If you are working remotely from your client there is a good chance you are in a different country. Payment providers charge fees and use favorable (for them) exchange rates and banks love to charge fees whenever they can.
There are a lot of options out there, a favorite for many is PayPal, but…
“It really hurts having PayPal take a 7% combined fee on all my earnings from the initial payment and the currency conversion.”
There is IBAN and SWIFT, but often banks charge the sender to send and for the receiver to receive the funds and use their exchange rate in the middle of money sending sandwich.
But now TransferWise is claiming to be the:
“THE CLEVER NEW WAY TO BEAT BANK FEES”
They have a nice simple calculator on their home page, so you can quickly determine the fees involved and the exchange rate without reading any fine print, check it out at: https://transferwise.com/
“TransferWise is really good, I’ve had funds in my account in under a day.”
How have you found TransferWise? Please leave your comments below.