Best payment method - feedback needed
Thread poster: Josephine Cassar

Josephine Cassar  Identity Verified
Local time: 03:24
Member (2012)
Italian to English
+ ...
Mar 12, 2013

Hi all,
I know this topic has been covered but last posting seems to be 2003 so things and charges and methods must have changed since then. I would like to know which payment method you find best: PayPal has charges, which need to be included, cheques/bank drafts- you do not know if these arrive and still have charges. I wonder if money transfer exists but you have to give out some personal details which I find worrying. Also do you ask payment in advance or accept being paid some 30 days later when it is the first time you do some work for a company?

Any suggestions welcomed and thank you all in advance.
Josephine Cassar


 

Jenn Mercer  Identity Verified
United States
Local time: 21:24
Member (2009)
French to English
Where are you? Mar 12, 2013

In the U.S., I have found that PayPal and checks are neck and neck, while in Europe, bank transfers seem to have the lead.

 

Josephine Cassar  Identity Verified
Local time: 03:24
Member (2012)
Italian to English
+ ...
TOPIC STARTER
Where are you? Mar 12, 2013

In Malta, i.e. Europe. Bank transfers means giving out info and the outsourcer pays the charges, so long the cheque is made out in Euro. The outsourcer gave me the website, telephone address, email address, so I suppose it is ok. I do not really want to give out personal details. thank you, however.

 

Josephine Cassar  Identity Verified
Local time: 03:24
Member (2012)
Italian to English
+ ...
TOPIC STARTER
Payment method Mar 12, 2013

Hi again,

What do you think about MoneyBookers? How does it work- info, charges?

Thanks all


 

Samuel Murray  Identity Verified
Netherlands
Local time: 03:24
Member (2006)
English to Afrikaans
+ ...
Some comments Mar 12, 2013

Josephine Cassar wrote:
I wonder if money transfer exists but you have to give out some personal details which I find worrying.


You are a business, and businesses have nothing to hide. If you do not want to provide your personal information, then register yourself as a small company and provide your company's information to clients instead.

Also do you ask payment in advance or accept being paid some 30 days later when it is the first time you do some work for a company?


In theory you can ask for payment in advance, but I think you'll find that you'll get more work if you're prepared to take more risk (but: a reasoned, calculated risk) when dealing with new clients. Do not work for clients whose contact details you do not have and whose identity you are not certain of, and if you're still concerned, do only small jobs initially.

I would like to know which payment method you find best: PayPal has charges, which need to be included, cheques/bank drafts- you do not know if these arrive and still have charges.


All international payment methods have charges for either you or the payer or both of you. Some payment systems pass on most or all of the cost to the payer, and some pass most of it off to you (this is why a payment method may seem cheap to one party but expensive to the other).

Ask your local bank how much they charge for cashing a foreign cheque -- if you're in Europe, it may be quite a lot and it may be cheaper to accept payment by direct bank transfer, PayPal or Moneybookers. Note that if you use PayPal or Moneybookers, you still have to transfer the money into your own bank account, and that may incur the same cost as a direct bank transfer might have. Ultimately, transaction fees are part of the cost of doing business (and depending on your country's tax system, you might not even have to pay income tax on it).


 

Woodstock  Identity Verified
Germany
Local time: 03:24
Member (2005)
German to English
+ ...
If the transaction will be within the Eurozone Mar 12, 2013

use the bank transfer method, it's generally cheaper than Paypal or similar services, if not free. You normally don't need to be too concerned about confidentiality in regard to deposits, i.e. payments INTO your account. What you have to watch is withdrawals FROM your account, and the assumption is that you keep track of transactions and would notify your bank immediately if something is off. In addition, I have found that at least in Germany, the TAN generators are quite safe for paying bills by bank transfer, as the number is generated randomly for EACH transaction, therefore the risk is quite low. If you are concerned or unsure, check with your bank about their security measures. I have no problem supplying my bank info to clients, because any abuse would be easy to catch.

 

Clive Phillips  Identity Verified
United Kingdom
Local time: 02:24
Member (2009)
German to English
+ ...
Am trialling a new kid on the block Mar 12, 2013

Tired of seeing earnings eaten away by PayPal fees and bank charges, I am currently road-testing a firm based in New Zealand which seems rather promising for both translation agency and freelance translator. Both need to register.

Early days yet, I have received only one payment from a (smallish) agency who, at my suggestion, were happy to register. It went through relatively quickly, the exchange rate seemed fairly reasonable and there was no fee. (It would have been quicker but the agency allegedly made a mistake in the bank details submitted.) Another (large) translation agency on my customer base was not prepared to try the firm, though, at least not for the present.

The firm does require you to provide some ID before permitting payments above a (low-ish) threshold. Also, from 1 Apr 2013 the firm will levy a small fee for small payments (e.g. 1.99 GBP for payments less than 250 GBP received in UK).

According to the firm, "there are also no receiving fees charged for receiving money into many countries (USA, Canada, all of Europe, UK, some Middle East countries, Singapore, Hong Kong, Australia, New Zealand and others). In some other countries, local banks may still charge a receiving fee — this is not normally more than a few dollars."

I am wary ("no such thing as a free lunch!") but the firm seems, as far as I can judge, reputable and trustworthy with good security. So far I have seen nothing to deter me from continuing to try them out: http://bit.ly/WlwzYk


 

David Wright  Identity Verified
Austria
Local time: 03:24
German to English
+ ...
Bank transfer Mar 13, 2013

Within the EU, bank transfers are very cheap, indeed in most cases free. The only information you are giving your client is the details of your bank account, and there's not much he/she can do with that assuming your bank applies the usual security measures. I've been using bank transfers exclusively for a good 30 years and have never ever had a problem. All other methods involve someone somewhere (usually you!) paying quite a lot.

 

Michal Fabian  Identity Verified
Canada
Local time: 21:24
Member (2012)
Dutch to Slovak
+ ...
Moneybookers Mar 13, 2013

Josephine Cassar wrote:

Hi again,

What do you think about MoneyBookers? How does it work- info, charges?

Thanks all


A nice (better) alternative to PayPal indeed - receiving funds is free, withdrawing is 1.80 EUR for each.

Bank transfer is still definitely a favorite within EU, but if you're looking for an alternative to PayPal, Moneybookers (recently rebranded as Skrill) is a good option.


 

Ty Kendall  Identity Verified
United Kingdom
Local time: 02:24
Hebrew to English
There's no danger in wire transfers... Mar 13, 2013

Josephine Cassar wrote:
I wonder if money transfer exists but you have to give out some personal details which I find worrying.
Josephine Cassar


You only have to give out your IBAN and BIC. There's nothing dangerous about broadcasting these.


 

nordiste  Identity Verified
France
Local time: 03:24
English to French
+ ...
Bank transfer inside the euro zone or to euro accounts Mar 13, 2013

David Wright wrote:

Within the EU, bank transfers are very cheap, indeed in most cases free. The only information you are giving your client is the details of your bank account, and there's not much he/she can do with that assuming your bank applies the usual security measures. I've been using bank transfers exclusively for a good 30 years and have never ever had a problem. All other methods involve someone somewhere (usually you!) paying quite a lot.


Yes, definitely.

From my bank in France receiving and sending a euro transfer is free - more precisely it is part of my annual bank fee package (100 € or so) including also Visa Credit card, internet access, insurance etc.

The keyword here is "euro account".
I once had to pay a colleague in UK for proofreading, I transfered euros with no fee on my side and he received the same exact euro amount on his account. Although UK is not (yet ?) a member of the Eurozone.




[Edited at 2013-03-13 08:35 GMT]


 

Josephine Cassar  Identity Verified
Local time: 03:24
Member (2012)
Italian to English
+ ...
TOPIC STARTER
Bank transfer Mar 13, 2013

Thank you all very much for your contribution. Seems like bank transfer so far is the best option. Many thanks for taking the trouble to answer.
Good day to all


 
PayPal and Bank Transfers Mar 14, 2013

Have to say, Bank transfer FTW.

Within my company, we do things only through PayPal and Bank transfers. PayPal is really convenient, but costs a little, so for payments to translators of more than $500 we usually require bank transfers.


 

Susanna Garcia  Identity Verified
Local time: 02:24
Italian to English
+ ...
Best method Mar 14, 2013

Sottobanco!

 


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