Home – New Forums Money matters Receiving payment from overseas clients

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  • #977982
    riteshramesh
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    I would like to know what options other small business are using to receive payments for services rendered to overseas clients. I looked at the banks and PayPal both seem quite expensive. They are both charging around 3% to receive and convert to Australian dollars. (Mainly interested in payments from the US, if that helps)

    Anyone in similar circumstances know of any cheaper alternatives to getting paid form overseas clients?

    #1103905
    TehCamel
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    i have one major client in the uk – they deposit straight into my AUD bank account.
    I probably take a bit of a hit for forex rates, but that’s just what happens.

    And I have some other US clients (and work via freelancer/odesk/guru) and get paid via Paypal..
    I just have a USD-based paypal account. once i have big chunks, I convert it over and withdraw it

    #1103906
    bridiej
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    Use Tranzfers http://www.tranzfers.com/

    Your client pays via them, there is a fee but I believe they can choose that the fee is paid by you.

    #1103907
    King
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    I get their CC number and do the CC transaction based on the current rate on XE.com which seems to be about the most accurate true current market rate. (According to a mate who works in a bank’s treasury department).

    There are a plethora of transfer services available. Just take good note on
    a) fees charged
    b) rate of exchange offered

    One or the other, or both could be a game changer for you.

    Generally paypal’s exchange rate is lousy

    #1103908
    On-the-move
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    The sender of the transfer generally can nominate who pays the fee for the transaction if conducted online via Telegraphic Transfer. If the sender nominates to pay the transaction charges then your bank will generally only a charge a fee for receipting the payment.

    Perhaps you need to push the onus back onto your clients to pay for any transaction costs or alternatively you could hold the money in an overseas account or have the client pay several invoices at once to reduce transaction costs.

    Darcy Bookkeeping & Business Services
    http://www.darcyservices.com.au

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