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Billing question: what does "banking information" mean?
Thread poster: Rebecca Freed

Rebecca Freed  Identity Verified
Local time: 15:36
French to English
+ ...
Oct 11, 2003

Hi all,
I've had agency in France request my "banking information" (coordonees bancaires) in order to pay my invoices. I assume this means they need some kind of information about the account that I want the amount wired to. I'd really prefer that they use PayPal, but they seem uninclined to do so. Does anyone know what this "banking information" that I need to supply is? I'm worried about the security of sending off a bank account number via e-mail to an agency I don't know all that well to begin with.


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Ralf Lemster  Identity Verified
Germany
Local time: 01:36
English to German
+ ...
Standard business practice Oct 11, 2003

Hi Rebecca,
Disclosing bank account details is standard business practice - my company stationery includes the banking details.

My answers below are based on the assumption that you only have a bank account in the US.

I'd really prefer that they use PayPal, but they seem uninclined to do so.

That's probably because payment by bank transfer is pretty standard in Europe. What you should inquire, however, is how much your bank is going to deduct for an incoming international payment. It's also a good idea to agree with your customer who pays for the transfer fees (bear in mind that with cross-border payments, banks at both ends usually charge a fee).

Does anyone know what this "banking information" that I need to supply is?

Account name
Account number
Full bank address
ABA code of the bank (if available)

HTH, Ralf

[Edited at 2003-10-11 17:13]


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Rebecca Freed  Identity Verified
Local time: 15:36
French to English
+ ...
TOPIC STARTER
Thanks for the information. Oct 11, 2003

Yes, I only have US-based accounts, and in years of contracting here, I've never had to disclose an account number to a client--though I suppose it's about as risky as disclosing a Social Security number in terms of identity theft.

Though they weren't directly applicable, the postings on IBAN and BIC were useful background. My bank just supplied me with a SWIFT number -- hopefully it will result in swift payment.


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Spencer Allman
United Kingdom
Local time: 00:36
Finnish to English
Yeah quite normal Oct 11, 2003

Bank charges vary according to countries and banks involved and whether the agent agrees to pay all the bank charges their end, which may still involve a charge your end!

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xxxsarahl
Local time: 16:36
English to French
+ ...
payments in France Oct 11, 2003

If you're going to work with French agencies/clients, I suggest you open a non-résident account at a French bank where you can deposit your checks for free. You can use that money whenever you visit France or you can apply for a Carte Bleue Visa and withdraw up to USD 500 a week. Think about it...
Rebecca Freed wrote:

Hi all,
I've had agency in France request my "banking information" (coordonees bancaires) in order to pay my invoices. I assume this means they need some kind of information about the account that I want the amount wired to. I'd really prefer that they use PayPal, but they seem uninclined to do so. Does anyone know what this "banking information" that I need to supply is? I'm worried about the security of sending off a bank account number via e-mail to an agency I don't know all that well to begin with.


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Ildiko Santana  Identity Verified
United States
Local time: 16:36
Member (2002)
English to Hungarian
+ ...

MODERATOR
routing # Oct 12, 2003

Ralf Lemster wrote:
Account name
Account number
Full bank address
ABA code of the bank (if available)


Here in the USA it also includes the routing number (available from your bank), especially when handling wire transfers from overseas.
Keep in mind that there is always a fee, so I, too, would stick to PayPal.

Ildiko


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Melina Kajander
Finland
English to Finnish
Swift = routing number? Oct 14, 2003

As far as I know, this 'routing number' is the same as the Swift number/code? (which is essential for international bank transfers)

Could someone maybe confirm this..?


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Ralf Lemster  Identity Verified
Germany
Local time: 01:36
English to German
+ ...
Different codes Oct 15, 2003

Hi Heli,
Heli Kajander wrote:

As far as I know, this 'routing number' is the same as the Swift number/code? (which is essential for international bank transfers)

Could someone maybe confirm this..?

They're not the same - the routing number is a 9-digit number (check on www.routingtool.com/. The SWIFT BIC (Bank Identifier Code) is an eight-character alphanumeric code that may be extended by three branch-specific characters. Check the SWIFT Online BIC directory.

To give you an example, the routing code of Bank of America NYC is 026009593, whereas its SWIFT BIC is BOFAUS3NXXX.

HTH, Ralf


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Melina Kajander
Finland
English to Finnish
Thanks for clearing it out, Ralf! Oct 15, 2003

I only thought so as in a previous job I had (nothing to do with translation, these codes were used more or less interchangeably, as far as I knew... (But I did't actually process the bank transfers, so wasn't sure!)

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