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Foreign clients & bank charges

  • 19-02-2017 11:42am
    #1
    laraido
    Registered Users, Registered Users 2 Posts: 76 ✭✭


    I'm a sole trader freelancer, looking for advice on receiving payment via electronic bank transfer from UK and US clients and charges incurred. My bank (BOI) has said there's no extra charge from their end, that any costs would happen from clients end. I'm looking into using 'TransferWise' but before I mention to clients, any advice would be welcome.
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  • #2
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    laraido wrote: »
    I'm a sole trader freelancer, looking for advice on receiving payment via electronic bank transfer from UK and US clients and charges incurred. My bank (BOI) has said there's no extra charge from their end, that any costs would happen from clients end. I'm looking into using 'TransferWise' but before I mention to clients, any advice would be welcome.

    Know what currency your people are paying you in. It might take be a charge per second but if you get a transfer in in sterling well BOI will exchange it taking their cut from the bid offer spread.

    It's not an 'extra charge' but it's a charge of 2-3%.


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