it if I don’t move. Maybe an application, as much of a nuisance as that would be.
Though it is ultimately true that I signed up without ever thinking the payout currency could change, now the option is here, it feels somehow less convenient. And I don’t like the idea of committing like that.
Hey @KimWedlock, technically you can change your currency after 6 months. Our recommendation is to only change once to prevent fraud issues for both creators and their patrons as well as avoid confusing-looking earnings dashboards, but we recognize that folks don’t stick with one currency their entire lives, so that flexibility is there.
Hey all - we have an exciting update about multi-currencies, Patreon in French, and Merch for membership! Check it out here → An update on currencies 
I’m sorry, I was really looking forward to the currency change but now I’m beyond confused.
If I change from USD to Euro, I can adjust the tier prices and the new prices will ONLY affect new patrons BUT if old patrons change the currency too, they will have to pay new (higher) prices. So why would they change? And if they don’t why would I as I would still be slapped with some sort of conversion fee if I end up with a mixture of USD-Euro patrons?
If I change from USD to Euro, I’m going to be charged 35 Cents (Euro). But if I stick with USD it’s 30 US-Cent which is about 26 Cents (Euro). So I pay MORE when I change currency. So I end up paying more fees just because I switch to my currency - why?
Bottom line:
Why would I change currency when I end up with weird tier prices like 2,31 OR make my old patrons pay more AND pay more in fees myself? What are the benefits for my existing patrons and me (beside some study that showed there is a somewhat higher chance to get more patrons when they can choose their currency)?
I really like patreon and don’t want to move to another plattform but this is confusing and frustrating for me and my patrons.
Patreon said they did studies which showed this would be better for everyone and make things simpler. Instead, it has complicated things and confused large numbers of people, while taking away our ability to set prices consistently for all Patrons.