| Pages in topic: < [1 2 3] > | best payment method apart from Paypal Thread poster: Luke Mersh
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Samuel Murray 
Netherlands
Local time: 16:48
Member (2006)
English to Afrikaans
+ ...
Luke Mersh wrote:
So in a nut shell, PayPal's fees are cheaper than Skrill?
It depends on many factors, and it can be difficult to calculate the fees in advance. I've tried to do so, based on what information I can find on their sites, in which Skrill ends up as more expensive:
* Paying USD 1000 from the USA to the UK using PayPal: If the client uploads money via a bank transfer, then the client pays USD 5 and you pay USD 30 (total USD 1035). If the client uploads money via credit card or debit card, then the client pays USD 39, and you pay USD 30.
* Paying USD 1000 from the USA to the UK using Skrill: If the client uploads money via a bank transfer, then the client pays USD 10 and you pay USD 34.89 (total USD 1045). If the client uploads money via credit card or debit card, then the client pays USD 29, and you pay USD 34.89.
* Paying USD 100 from the USA to the UK using PayPal: If the client uploads money via a bank transfer, then the client pays USD 0.50 and you pay USD 3.00 (total USD 103.50). If the client uploads money via credit card or debit card, then the client pays USD 3.90, and you pay USD 4.20.
* Paying USD 100 from the USA to the UK using Skrill: If the client uploads money via a bank transfer, then the client pays USD 1 and you pay USD 7.98 (total USD 109). If the client uploads money via credit card or debit card, then the client pays USD 20, and you pay USD 7.98.
This assumes all sorts of things, though, e.g. currency conversions and withdrawal fees. Skrill charges a withdrawal fee, but it only charges it when you withdraw money (not every time you receive money). Currency can be converted in several places, so the other party may end up paying for the conversion, depending on circumstances. Etc.
| | | | Balasubramaniam L.
India
Local time: 20:18
Member (2006)
English to Hindi
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SITE LOCALIZER | This may not possible in many countries | Jan 28, 2015 |
Sheila Wilson wrote:
If you regularly shop on a site that accepts Skrill then it follows that Skrill will be a better option than if you have to transfer the funds to your bank account; if you have a sterling bank account only, but you often have to pay for things online in euros, and your clients like to pay in euros, then it can be handy to have a PayPal EUR stream to avoid currency fluctuations. Then again, the above may not be an economically sound argument - I tend to go for convenience, even if I lose out a bit here or there.
This may not be possible in many countries. I know for sure about India. The RBI (Reserve Bank of India) has stipulated that money cannot be retained in Paypal/Skrill accounts for more than 24 hours and they cannot be used for other transactions directly from there. They need to be transferred automatically at the end of the day to bank accounts linked with the Paypal account.
The reason given for this is to prevent the use of Paypal accounts for money-laundering or for other illegal activities.
It is quite possible that such rules exists in other countries too.
| | | | Maija Cirule
Latvia
Local time: 17:48
German to English
+ ...
| PayPal drawbacks | Jan 28, 2015 |
Samuel Murray wrote: Luke Mersh wrote:
So in a nut shell, PayPal's fees are cheaper than Skrill? It depends on many factors, and it can be difficult to calculate the fees in advance. This assumes all sorts of things, though, e.g. currency conversions and withdrawal fees. Skrill charges a withdrawal fee, but it only charges it when you withdraw money (not every time you receive money). Currency can be converted in several places, so the other party may end up paying for the conversion, depending on circumstances. Etc.
One inconvenience of PayPal is the need for a Visa card to withdraw your money, it's impossible if you have a MasterCard or American Express. The second inconvenience is the fact that after your income has exceeded 2500 euros per year they block your account and require to submit a copy of your ID document and a document that certifies your address. For me, this was a genuine shock
| | | | Tom in London
United Kingdom
Local time: 15:48
Member (2008)
Italian to English
| Anything is better than PayPal | Jan 28, 2015 |
Maija Cirule wrote:
..... after your income has exceeded 2500 euros per year they block your account and require to submit a copy of your ID document and a document that certifies your address.
That was one of several reasons why I closed my PayPal account and no longer use it.
The fact that Paypal can lock an account at any time without even talking to you convinces me that it’s not worth the risk — especially since I run a business (translations).
Bank transfers, on the other hand, are fine for me because I work almost exclusively between EU Member States.
[Edited at 2015-01-28 07:32 GMT]
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Maija Cirule
Latvia
Local time: 17:48
German to English
+ ...
Tom in London wrote: Maija Cirule wrote:
..... after your income has exceeded 2500 euros per year they block your account and require to submit a copy of your ID document and a document that certifies your address. That was one of several reasons why I closed my PayPal account and no longer use it. The fact that Paypal can lock an account at any time without even talking to you convinces me that it’s not worth the risk — especially since I run a business (translations). Bank transfers, on the other hand, are fine for me because I work almost exclusively between EU Member States. [Edited at 2015-01-28 07:32 GMT]
I work with several USA companies and some of them prefer to receive an invoice within 5 days after delivery of a translation and the amounts are not very large - some 100 to 200 euros and wire transfer in such cases is expensive. In short, there exist no right answers for all cases.
| | | | Samuel Murray
Netherlands
Local time: 16:48
Member (2006)
English to Afrikaans
+ ...
Maija Cirule wrote:
After your income has exceeded [a certain amount] they block your account and require to submit a copy of your ID document and a document that certifies your address. For me, this was a genuine shock.
Tom in London wrote:
The fact that Paypal can lock an account at any time without even talking to you convinces me that it’s not worth the risk — especially since I run a business (translations).
I've heard similar stories from translators who started using CAT tools for a specific client's project (required for that project, and upon being told that it will increase their productivity) but who did not know that the final word count would be artificially reduced due to a concept that they were utterly unaware of called "weighted words" related to something called "fuzzy matching", and vowed to never use CAT tools again in translation.
When I signed up for PayPal, I already knew that my account would be blocked once I crossed the threshold, and I knew that I would have to submit additional identifying information. It's not a secret either -- their terms of usage also mention that (though I admit probably no-one reads it). In fact, it's to be expected, since PayPal is from a country whose anti-money-laundering laws would likely require a measure of diligence above a certain threshold.
[Edited at 2015-01-28 09:30 GMT]
| | | | Samuel Murray
Netherlands
Local time: 16:48
Member (2006)
English to Afrikaans
+ ...
| Withdrawal from PayPal | Jan 28, 2015 |
Maija Cirule wrote:
One inconvenience of PayPal is the need for a Visa card to withdraw your money, it's impossible if you have a MasterCard or American Express.
I tried to find information about this, and it seems that the ability to withdraw money to a credit card depends on your country of origin. In some countries, PayPal has an arrangement with Visa that some banks will honour, and in those countries you can therefore withdraw money to your Visa card if your bank allows it. However, this feature is not available in all countries.
Their FAQ for my region says that I can withdraw to a bank account, to a special "PayPal" MasterCard debit card, or to a mailed cheque. I can't withdraw to any debit or credit card. I always withdraw money straight into my bank account (it takes 2-3 days).
| | | | | For small amounts | Jan 28, 2015 |
In spite of the inconvenience, for small amounts, P2P systems like Western Union and Moneygram work well, at a low cost. As it's P2P, some individual at the client will have to act as your proxy there, and receive it in cash on your behalf, before they send you the funds personally.
Some people in some places manage to do it online + a phone call to a toll-free number. Others have to take cash to some agent of theirs. A one-night-stand client of mine said that she had to stand in li... See more In spite of the inconvenience, for small amounts, P2P systems like Western Union and Moneygram work well, at a low cost. As it's P2P, some individual at the client will have to act as your proxy there, and receive it in cash on your behalf, before they send you the funds personally.
Some people in some places manage to do it online + a phone call to a toll-free number. Others have to take cash to some agent of theirs. A one-night-stand client of mine said that she had to stand in line for two hours at the post office in Turkey to send payment via WU.
On the receiving end, the funds may land directly to a bank account, or you may have to go to a specific bank with a photo ID to withdraw them in cash.
Typical WU/MG fee is around USD 5.
Samuel Murray wrote:
When I signed up for PayPal, I already knew that my account would be blocked once I crossed the threshold, and I knew that I would have to submit additional identifying information. It's not a secret either -- their terms of usage also mention that (though I admit probably no-one reads it). In fact, it's to be expected, since PayPal is from a country whose anti-money-laundering laws would likely require a measure of diligence above a certain threshold.
What would be that threshold? What would be the point of using it?
Since PayPal opened their operations here in Brazil, they charge 6.5% of the total amount (no cap) in fees, and openly adopt a 3.5% lower-than-market exchange rate. Bottom line is that they deduct 10% of whatever I receive through their service.
Once I phoned PayPal to ascertain what was my limit before any "trouble" came up. They told me my account was cleared for up to USD 10,000, if I recall correctly. What would be the point of paying USD 1,000 in fees for a funds transfer??? (It's possible to fly round-trip from here to the USA for less than that.) ▲ Collapse
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Samuel Murray
Netherlands
Local time: 16:48
Member (2006)
English to Afrikaans
+ ...
| What's the threshold | Jan 28, 2015 |
José Henrique Lamensdorf wrote:
What would be that threshold? What would be the point of using it?
The threshold in my case was the receipt of more than USD 2500 in January 2011. I received a "Your account has been limited" e-mail from them, and I followed the instructions on their web site. Two days later, my access was restored. They haven't bothered me with further limits yet.
I do find it a little silly that one has to wait until you reach the threshold before you can submit the relevant documentation (you can't simply submit the proof at the same time that you open your PayPal account). I suppose they wait because it requires manual checking by a human on their side.
[You mention USD 10 000 in your post, and that reminds me of when I invoiced more than USD 10 000 once -- the client split it up into two payments, so I think the limit applied also to the client.]
I use PayPal for USA clients, because USA clients typically don't want to pay by wire but by cheque, and it costs me USD 75 per cheque to cash cheques in my current country of residence. The PayPal transaction fee is simply a business expense.
[Edited at 2015-01-28 12:02 GMT]
| | | | Thayenga
Germany
Local time: 16:48
Member (2009)
English to German
+ ...
| IBAN & SWIFT | Jan 30, 2015 |
Sheila Wilson wrote: Luke Mersh wrote:
I have just looked up about money wire and it requires IBAN and Swift code as well as other details. Is that a problem? Your bank will provide all those details.
They are listed at the bottom of each bank statement.
| | | | | Not so everywhere | Jan 30, 2015 |
Thayenga wrote: Sheila Wilson wrote: Luke Mersh wrote:
I have just looked up about money wire and it requires IBAN and Swift code as well as other details. Is that a problem? Your bank will provide all those details. They are listed at the bottom of each bank statement.
Maybe in Germany, maybe in your specific bank's statements.
My bank (Itau, in Brazil) has a specific link to it on its web portal, yet it requires some pretty obvious navigation to get there. Anyway, any account manager in any bank should be able to provide it in no time.
Such things change from one place to another.
For instance, the SSN of people in the USA is top-secret while they are alive. Apparently it enables anyone to duplicate someone else's identity. Meanwhile deceased people's SSNs are easily found on the web.
In Brazil, the unique identification for anyone is the CPF, Taxpayer ID, a 9+2 digits number. Brazilians in Brazil can get it instantly issued online. However anyone, anywhere can get such a CPF, via the Brazilian Consulates. It may be a foreigner who has never visited Brazil and has no intention of ever doing it. And that number is clearly printed on all my checks.
| | | | Samuel Murray
Netherlands
Local time: 16:48
Member (2006)
English to Afrikaans
+ ...
| Not everywhere | Jan 30, 2015 |
José Henrique Lamensdorf wrote: Thayenga wrote: Sheila Wilson wrote:
Your bank will provide all those details. They are listed at the bottom of each bank statement. Maybe in Germany, maybe in your specific bank's statements.
Yes, not all banks work the same.
For example, in NL, my bank account number is printed on my debit card, but in ZA, the number on the card is not the bank account number (you have to check a statement if you want to know what your account number is). And: In ZA, I can get a printout via internet banking of one specific transaction (e.g. to prove that I paid something), but in NL, there is no such facility and I'm forced to make a printout of all transactions of that month, and then manually grey out the ones that are private and not relevant to the person I'm sending it to. And: I remember when I first needed a SWIFT code (years ago), none of the bank personnel could help me, until finally a manager was able to provide the information. And: Before IBAN became compulsory in the EU, the only way for me to find out my IBAN number was to visit a bank branch and request it... it wasn't on my statements or on internet banking. What's obvious in one country may not be in the other.
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Balasubramaniam L. wrote:
The only issue with wire transfer is that it is difficult to know who has paid, as the payment comes with no details of the sender and amount received often is different from the invoiced amount (as bank charges are deducted). It can, therefore, take you a while to match the payment with an invoice you have issued. But this is a minor irritant.
[Edited at 2015-01-27 14:06 GMT]
I always get the statement as to who has paid and how much. Statements, even on Internet banking, tell me exactly who has paid and how much. The only problem is that the transfer is not instant and can take several days, depending on from which country. And there are no bank charges, either, unless you are referring to transaction charges between one currency and another.
[Edited at 2015-01-30 17:08 GMT]
| | | | Valérie KARAM
France
Local time: 16:48
Member (2015)
English to French
| Skrill account type | Aug 31, 2015 |
Hello,
A potential outsourcer wants to use Skrill as mean of payment, arguing it's cheaper than Paypal and that receiving money is free of charge. But looking at Skrill terms and conditions, it appears that only private/personal accounts are free, but professional accounts do have a cost. So is it possible/reasonable to open a personal account to receive payments from a customer, if this is for occasional use ?
Anyone using Skrill here with a personal (not professional)... See more Hello,
A potential outsourcer wants to use Skrill as mean of payment, arguing it's cheaper than Paypal and that receiving money is free of charge. But looking at Skrill terms and conditions, it appears that only private/personal accounts are free, but professional accounts do have a cost. So is it possible/reasonable to open a personal account to receive payments from a customer, if this is for occasional use ?
Anyone using Skrill here with a personal (not professional) account ?
If yes, aren't there any limit or control process like with paypal when you reach a certain amount of transactions ?
I have been reading through terms and conditions (yes, I really have!) but this is still a bit foggy
Thanks for your help and experience
Valérie ▲ Collapse
| | | | Sheila Wilson
Spain
Local time: 15:48
Member (2007)
English
+ ...
| Personal account can be used for limited income | Sep 1, 2015 |
I don't know what the limits are but there are bound to be some. I find it's a handy thing to have for those clients who have real problems paying by wire transfer, as an alternative to PayPal.
It is free to receive money. It should be because the person sending the money pays. But once you've received it, you want to spend it, right? That's where they take their fees! To transfer your earnings to your bank costs money. I believe you can pay for goods online without a fee, but not t... See more I don't know what the limits are but there are bound to be some. I find it's a handy thing to have for those clients who have real problems paying by wire transfer, as an alternative to PayPal.
It is free to receive money. It should be because the person sending the money pays. But once you've received it, you want to spend it, right? That's where they take their fees! To transfer your earnings to your bank costs money. I believe you can pay for goods online without a fee, but not that many sites accept it; not like the PayPal button that's everywhere. So I would tell your client that, in most cases, it is NOT free. Still, as I say, it's a possible alternative. ▲ Collapse
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