Home – New Forums Selling online Fees for accepting international money transactions

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  • #987819
    Anonymous
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    Hello all.

    I have an online business based in Australia that currently sells only to people based in Australia. We are in the process of setting our selves up so that we can sell our products to people in New Zealand as well but I am having a hard time getting my head around the fees associated with accepting payments from New Zealand. Currently my bank (Commonwealth) has suggested that we will be charged a $20 fee every time a customer from New Zealand pays for a product. We have looked into setting up a New Zealand bank account but the fees associated with this are also proving to be quite extensive.

    Can anyone offer any advice on how to best set up a system to accept payments from New Zealand based bank accounts and not pay these exorbitant fees?

    Thank you for any advice you may offer.

    Mike.

    #1164437
    Anonymous
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    Hi Mike,

    Welcome to Flying Solo, and apologies that your first post got held up in our moderation queue for a while there.

    Fingers crossed someone around here will be able to help you with a less expensive alternative to the one you’ve outlined!

    Good luck,
    Jayne

    #1164438
    John Debrincat
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    mikew, post: 190273 wrote:
    Hello all.

    I have an online business based in Australia that currently sells only to people based in Australia. We are in the process of setting our selves up so that we can sell our products to people in New Zealand as well but I am having a hard time getting my head around the fees associated with accepting payments from New Zealand. Currently my bank (Commonwealth) has suggested that we will be charged a $20 fee every time a customer from New Zealand pays for a product. We have looked into setting up a New Zealand bank account but the fees associated with this are also proving to be quite extensive.

    Can anyone offer any advice on how to best set up a system to accept payments from New Zealand based bank accounts and not pay these exorbitant fees?

    Thank you for any advice you may offer.

    Mike.

    Wow $20 / transaction that seems to be wrong and very excessive are you sure that you did not misunderstand them?

    You could just use PayPal for international as they charge a fixed transaction fee and will settle to your bank I think it is 3.4% + 30c / transaction for non-Australian funds.

    We use the NAB and get payments from NZ the fees are generally a dollar or 2 certainly not anything like that.

    You said paid by NZ based bank accounts but I am assuming that you are being paid by credit card?

    John

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