Paypal tips
Thread poster: Cory Ohira

Cory Ohira

Local time: 09:23
Japanese to English
Feb 3, 2016

Hey there
I really dislike how when you get paid in a foreign currency Paypal takes away a lot from the salary. Does anyone have any tips on how to reduce the Paypal processing fee??

Thank you


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Rita Pang  Identity Verified
Canada
Local time: 18:23
Member (2011)
Chinese to English
+ ...

Moderator of this forum
Payoneer Feb 3, 2016

Consider using an alternative form of payment like Payoneer, Moneybookers, or even direct bank deposits. You'll have to find out all the details to see which one works best for you. I've just started using Payoneer and so far I do see an advantage of it over PayPal as it charges a smaller cut (about 1.5% in comparison to PayPal's 3.9% in my case).

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Cory Ohira

Local time: 09:23
Japanese to English
TOPIC STARTER
Payoneer/Paypal Feb 6, 2016

Thank you for your reply. Payoneer sounds good for sure and I think I might use it more for personal matters. But I'm not sure whether I can ask my employers/agents to get a payoneer account just for my sake. Grrr.
Thanks a lot for your tip!


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Andrea Halbritter  Identity Verified
France
Local time: 00:23
French to German
+ ...
Banktransfer Feb 6, 2016

I only accept banktransfer in my currency.

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mariealpilles  Identity Verified
France
Local time: 00:23
Member (2014)
English to French
+ ...
PayPal? Feb 7, 2016

I only accept bank transfers too. I see no reason why I should have to pay for being paid. PayPal is not exactly without flaw, at least in Europe and bank transfers are safer. And at least there will be no excuse like "we need another 3 days to check", "this may be money laundering because you have been receiving too much money via this account", "you need to be verified".....

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Gabriele Demuth  Identity Verified
United Kingdom
Local time: 23:23
Member (2014)
English to German
Banktransfer Feb 7, 2016

I have removed my willingness to accept Paypal from my invoices and expect European clients to pay into my Sterling or Euro accounts.

As my UK bank charges a small fee for a US$ account and I hardly had any US clients I didn't open one, so US clients pay me via Paypal. However, I have to reassess whether it would be worth opening one now and whether it would be as easy and cheap (as within Europe) to pay me into a US$ account at my UK bank?


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Mirko Mainardi  Identity Verified
Italy
Local time: 00:23
Member
English to Italian
+ ...
Not sure Cory lives in Europe... Feb 7, 2016

If Cory doesn't live in Europe, then the whole SEPA thing for bank transfers doesn't really apply, and besides, since he translates from Japanese, probably many of his customers are from Japan. In short, bank fees (transfer + conversion) might be much higher than the conversion fees applied by PayPal...

That said, some customers are willing to cover transfer fees (also using transfer methods that don't incur additional fees on the receiving end), some others are not...


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Andrea Halbritter  Identity Verified
France
Local time: 00:23
French to German
+ ...
Banktransfer also with customers in Africa, Asia und America Feb 7, 2016

I do also have customers all over the world (Madagascar, China, Hongkong, Canada...). They all pay me in € per banktransfer. I do not see why I should pay the fees via Paypal because it's easier for them.

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Mirko Mainardi  Identity Verified
Italy
Local time: 00:23
Member
English to Italian
+ ...
Same as with rates, then... Feb 7, 2016

Andrea Halbritter wrote:

I do also have customers all over the world (Madagascar, China, Hongkong, Canada...). They all pay me in € per banktransfer. I do not see why I should pay the fees via Paypal because it's easier for them.


Then it all boils down to the same reasoning behind the ever-recurring discussion about rates: I set the conditions, not the client (be they an agency or end-client). That makes perfectly sense, of course. The only small issue lies in finding clients willing to accept all of your conditions without so much as batting an eye.

In Corey's case, I would imagine that would imply writing off all (or most) of his clients who use PayPal and finding new ones...


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Angie Garbarino  Identity Verified
Local time: 00:23
Member (2003)
French to Italian
+ ...
Bank fees for transfers outside Europe Feb 7, 2016

Andrea Halbritter wrote:

I do also have customers all over the world (Madagascar, China, Hongkong, Canada...). They all pay me in € per banktransfer. I do not see why I should pay the fees via Paypal because it's easier for them.


Bank fees from those countries are higher than the Paypal ones, not sure if you have some agreement with your bank, but in my case I experienced very high bank fees for transfers outside Europe.

Also, there is nothing wrong in making things easier for clients, as long as they pay on time with fair rates and fair terms, at least in my opinion.

[Edited at 2016-02-07 13:27 GMT]


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Andrea Halbritter  Identity Verified
France
Local time: 00:23
French to German
+ ...
Customers pay the bank fees Feb 7, 2016

The bank fees are paid by my customers not by me.

Also as a cooperative with nearly 200 people it would we difficult for us to propose Paypal payment...

[Modifié le 2016-02-07 16:27 GMT]


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Rita Pang  Identity Verified
Canada
Local time: 18:23
Member (2011)
Chinese to English
+ ...

Moderator of this forum
That's an ideal reality Feb 7, 2016

Andrea Halbritter wrote:

The bank fees are paid by my customers not by me.

Also as a cooperative with nearly 200 people it would we difficult for us to propose Paypal payment...

[Modifié le 2016-02-07 16:27 GMT]


Note: I am referring to your case where you are able to ask your clients to pay you directly into your bank account. For many of us who are based out of the Euro zone, it costs way too much (for both the client and myself) to go with bank transfers.

Cory, my clients are primarily based in North America and some are in Asia. I am fortunate enough to have three bank accounts which can accept CAD, USD, EUR and HKD, and whose fees are relatively minimal. I've had to pay quite a bit one time for a client who paid me in GBP (into my EUR account), and even though we tried our best to work out the fee structure, both my client and myself ended up having to bear extra costs as the percentage charged at the end was more than our calculations.

PayPal is convenient but its flaws are obvious (high rates, takes quite a chunk out of the transfer, low currency conversion rates etc). For my clients based in the US, PayPal works best for them, and costs both of us very little. My clients in Asia all pay directly into my bank account; same for my clients in Europe.


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Angie Garbarino  Identity Verified
Local time: 00:23
Member (2003)
French to Italian
+ ...
Usually both Feb 7, 2016

Andrea Halbritter wrote:

The bank fees are paid by my customers not by me.

Also as a cooperative with nearly 200 people it would we difficult for us to propose Paypal payment...

[Modifié le 2016-02-07 16:27 GMT]


This is a bit strange, because usually they pay their fees and you have to pay yours, but like I said you can have special agreements...


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