Payment to credit card
Thread poster: Alexandra Bühler

Alexandra Bühler  Identity Verified
Germany
Local time: 20:01
English to German
+ ...
Jan 28, 2004

Hi there,

I'm wondering if it makes sense to get paid by wire tranfer to my credit card. I have one client in the Far East, and to save transfer cost I thought this might be a cost-efficient solution.

Does anybody know if there will also be fees that I have to bear when receiving payments via my credit card?

Thanks for infos!

Alexandra


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Ralf Lemster  Identity Verified
Germany
Local time: 20:01
English to German
+ ...
Check with your CC company Jan 30, 2004

Hi Alexandra,
I think the issuer of your credit card is the only entity that can give you a definitive answer on this one. When you contact them, make sure to emphasise that you're talking about incoming international payments.

HTH, Ralf


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Alexandra Bühler  Identity Verified
Germany
Local time: 20:01
English to German
+ ...
TOPIC STARTER
I asked them but ... Jan 30, 2004

Ralf Lemster wrote:

Hi Alexandra,
I think the issuer of your credit card is the only entity that can give you a definitive answer on this one. When you contact them, make sure to emphasise that you're talking about incoming international payments.

They say they only charge 1,5% of the total sum, but I cannot imagine that these are the only costs I have to pay ... what about the bank from whích my client transfers the money?
HTH, Ralf


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Ralf Lemster  Identity Verified
Germany
Local time: 20:01
English to German
+ ...
Payer's bank Jan 30, 2004

Hi again,
They say they only charge 1,5% of the total sum, but I cannot imagine that these are the only costs I have to pay ... what about the bank from whích my client transfers the money?

Good point - this depends on how your client issues the payment instruction. The standard instruction is a "shared" payment, where each party bears the costs charged by its bank - in which case you would "only" be charged 1.5% (which is quite substantial, unless you're talking about small payments). However, if your client refuses to pay any fees, you will be charged with their bank's fees, too - in the case of international transfers outside the EU, these can be substantial (up to EUR 50, depending on the countries and the number of banks involved).

HTH, Ralf


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