| Pages in topic: < [1 2] | Best way to receive international payment Thread poster: Julianne Rowland
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Steven Capsuto 
United States
Local time: 00:26
Member (2004)
Spanish to English
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Julianne Rowland wrote:
My bank charges a $10 receiving fee for international wire transfers
For what it's worth, Commerce Bank has a personal checking account that charges no fees for incoming international wires. I'm not sure if they're in your area, though.
and for one client, in particular, another $25 fee is taken out somewhere along the way - from an intermediary bank somewhere along the way, I assume.
I don't work with clients who expect me to pay their business expenses. I make it clear that I pay my own bank fees and they pay theirs. I also don't allow them to deduct "handling charges" and any other silly excuses for not paying what they owe.
Usually, my European clients pay via Paypal.
Paypal charges me a fee to convert euros to dollars, but I plan my price quotes accordingly. At present, with a weak dollar and a strong euro, there's still a decent amount of money left even after the conversion fees.
[Edited at 2007-01-17 05:48]
| | | | Julianne Rowland
United States
Local time: 00:26
Member (2006)
German to English
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TOPIC STARTER | Payment in USD | Jan 17, 2007 |
Steven Capsuto wrote:
[For what it's worth, Commerce Bank has a personal checking account that charges no fees for incoming international wires. I'm not sure if they're in your area, though.
I don't know if there is a Commerce Bank in my area, but I do most of my banking online anyway, so it may be worth looking into Commerce Bank if they are online. Thanks for the tip.
Paypal charges me a fee to convert euros to dollars, but I plan my price quotes accordingly. At present, with a weak dollar and a strong euro, there's still a decent amount of money left even after the conversion fees.
[Edited at 2007-01-17 05:48]
When I quote a price to a European client, I quote in USD and expect the client to pay me that amount, which may vary in Euros, depending on the current exchange rate. So, until now, I really haven't had dealt directly in Euros. I assume most translators quote in their local currency, correct?
As far as the fees are concerned, I realize now that the client is probably choosing to pass the cost on to me, so if we don't work out a PayPal arrangement, I will have to talk to this client about paying his share of the fees.
| | | | | Paypal - rip-off | Jan 17, 2007 |
Steven Capsuto wrote:
Usually, my European clients pay via Paypal.
Paypal charges me a fee to convert euros to dollars, but I plan my price quotes accordingly. At present, with a weak dollar and a strong euro, there's still a decent amount of money left even after the conversion fees.
[Edited at 2007-01-17 05:48]
Maybe I'm not doing the Paypal thing right, but I think that their charges can be outrageous. I was charged around € 6.50 to receive a € 120 payment from a Spanish agency. The subsequent transfer to my US account was free, but still. Sheesh!
Moneybookers is the best way to go, but not many of my clients seem to have it or know how to use it.
I have also tried checks. These are usually free to deposit, but the Euro/dollar conversion rate can sometimes be terrible, so it is often better to bite the bullet and ask for a wire transfer which costs a bit more but gives a better conversion rate.
So many choices, it's up to you. The bank is going to make some money off you no matter what you choose.
Kelly
| | | | Irene N
United States
Local time: 23:26
English to Russian
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| Paypal across the ocean | Jan 17, 2007 |
I love Paypal within the US but in receiving an equivalent of 780 USD from the UK I paid $5 + conversion fee + some percentage plus they put it on hold for 5 days on the UK end and then I had to request money transfer to my US account and wait for 2 or 3 days before the money actually hit it.
Should my colleague who was involved read it, hey, no problem:-). Everything was within the agreement, this is only a factual statement.
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IreneN wrote:
I love Paypal within the US but in receiving an equivalent of 780 USD from the UK I paid $5 + conversion fee + some percentage plus they put it on hold for 5 days on the UK end and then I had to request money transfer to my US account and wait for 2 or 3 days before the money actually hit it.
Should my colleague who was involved read it, hey, no problem:-). Everything was within the agreement, this is only a factual statement.
How do you get that rate from Paypal? According to my calculations a $780 payment would cost more than $ 22 (or $780 x 2.9% + 30 cents). Is it a special account?
I hope I'm not being indiscreet, but I would love to save some money with PayPal!
Kelly
| | | | | PayPal in Lithuania | Feb 2, 2007 |
It seems, that PayPal does not allow citizens of certain countries to receive any funds through it. I'm living in Lithuania, and my account is indicated as „Send Only“. Is there any way around that?
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