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Just be careful what country you choose for your "alternate identity" account. I had been buying quite happily from the "international list" at Kobo in US dollars when they suddenly changed the system so that all prices quoted to me are now in euros (and presumably include French VAT at 19.6%).
I have a US account and credit card I use for my "impulse purchases" in order to avoid exchange rate considerations but if I use it now, I get hit with the "foreign transaction fee" because the billing comes in in euros. The transaction fee isn't too bad, but the VAT added onto the euro pricing has made Kobo's prices for most books considerably higher than those in the Sony store in the US. (Yes, I buy from the Sony store in the US - but that's a whole different story...)
If I use my French credit card, I also will get hit with a "foreign transaction fee" (higher than the one on the US card) because the charge actually comes from outside the EU even if it is denominated in euros to begin with.
I suspect Kobo really has nothing to do with this and it's some part of the fine print in the Agency agreement, but some days it seems like you just can't get a break.
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