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  • FIRST POST
    • MangyDog
    • By MangyDog 9th Aug 18, 11:18 AM
    • 16Posts
    • 4Thanks
    MangyDog
    Whats best way to Receive payment from USD?
    • #1
    • 9th Aug 18, 11:18 AM
    Whats best way to Receive payment from USD? 9th Aug 18 at 11:18 AM
    Im currently in negotiation to do a short bit of online work. And the employer is going to pay me in USD.

    They originally suggested to do it through PayPal. But I'm trying to find out if there is a better option.

    I even checked my banks website, but the only information I could seem to find is about buying currency not exchange on receiving it.

    So i need some advice and help, What is the best low cost option? As it appears PayPal charge 2 quid + 3% + 20p+1%? on what ever exchange rate they have picked to use for the day (which I'm almost certain would be favourable to them compared to the xe.com rates)...

    Whats my best option?
    Last edited by MangyDog; 09-08-2018 at 11:29 AM.
Page 1
    • Futuristic
    • By Futuristic 10th Aug 18, 8:39 PM
    • 800 Posts
    • 403 Thanks
    Futuristic
    • #2
    • 10th Aug 18, 8:39 PM
    • #2
    • 10th Aug 18, 8:39 PM
    The best option is TransferWise.

    Sign up to business account, create a USD borderless account. You get US bank details, they can send funds "locally" to you, then you can exchange to GBP or hold/use the USD.

    https://transferwise.com/gb/borderless/#get-paid
    • fewgroats
    • By fewgroats 21st Aug 18, 8:01 PM
    • 485 Posts
    • 294 Thanks
    fewgroats
    • #3
    • 21st Aug 18, 8:01 PM
    • #3
    • 21st Aug 18, 8:01 PM
    Why not try to get them in pound sterling? They're the ones employing you.
    ASK & ANSWER CHALLENGE. ASKS:3. ANSWER: 2.
    • scaredofdebt
    • By scaredofdebt 22nd Aug 18, 10:02 AM
    • 1,162 Posts
    • 565 Thanks
    scaredofdebt
    • #4
    • 22nd Aug 18, 10:02 AM
    • #4
    • 22nd Aug 18, 10:02 AM
    Payoneer don't charge anything as far as I am aware, I get paid in USD by Appen via that.
    Make 2018 in 2018 Challenge - Total to date 2,108
    • martindow
    • By martindow 22nd Aug 18, 11:01 AM
    • 7,797 Posts
    • 4,472 Thanks
    martindow
    • #5
    • 22nd Aug 18, 11:01 AM
    • #5
    • 22nd Aug 18, 11:01 AM
    Payoneer don't charge anything as far as I am aware, I get paid in USD by Appen via that.
    Originally posted by scaredofdebt
    If they are not charging a fee presumably they are making money on the exchange rate they offer. They must be making money somehow!
    • paddyrg
    • By paddyrg 25th Aug 18, 5:58 PM
    • 13,114 Posts
    • 11,188 Thanks
    paddyrg
    • #6
    • 25th Aug 18, 5:58 PM
    • #6
    • 25th Aug 18, 5:58 PM
    Revolut may be worth a look, too.
    • AlexBrian
    • By AlexBrian 2nd Sep 18, 2:54 PM
    • 1 Posts
    • 0 Thanks
    AlexBrian
    • #7
    • 2nd Sep 18, 2:54 PM
    • #7
    • 2nd Sep 18, 2:54 PM
    I have used many services & local bank accounts and they all can work for you but if you're looking for an Online Payment transfer solution then I can suggest you to take a look at PayPal (the leading online payment processing platform and if this is not your choice you can also take a look at Payoneer (closest alternative to PayPal but its fees are more than PayPal and also issues a Free MasterCard. Please take a look at its fees here. However there are some more services as well such as PayZa, TransferWise & Skrill that can work the same as above-two-mentioned services work.
    • novelty-socks
    • By novelty-socks 7th Sep 18, 11:11 PM
    • 186 Posts
    • 119 Thanks
    novelty-socks
    • #8
    • 7th Sep 18, 11:11 PM
    • #8
    • 7th Sep 18, 11:11 PM
    I recently used Transferwise to transfer the proceeds of selling some US$ shares into . It was a really easy, quick process with minimal fees.

    I used to be freelance and the borderless account would have been great for my overseas clients.
    • anandp
    • By anandp 23rd Sep 18, 11:09 PM
    • 272 Posts
    • 30 Thanks
    anandp
    • #9
    • 23rd Sep 18, 11:09 PM
    • #9
    • 23rd Sep 18, 11:09 PM
    Revolut may be worth a look, too.
    Originally posted by paddyrg
    Was going to suggest Starling Bank as well. No charges - just the market rate for conversion into GBP.
    Interested in property investment, web tech, social media, forex, equities. Also a proud father & entrepreneur of sorts.
    • Man in a Suitcase
    • By Man in a Suitcase 9th Oct 18, 11:54 AM
    • 49 Posts
    • 11 Thanks
    Man in a Suitcase
    The best option is TransferWise.

    Sign up to business account, create a USD borderless account. You get US bank details, they can send funds "locally" to you, then you can exchange to GBP or hold/use the USD.

    https://transferwise.com/gb/borderless/#get-paid
    Originally posted by Futuristic
    You get Australian, GB, European and US account numbers with a borderless Transferwise account. Wouldn't it be best for a receiver in the UK to give someone in the US their GB account details. There wouldn't be a conversion fee then.
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