Tier Price Increase Uncovered (Patreon)
Content
Hi Sweethearts,
Patreon could luckily clarify why some people saw a tier price increase, when I haven't increased any prices. (For years, by the way!)
Here’s what’s happening, Patreon updates their Currency Conversion Price Book about every 6 months to reflect changes in global exchange rates. When this update happens, the converted prices for tiers in other currencies than the Euro (like in this case USD) can shift, sometimes quite noticeably.
Since the Euro has been climbing against the US dollar, the new conversion rate (plus a small buffer they add to protect creators from sudden currency swings) means the €50 tier now shows as $62 for US members, instead of the previous $54. The same goes for the other tiers.
Existing members who joined before the update keep their original converted price unless they cancel and rejoin, which is why only new or returning patrons are seeing the higher amounts. If you are curious about the conversion or want to see exactly how much you’ll be charged, you can always check your membership details at https://www.patreon.com/settings/memberships. When joining or editing a membership, the converted price is shown clearly at checkout, and you also have the option to switch to another supported currency if you prefer.
So, it's as I expected. The dollar is losing value and this is the problem. I know it must be very frustrating for US members. Just know, as long as you stay at a tier, the price won't change. And I'm not receiving any more money. (The currency exchange and transfer fees come out of my end. Patreon's cut too, of course.) I hope your economy can improve soon so it will move the other way. :)
I hope this clarifies the situation. Thanks to the (potential) Patrons who let me know about this change. And please don't hesitate to ask any question if something seems strange, off, or like it wouldn't be fair.
Thank you again for your continued trust and support, it means SO much to me. And it's the reason I'm still doing this!
xoxoxox
Tess