Seeking recommendations on payment options
Thread poster: CIT

CIT  Identity Verified
United States
Local time: 19:40
Member (2018)
Oct 3, 2018

Hello all,

We mostly use PayPal and wire transfers to pay our vendors, and we are wondering if there are better and less expensive options available these days. Does anyone know if there are any options that would allow us to use our business credit card to pay? I appreciate any suggestions!


 

Thomas T. Frost  Identity Verified
Member (2014)
Danish to English
+ ...
Transferwise Oct 3, 2018

You should definitely have a look at TransferWise to see if it can work for you. They are much, much cheaper than PayPal. One way they can collect payment is by ACH direct debit, which, as far as I know, is free.

Mirko Mainardi
 

Mirko Mainardi  Identity Verified
Italy
Local time: 04:40
Member
English to Italian
Agree with Thomas, but... Oct 3, 2018

I agree with Thomas, although it seems they are slowly adding/increasing fees. A few months ago they started charging for deposits made through debit/credit cards, a few days ago they introduced a (small) fixed fee for transfers. It's still way cheaper than PayPal, but if they keep adding/raising fees...

 

Thomas T. Frost  Identity Verified
Member (2014)
Danish to English
+ ...
Fees Oct 3, 2018

Their fees are still in the low end.

PayPal also silently increased their fees by more than 30% (relative per cent) as part of their T&C update in August, as if they weren't already expensive enough.


 

Thao Tran
Vietnam
Local time: 10:40
Member (2017)
English to Vietnamese
+ ...
Payoneer & Transferwise Oct 4, 2018

Hi Jose,

You can use Payoneer & Transferwise, they are much cheaper than Paypal.

Payoneer & Transferwise allow freelancers to have real bank accounts in the USA to receive payment via ACH transfer.

You can also pay via credit card with Payoneer, the fees is around 2%.

Regards,
Thao


José Henrique Lamensdorf
 

Sheila Wilson  Identity Verified
Spain
Local time: 03:40
Member (2007)
English
+ ...
ProZ Pay? Oct 4, 2018

CIT wrote:
Does anyone know if there are any options that would allow us to use our business credit card to pay? I appreciate any suggestions!

This very site offers a payment option now - ProZ Pay

It hasn't had a very auspicious launch and I'm not in a position to recommend it as I haven't even really investigated it, yet alone used it, but it's there if you're interested.


 

José Henrique Lamensdorf  Identity Verified
Brazil
Local time: 00:40
English to Portuguese
+ ...
In memoriam
Some details on Payoneer Oct 4, 2018

My references are Payoneer payments from the US/UK to Brazil. Maybe things are different elsewhere.

Fees:
They charge 1% on payments made in USD; 2% on payments made in EUR/GBP

Credit Cards:
They accept Visa and MasterCard, but NOT American Express

Time it takes:
- if you pay from your balance with them, payee's bank account is credited on the same or the next banking day
- if you pay with a credit card, payment is delayed by two day
... See more
My references are Payoneer payments from the US/UK to Brazil. Maybe things are different elsewhere.

Fees:
They charge 1% on payments made in USD; 2% on payments made in EUR/GBP

Credit Cards:
They accept Visa and MasterCard, but NOT American Express

Time it takes:
- if you pay from your balance with them, payee's bank account is credited on the same or the next banking day
- if you pay with a credit card, payment is delayed by two days, in order to "clear" (no idea on what they mean by that)
- if you pay with eCheck, it takes at least seven days to clear (I suggest you don't use it, to avoid having disgruntled translators)
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