Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
PSA
Member Login

Site Notices
Posted: 9/2/2015 6:07:40 PM EDT
My customer (outside the USA) is paying me periodically via wire transfer.  Every payment has ~$50 deducted for intermediary bank fees, plus my bank charges me an additional ~$15 for receiving a wire transfer.  

I have no problem paying my bank's fees.  



Question: who normally pays these intermediary bank fees?  

In my view, it's up to the customer to get the funds to me.  They can send a check, cash, wire transfer, or whatever.  But if some intermediary banks make a deduction from their payment, it's up to my customer to cover it.  

Link Posted: 9/2/2015 6:16:17 PM EDT
Just add the Intermediary bank fees to future invoices.
Link Posted: 9/2/2015 6:18:23 PM EDT
I've both sent and received wire transfers, but only from US banks.  USAA charged me $20 to send a transfer, but did not charge to receive a transfer.
Link Posted: 9/2/2015 6:19:07 PM EDT
Price it into your product. Most banks charge a fee to receive wires, though a few don't. Check your customer agreement for your bank's list of charges.
Link Posted: 9/2/2015 6:19:17 PM EDT
Originally Posted By LurchAddams:
My customer (outside the USA) is paying me periodically via wire transfer.  Every payment has ~$50 deducted for intermediary bank fees, plus my bank charges me an additional ~$15 for receiving a wire transfer.  
I have no problem paying my bank's fees.  

Question: who normally pays these intermediary bank fees?  
In my view, it's up to the customer to get the funds to me.  They can send a check, cash, wire transfer, or whatever.  But if some intermediary banks make a deduction from their payment, it's up to my customer to cover it.  
View Quote



Agree with you.


They are sending you a specific amount, so they are are responsible for the fees in getting the payment to you.   They have other options.
Link Posted: 9/2/2015 6:27:25 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Jman78:



Agree with you.


They are sending you a specific amount, so they are are responsible for the fees in getting the payment to you.   They have other options.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Jman78:
Originally Posted By LurchAddams:
My customer (outside the USA) is paying me periodically via wire transfer.  Every payment has ~$50 deducted for intermediary bank fees, plus my bank charges me an additional ~$15 for receiving a wire transfer.  
I have no problem paying my bank's fees.  

Question: who normally pays these intermediary bank fees?  
In my view, it's up to the customer to get the funds to me.  They can send a check, cash, wire transfer, or whatever.  But if some intermediary banks make a deduction from their payment, it's up to my customer to cover it.  



Agree with you.


They are sending you a specific amount, so they are are responsible for the fees in getting the payment to you.   They have other options.


^ This.

The only other thing would be if there is a currency conversion going on. It is possible that the conversion rate the bank is using is slightly different than the market trend.
Link Posted: 9/2/2015 6:32:04 PM EDT
is he paying you because he owes you money or is he still buying product?
Link Posted: 9/2/2015 6:38:45 PM EDT

Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Wash-Ar15:


is he paying you because he owes you money or is he still buying product?
View Quote


He's buying services, but his bank is in London.  



I really don't like paying ~$65 per transaction in bank fees.  



 
Top Top