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Poll: What's your preferred means of making / receiving international payments?
Thread poster: ProZ.com Staff
ProZ.com Staff
Local time: 07:46
SITE STAFF
Oct 21, 2007

This forum topic is for the discussion of the poll question "What's your preferred means of making / receiving international payments?".

This poll was originally submitted by jkeady

View the poll here

A forum topic will appear each time a new poll is run. For more information, see: http://proz.com/topic/33629


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Nesrin  Identity Verified
United Kingdom
Local time: 15:46
English to Arabic
+ ...
Moneybookers/Paypal Oct 21, 2007

... should have been one option really. For me it's one or the other.

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Magda Dziadosz  Identity Verified
Poland
Local time: 16:46
Member (2004)
English to Polish
+ ...
Wire transfer Oct 21, 2007

Wire transfer costs me nothing to receive it, no matter from where and in what currency and costs very small if I send it. Plus it is very fast.

Moneybookers is number two, because again it doesn't cost much and is practically instant.

Paypal is just too funny with their exaggerated fees and requirements.

Magda


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Rolf Kern  Identity Verified
Switzerland
Local time: 16:46
English to German
+ ...
It depends Oct 21, 2007

It depends on the country of the client.

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Fabio Descalzi  Identity Verified
Uruguay
Local time: 11:46
Member (2004)
German to Spanish
+ ...
Bank transfer Oct 21, 2007

By far!

Option No. 2: Paypal or Moneybookers, any of both.


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Jim Tucker  Identity Verified
United States
Hungarian to English
+ ...
Recommend a bank! Oct 21, 2007

Magda Dziadosz wrote:

Wire transfer costs me nothing to receive it
Magda


Magda, this sounds great - can you recommend a bank or two that has this policy? Seriously - I have been paying $10 a shot for receiving transfers, which adds up if you do it 40 or 50 times a year.

Jim


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Astrid Elke Witte  Identity Verified
Germany
Local time: 16:46
Member (2002)
German to English
+ ...
It depends on whether you are receiving or paying money Oct 21, 2007

As far as I can figure out, from expensive experience:

PayPal is extortionately expensive if you are the one receiving money, but not if you are the one sending money.

Moneybookers is the other way about: it costs money to send money, but only a few coppers to receive it.

Astrid


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Hila A
Local time: 22:46
Member (2007)
English to Tagalog
+ ...
Wire transfer Oct 21, 2007

I accept payment through Moneybookers and PayPal for small jobs, but for big jobs, I usually request payment through wire transfer. Though I'm the one paying for bank charges, I still prefer wire transfer cause its conversion rate is higher compared with Moneybookers'. I don't know yet about PayPal's.

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Robert Forstag  Identity Verified
United States
Local time: 10:46
Member (2003)
Spanish to English
+ ...
Has anyone from US opened a foreign bank account? Oct 21, 2007

If so, how much does this cost? Does is cost as much for clients to wire money to a European account (i.e., if they are in Europe) than it does to wire funds to a US bank account? Is it even necessary to wire funds, or could a client in, for example, Holland, send funds to a Dutch bank with a completed deposit slip?

Then the other question: How can someone in the US withdraw money from such an account?

Responses appreciated.

Bob


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Beatriz Galiano
Argentina
Local time: 11:46
English to Spanish
+ ...
Banks, banks, banks... Oct 22, 2007

My account is with a regional bank in my country, yet, I can receive deposits from everywhere, if it was a top international bank, I guess it'd charge accordingly and that would be some 5 dollars or more, I remember from some time ago, I do not know right now, I dont have that account anymore, I guess it was not the ideal one for me, maybe for some other people it's ok, I imagine that if you invest in stocks then you can afford a five dollar fee for a transfer, not my case.

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Sandra Petch
Local time: 16:46
French to English
+ ...
Bank charges Oct 22, 2007

Jim Tucker wrote:

Magda Dziadosz wrote:

Wire transfer costs me nothing to receive it
Magda


Magda, this sounds great - can you recommend a bank or two that has this policy? Seriously - I have been paying $10 a shot for receiving transfers, which adds up if you do it 40 or 50 times a year.

Jim


I'm interested too! My bank charges me 16 euros to receive a payment in euros by transfer and yes it DOES add up! Isn't there some quote about the shocking way banks make money... ?!!

[Edited at 2007-10-22 06:55]


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Oleg Rudavin  Identity Verified
Ukraine
Local time: 17:46
Member (2003)
English to Ukrainian
+ ...
Have you checked other banks? Oct 22, 2007

Sandra Petch wrote:
My bank charges me 16 euros to receive a payment in euros by transfer and yes it DOES add up!


While opening an account recently for a new affiliate of my company in a EU country I visited a few banks and learned that the terms they offer may vary a lot - like, your expenses on receiving a wire transfer, fees for maintaining the account(s), etc. I guess ieach bank will identify its own fees and charges. Of course there may be differences between countries either... but aren't EU countries harmonizing their standards and procedures, including those related to banking services?

Cheers,
Oleg

[Edited at 2007-10-22 07:08]


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Sandra Petch
Local time: 16:46
French to English
+ ...
Bank charges 2 Oct 22, 2007

Oleg Rudavin wrote:

Sandra Petch wrote:
My bank charges me 16 euros to receive a payment in euros by transfer and yes it DOES add up!


While opening an account recently for a new affiliate of my company in a EU country I visited a few banks and learned that the terms they offer may vary a lot

Cheers,
Oleg

[Edited at 2007-10-22 07:08]


Hi Oleg

You're right, fees do vary a lot and my bank is known as being one of the more expensive. What holds me back is that I have so many standing orders on that account for tax payments, social security and retirement contributions and the like, it seems like a lot of admin to transfer them all to a new account... though possibly worth the hassle in the long run... !


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French Foodie  Identity Verified
Local time: 16:46
French to English
+ ...
believe it or not... Oct 22, 2007

Sandra Petch wrote:

I'm interested too! My bank charges me 16 euros to receive a payment in euros by transfer and yes it DOES add up! Isn't there some quote about the shocking way banks make money... ?!!

[Edited at 2007-10-22 06:55]


Hi Sandra! I'm at La Poste of all places (most convenient when you live in a tiny village with no banks). It costs me around 3 euros to send a transfer within the euro zone. I receive transfers from the UK fairly regularly and it doesn't cost me a penny. You might want to look into it...


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Sandra Petch
Local time: 16:46
French to English
+ ...
Post Office Oct 22, 2007

Mara Bertelsen wrote:


Hi Sandra! I'm at La Poste of all places (most convenient when you live in a tiny village with no banks). It costs me around 3 euros to send a transfer within the euro zone. I receive transfers from the UK fairly regularly and it doesn't cost me a penny. You might want to look into it...


Hi Mara and thanks, I will look into that (plus I have a PO at the end of my street!)


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