Ask HN: Getting payed internationally as a freelancer | Hacker News Reader

Ask HN: Getting payed internationally as a freelancer

12 points0xsven10 comments

We are a group of freelancers from Europe that regularly work for US companies. Every time we send them an invoice there is a huge discussion about how to send the money starting. Somehow the Americans don't like wire transfer in Euros and so they always try to send us checks, which is something that doesn't really exist here. Our best guess is that nobody wants to pay conversion and transfer fees.

So my question: How to transfer the money from US to Europe? What is the cheapest way?

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I'm very happy with https://transferwise.com/

This looks like what we need. thank u :)

"Note: Our fees below do not include charges that your bank or intermediate banks involved in SWIFT transfers may levy."

This could be tricky for US banks. Make sure you ask your bank about SWIFT charges before sending money otherwise you could end up paying additional for a SWIFT transfer.

"Somehow the Americans don't like wire transfer in Euros"

I'm really not surprised. It's the same with EU countries having to wire money to some non-euro currency.

Why not setup a US dollar account? After receiving payment in your client's currency, you can rather cheaply convert it to your own currency.

In my experience, US companies are interested in PayPal or TransferWise or other such methods only when for some reason wire transfer is not an option. I don't think you are in such a situation. Depending on the amount, using those services could be more expensive than handling a US dollar wire transfer with SHA (shared costs).

I just invoice US clients in USD, and tell them to wire the money. My bank account is in Euro, so my bank converts the USD payment to Euro. Conversion + fees are usually around 1%.

I’ve used Stripe or TransferWise with my US clients – I’m in Canada – with the former usually being less hassle for me and the client if we’re dealing with small amounts.

A few clients also wanted to send me cheques. But you can convince them that these other options are better for your working relationship. As their trusted contractor you’re expected to deliver results and not skimp on details or make compromises. You should expect the same from your client, including their accounting department, and working with cheques cross-border is a compromise in the working relationship.

get a multi currency account from a singaporean bank.

How much would be the conversion fees? Do you know?

That really depends on the bank's offer, amount to be converted, etc.

A general question to a very specific case :)

Usually a flat fee plus forex. Insubstantial if you deal in thousands of dollars.

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