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Thread poster: Vito Smolej

Vito Smolej
Germany
Local time: 09:53
Member (2004)
English to Slovenian
+ ...
Aug 28, 2007

or: pick the finger...


As soon as possible, we would like to encourage vendors to make arrangements so that they may quickly, easily, and affordably deposit US Dollar checks. Bank accounts with this capability are available in most international banks and most countries worldwide. Wire payments and payments by Paypal are special requests that require approximately 10 times more processing time than payment via check. Therefore, in 2007 we may be forced to charge administrative fees for the processing of such payments. Please consider making the appropriate banking arrangements so that depositing US Dollar checks is as convenient as possible.

I made the appropriate banking arrangements, and it takes 15EUR to deposit a check in my bank (not to mention the forex costs).

Its clear that the agency wants to minimize its costs and streamline the operation. Fine with me. Except it looks like marines will have to take Bruxelles (on their way to Den Haag) before the agency realizes Swift could be a feasible way to keep us little fish happy.

The way it is, however, it looks to me like i) graft (from the banks) and ii) in your face (from the agency).

What's your way around paying these bozo rates?

end of rant and regards

Vito

PS: sorry Ralph, I apologize for not scouring through existing postings but it must be a recurring theme anyhow.

[Edited at 2007-08-28 09:34]


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Sonja Tomaskovic  Identity Verified
Germany
Local time: 09:53
English to German
+ ...
Used PayPal, and now...? Aug 28, 2007

I used to work with PayPal on client's request, but that is no option any more as they charge much more than the 15 € for the check.

Actually I am at a loss what to do now. Most US customers just don't consider bank transfer a good option, checks are commonly used and only a few of them use PayPal/Moneybookers.

I guess I'll probably stay with checks and increase my rates to cover the 15 € clearance fee.

Sonja


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Harry Bornemann  Identity Verified
Mexico
English to German
+ ...
I try to keep the percentage low Aug 28, 2007

Vito Smolej wrote:
What's your way around paying these bozo rates?

For the U.S., I accumulate the amounts for a monthly invoice or up to USD 800, where all payment options cost about the same.
(USD 40 for a wire transfer to Germany (same as Paypal), or EUR 15 to deposit a check + USD 10 for a registered letter, or similar amounts for Western Union or Moneygram).

My U.K. customers are happy with Moneybookers since I told them I won't accept Paypal anymore.

EU customers in general have only minor wire transfer costs.

I am still looking for someone from the U.S. who could tell me all about the problems using Moneybookers from the U.S., I think there are a lot of hidden costs and restrictions.


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Hester Eymers  Identity Verified
Netherlands
Local time: 09:53
Member (2005)
English to Dutch
+ ...
Figure out the cheapest option Aug 28, 2007

Hi Vito,

Sounds very familiar - I guess were working for the same agency.

I decided to stick with PayPal and upload my invoices only when they have accumulated to a sufficient amount. That way they can be settled with one e-check, which reduces the cost (=only one time the administrative fee). I have also raised my rates slightly, so as to cover this administrative fee.

It took some calculating to figure out the cheapest option (in my case), and I am already getting used to it. The friendly PM's and constant workflow this agency offers makes it still worth while working with them, I find.

Best regards,
Hester


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Vito Smolej
Germany
Local time: 09:53
Member (2004)
English to Slovenian
+ ...
TOPIC STARTER
summary so far.... Aug 28, 2007

Thanks everybody. Looks like the common sense is the easiest way to spare costs: try to consolidate your outstanding claims into single transactioons.

Which is swell, if you can invoice on a monthly basis, like lawyers do - 500.000 + expenses for instance. The realities in our kiddie league are a little different, I guess some poor SOB, getting a 50 here, a 100 there, is just as probable if not more. The sad reality probably is, that eventually she or he cant wait anymore and then pays through her/his nose.

None of my business, but all those moneys whiling away in some account, - "future liabilities" or whatever - waiting to be called off...isn't this the way Warren Buffet got his #1 rank on the list of the richest?

Regards

Vito


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Steven Capsuto  Identity Verified
United States
Local time: 03:53
Spanish to English
+ ...
Moneybookers Aug 28, 2007

Harry Bornemann wrote:
I am still looking for someone from the U.S. who could tell me all about the problems using Moneybookers from the U.S., I think there are a lot of hidden costs and restrictions.


I've been using Moneybookers from here in the States for about six months and have been very happy with it. It's certainly more economical than Paypal or wire transfers, for both incoming and outgoing payments.

Outgoing wire transfers are very impractical for clients in the U.S. unless huge amounts of money are involved. For instance, if I want to wire money to Europe, I have to pay roughly $40 to $50 on top of the wired amount... and my bank has unusually low fees for most types of transactions.


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Harry Bornemann  Identity Verified
Mexico
English to German
+ ...
Moneybookers from the U.S. Aug 28, 2007

Steven Capsuto wrote:
I've been using Moneybookers from here in the States for about six months and have been very happy with it. It's certainly more economical than Paypal or wire transfers, for both incoming and outgoing payments.

Thanks, Steven, that's interesting.
Did you upload your funds to Moneybookers via credit card?
If so, have you checked how much your credit card bank charges you additionally to the 1.9 % for moneybookers?

And what's your dispositon limit for credit card uploads?
For my private VISA card it is EUR 500 per day and EUR 1500 per week, which would hardly be enough for a medium sized agency.
Concerning the fees for using the credit card, I could not even find them - they must be hidden deeply in the small print..


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Steven Capsuto  Identity Verified
United States
Local time: 03:53
Spanish to English
+ ...
Moneybookers from the U.S. Aug 29, 2007

Harry Bornemann wrote:

Steven Capsuto wrote:
I've been using Moneybookers from here in the States for about six months and have been very happy with it. It's certainly more economical than Paypal or wire transfers, for both incoming and outgoing payments.

Thanks, Steven, that's interesting.
Did you upload your funds to Moneybookers via credit card?


Sometimes. It depends whether I already have funds in the account from an incoming payment. Frankly, I use it more for incoming funds, since I'm a freelancer, not an outsourcer.


If so, have you checked how much your credit card bank charges you additionally to the 1.9 % for moneybookers?


For the relatively small outbound transactions I'm doing, it's still cheaper than wiring money. My bank charges about $45 per transaction to wire money overseas. I've checked with several banks in my area, and the fees are about the same (occasionally higher). In that context, Moneybookers is more affordable even if I upload money using my credit card.

And what's your dispositon limit for credit card uploads?
For my private VISA card it is EUR 500 per day and EUR 1500 per week, which would hardly be enough for a medium sized agency.


That could well be. I was obviously answering from my perspective as a freelancer. When I send money to other translators or editors, it's usually under $300.

[Edited at 2007-08-29 13:21]


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