Make international payments from clients easier and cheaper
Make international payments from clients easier and cheaper
Do you ever need to send or receive payments abroad?
Have you ever had overseas clients struggle to get payment to you?
I have experienced this many times with clients in the US. It seems to me that the US banking system makes it very difficult to process international bank transfers. So I was enabling the Stripe online payment option in my Xero accounting software. But it was always a gripe when I see the credit card statement and I have ended up paying over £100 per invoice in credit card fees.
So what is the solution. There are numerous tools out there to receive and send international payments. Two that I have come across are:
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I first tried Wise.com and had two issues. Firstly, an Australian client tried to send me a payment and the payment got bounced back. The reason was that somehow they had his main business bank account listed as a personal account and so they would not handle the payment. Secondly, when I went to set up an account for my business they wanted verified business formation documents (at a cost to me to get a notary to sign the docs). No one would speak with me to explain what exactly they require from UK companies in order to verify a business account. So that reached a stalemate.
Then I tried Revolut. The only difference I can see is that maybe their commission charges are just slightly higher. But the account was quickly and easily set up and I was able to deal with real people. In addition, they have a Xero integration. So what this will mean is that I can raise multi-currency invoices in my Xero (premium subscription required), collect payment via Revolut and then easily reconcile payments in Xero. So far I am highly delighted with my Revolut account.
Phil Novell – Sash Window restoration
He turned my inefficient Keap CRM into a lead generating, sales and follow up machine!…
I would highly recommend Julian. He turned my inefficient Keap CRM into a lead generating, sales and follow up machine! Within two weeks of him overhauling the CRM we generated 30K in sales from estimates that were just sitting dormant in our system. The evergreen campaign he set up with automated tips for customers has reengaged clients bringing in further income.
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