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umbrella company accepting payments in USD?
Thread poster: Sophie Thereau
Sophie Thereau
France
Local time: 08:14
English to French
Nov 4, 2008

Hello,

I'm currently working with a French umbrella company and I have a problem: a potential client told me "you seem to be the kind of translator we need, BUT we only pay in USD". The umbrella company only accepts payments in EUR, so I'm a bit stuck. The British umbrella companies I've contacted (in hope this could lead to a solution) only accepts payments in GBP.

It seems that the concept of umbrella company is unknown or very confidential in the US or Canada, but I hope to be wrong. Is there anyone who can tell me if such a company exists and provide me with the contact details?

Many thanks !

Sebastien Thereau


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Nicole Schnell  Identity Verified
United States
Local time: 23:14
English to German
+ ...
A misunderstanding perhaps? Nov 5, 2008

AFAIK, there is no such thing as a bank / an umbrella company that would refuse to make any money due to the fact that said company only accepts one particular currency.

Any bank will convert any incoming payment into the right currency. You simply need to invoice the right amount. I recommend: http://www.xe.com/ucc/

Usually banks are charging a conversion fee in addition. If your umbrella company doesn't wish to cover the, say, 15 Euro flat fee for accepting foreign currencies, I would give this relationship with this "umbrella company" a serious second thought.


HTH

Best regards,

Nicole


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Sophie Thereau
France
Local time: 08:14
English to French
TOPIC STARTER
no misunderstanding, rather a (French?) paradox Nov 5, 2008

Nicole Schnell wrote:

AFAIK, there is no such thing as a bank / an umbrella company that would refuse to make any money due to the fact that said company only accepts one particular currency.

Any bank will convert any incoming payment into the right currency. You simply need to invoice the right amount. I recommend: http://www.xe.com/ucc/

Usually banks are charging a conversion fee in addition. If your umbrella company doesn't wish to cover the, say, 15 Euro flat fee for accepting foreign currencies, I would give this relationship with this "umbrella company" a serious second thought.


HTH

Best regards,

Nicole


Hello Nicole and thanks for your quick reply

Unfortunately there is no misunderstanding. The umbrella companies I've contacted in France and the UK are for some the most prestigious in their field and they don't want to lose time and money with exchange rates, comma.

The translation company I've contacted is American but their Barcelona office deals with me. The contact person here told me that their payment system is made in such a way that they can only pay in USD.

The trickiest part of this case is the fact that my umbrella company (like almost all umbrella companies in France) will pay me only when I reach a minimum amount (500€ VAT excluded). Some U.Cs told me that their minimum sum for triggerring payments was higher (up to 3000€). Besides, given that my only client and mission for the time being is abroad (Spain), the umbrella company refuses to take any risks and waits for the client to pay before paying me.

So, to summarize: I cannot depart from this company because they owe me money but they won't pay beacause a) the threshold is not reached (for what I could understand, issuing invoices costs them money and under 500€ it is not worth the effort) and b) my client is not in France.

Useless to say that it is a rather complicated situation, hence my request for an umbrella company accepting USD payments. If you know one, please let me know ASAP of its contact details!

Kind regards

Sebastien


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