What is best to avoid bank fees: Paypal, Moneybookers?
Thread poster: Catherine Gorton

Catherine Gorton
Local time: 18:17
French to English
+ ...
Jul 20, 2007

Hi, I live in the UK and my French customer accepted to pay in GBP upon reception of the invoice. However, I still get charged 7 GBP per payment through my bank. The reason for this (though the customer also pays bank fees) is that my bank and their bank don't work together but via another bank. I don't know a lot about Paypal or Moneybookers. Can I avoid having this additional fee of 7 GBP each time I receive a payment? I am only a part-time translator (evening) as I take care of my baby son, so every penny counts! If I did want to apply for some small jobs advertised on Proz (under 50 EUR for example) this fee would really hit me hard!
I do have a bank account in EUR (Germany) but I think for tax reasons I ought not to use it, or am I wrong?

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Steven Capsuto  Identity Verified
United States
Local time: 13:17
Member (2004)
Spanish to English
+ ...
Moneybookers has lower fees Jul 20, 2007

These days I use Paypal only if Moneybookers is not an option.

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Marie-Hélène Hayles  Identity Verified
Local time: 19:17
Italian to English
+ ...
Moneybookers Jul 20, 2007

As far as I am aware it's cheaper than Paypal for you and your client, so everyone's happy.

Having said that, I don't see why you can't use your German bank account - you'll still be declaring the income, surely? However, you might still be charged a transfer fee anyway, just because it's overseas. I know Italian banks charge to accept overseas payments, whatever the currency.

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Trudy Peters  Identity Verified
United States
Local time: 13:17
German to English
+ ...
To add to what Marie-Hélène said Jul 20, 2007

You can let the money in your German account accumulate until it reaches a certain amount, and then make a transfer. This way you wouldn't have to pay the transfer fee for every "piddly" amount.

That's what I do with my German account.

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Dinny  Identity Verified
Local time: 20:17
Italian to Danish
+ ...
I think Moneybookers is cheaper Jul 21, 2007

I used to use both PayPal and Moneybookers. The ordinary PayPal account doesn't charge you to receive money and you pay 1 Euro for transfers to your own bank account only if you transfer less than 100 euro.
Then one day somebody paid to my PayPal account with a credit card. To receive the money I had to upgrade my account to a premium account and since I urgently needed the money I accepted to do this (otherwise I would have had to reject the payment). However, now with the Premium account I pay a fee every time somebody makes a payment to my PayPal account, so I prefer to use Moneybookers, although Moneybookers charge 1,80 euro to transfer amounts to my bank account whatever the amount.

If you use an ordinary PayPal account I think it is the cheapest - just don't ever upgrade to Premium!

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Elizabeth Ardans  Identity Verified
Local time: 14:17
Member (2005)
English to Spanish
+ ...
Paypal... Jul 21, 2007

I'd say Paypal is cheaper (actually free) if you have a personal account. You can receive, send and withdraw money (at least to US bank accounts) without paying anything, but as Dinny says, you can't upgrade (which means you can't accept payments with debit or credit card).

I read somewhere (but I'm not sure how it works) that you can have 2 Paypal accounts, one personal and one premium, and use the later just to receive credit card payments (paying the corresponding fees) without affecting other payments you receive in your personal account. Maybe you should check this option too.

I've been using Paypal for several years now, and I have no complaints

Good luck!

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