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Telegraphic transfer or bank draft from HK?
Thread poster: elle_bi

elle_bi  Identity Verified
Local time: 13:24
English to Italian
+ ...
Jul 6, 2005

Hi everybody,

for the first time I have done a translation for an agency from Hong Kong. Now they ask me whether I prefer to be paid by telegraphic transfer or bank draft (I'm in Italy), and I have no idea of the fees (if any) the bank may charge. Has any of you any idea of which would be the best option? Thanks!

P.S. I've called my Bank and they don't even know what a telegraphic transfer is, let alone the fees...

[Edited at 2005-07-06 07:30]


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Burkhard Ziegler  Identity Verified
Germany
Local time: 13:24
Russian to German
+ ...
Applicable SWIFT transfer and Western Union; customer should pay transfer fees Jul 6, 2005

Hi,
telegraphic bank transfers are something obsolete; now the common practice is a SWIFT Transfer; however, it's quite expensive; if all fees are charged on your account (BEN transfer, there exist other fee regulations as "OUR" and "SHARE"), a minimum charge may start at 25 ... 30 EUR

There is made a differenciation into express transfer, phone advice...

Another method of payment is Western Union (you have to pick up money from a Western Union location quoting the transfer number and presenting your ID). It's expensive, too.

However, there have been many discussions which party shall bear the fees of the transfers. As I presume, the majority of translators wants the customer to bear the fees, just check this forum and "business issues".

Other options are Moneybookers or Paypal.


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elle_bi  Identity Verified
Local time: 13:24
English to Italian
+ ...
TOPIC STARTER
thanks Jul 6, 2005

for your answer. I had proposed to be paid by Paypal, but the only options this agency gives me are either a telegraphic transfer or a bank draft...

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chica nueva
Local time: 01:24
Chinese to English
TT Jul 6, 2005

Perhaps these refs might help?

More about Business BankingA) Sending Telegraphic Transfer (TT) to other countries. ... Beneficiary Bank : HSBC, HONG KONG; Beneficiary account number (for integrated account please ...
www.hsbc.com.hk/hk/commercial/tool/contact/tl00907g.htm - 40k - 4 Jul 2005 - Cached - Similar pages

DBS Singapore | POSB | Payments & Transfers | Outward Telegraphic ...Outward Telegraphic Transfer. 1. What is OTT? ... At counter/phone banking, the rate indicated is 1.697 but when my TT was processed, why is a different ...
www.dbs.com/posb/payment/ additionalinfo/faq/outward/answers/ - 46k - Cached - Similar pages

St.George - Internet BankingRequest a Telegraphic Transfer (TT) To request a TT you will need the following details:. Overseas Swift code or the name, city and country of the overseas ...
www.stgeorge.com.au/int_bank/brands/ user_guide/new_help/cbank/tt.asp?origin=csg - 8k - Cached - Similar pages


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elle_bi  Identity Verified
Local time: 13:24
English to Italian
+ ...
TOPIC STARTER
Decision Jul 6, 2005

Thanks for the links. I have opted for the telegraphic transfer: in one of the webpages it was stressed how this kind of payment is fastest and safest... and anyway the agency will pay the fee Bye

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