Charges for payments from Europe to the US
Thread poster: Jennifer Baker

Jennifer Baker  Identity Verified
United States
Local time: 05:42
Member (2004)
Italian to English
Nov 3, 2006

It's me again needing more advice...
I tried a forum search with no luck-
In preparation for my move back to the US, I would like to request that my clients pay me into my US account as opposed to my Italian account. Up to now I've only received US bank wires from my US customers. I am trying to make my move as painless as possible and I don't want to ruffle anyone's feathers, so I would like to know if there is an extra cost involved here, and who pays it.
I know PayPal is pretty easy, but many of my Italian clients prefer a bank wire.
Does anyone know the fees for these types of payments?

Thanks again for everyone's time and advice!

Jennifer


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ntext  Identity Verified
United States
Local time: 06:42
German to English
+ ...
Why not keep your Italian account open for your European clients? Nov 3, 2006

Wiring money from Italy to the US will almost definitely incur a fee. While I recommend that you should require your clients to be responsible for that fee if they pay you by wire transfer, be warned that they may balk. If they want you to pay the transfer fee, you will have to raise your translation fee accordingly to avoid losing money.

However, a better solution may be to have your European clients continue to pay your Italian account. You would then initiate large transfers from your Italian to your US account from time to time. That would minimize overall transfer fees because making a few large transfers costs a lot less than making many small ones. This solution would keep the prices down for your clients while also keeping your costs to a minimum.


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Trudy Peters  Identity Verified
United States
Local time: 07:42
German to English
+ ...
Agree with Norbert Nov 3, 2006

That's the very reason why I opened an account in Germany a few years back. My "Euroland" clients can transfer the money into my German account and I make an occasional larger transfer to my account in the States, which cuts down on the costs considerably.

Also, once you are in the States, you will find that US companies are not likely to make a wire transfer to your US account. Paying by check is the norm here.

So, don't close your Italian account, Jennifer!

Good luck,

Trudy


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Jennifer Baker  Identity Verified
United States
Local time: 05:42
Member (2004)
Italian to English
TOPIC STARTER
Thanks Norbert and trudy Nov 4, 2006

That's basically what my bank suggested I do.
Thanks for the advice!

Jennifer


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Charges for payments from Europe to the US

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