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Getting paid by overseas client

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  • 25-10-2012 1:00am
    #1
    maxmarmalade
    Registered Users Posts: 86 ✭✭


    We have just completed a website for a client in New Zealand. The contract was worth 1k. Whats the best way to get paid, with the least fees? Is it still paypal?


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    #2
    onemorechance
    Registered Users Posts: 3,078 ✭✭✭onemorechance


    With a verified account and linked to my bank account, I can send money for $1 per $200. I find the currency exchange rate to be good too, better than when I used a bank.


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    #3
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    Depends on what contract you signed. Are you billing them in euros or kiwi dollars? Depending on which that party will assume the fx risk. In other words - this might be their problem rather than yours.

    If you have to do FX then use a broker for the larger amounts, never EVER use bank or postoffice for this (unless you feel a burning desire to throw 4% of your money away).


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    #4
    maxmarmalade
    Registered Users Posts: 86 ✭✭maxmarmalade


    Thanks @onemorechance, paypal seems to be way to go so.

    @srsly78 - Im billing them in euros...


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    #5
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    Did they agree to that? If so then it's up to them to put X euros in your bank account. How they do this and what fx fees they pay are not your concern. If they try to pass these fees on to you then there will be arguments.

    Paypal charge loads of fees (to the receiver not the sender I think), why would you ever use them for a routine transfer? Just get client to do a bank transfer - give them your IBAN number.


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    #6
    maxmarmalade
    Registered Users Posts: 86 ✭✭maxmarmalade


    srsly78 wrote: »
    Did they agree to that? If so then it's up to them to put X euros in your bank account. How they do this and what fx fees they pay are not your concern. If they try to pass these fees on to you then there will be arguments.

    Paypal charge loads of fees (to the receiver not the sender I think), why would you ever use them for a routine transfer? Just get client to do a bank transfer - give them your IBAN number.

    Yes client agreed to euros. Aren't the fees for an international bank transfer just as bas as paypal?


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    #7
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    Depends. Paypay charge a %. International transfers are usually just a small fee (ie not a %), thus it depends on the bank and the amount.


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    #8
    maxmarmalade
    Registered Users Posts: 86 ✭✭maxmarmalade


    srsly78 wrote: »
    Depends. Paypay charge a %. International transfers are usually just a small fee (ie not a %), thus it depends on the bank and the amount.

    Just found a helpful thread, looks like when receiving money then bank transfer is better

    http://www.ukbusinessforums.co.uk/forums/showthread.php?t=270460


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    #9
    onemorechance
    Registered Users Posts: 3,078 ✭✭✭onemorechance


    srsly78 wrote: »
    Depends. Paypay charge a %. International transfers are usually just a small fee (ie not a %), thus it depends on the bank and the amount.

    Like I said, when using my bank account, not credit card, PayPal charge $1 per $200 and that is all. Receiver does not pay anything. 0.5% charge and a good exchange rate.


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