| Pages in topic: < [1 2 3 4] > | Seeking a good, viable alternative to Wise Thread poster: Baran Keki
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Tom in London
United Kingdom
Local time: 18:59
Member (2008)
Italian to English
| Tradition and history | Jun 26, 2023 |
Lingua 5B wrote:
... The only thing I like about PayPal is its long tradition and history. ...
Yes, a long and fine tradition and history.....
| | | | Lingua 5B 
Bosnia and Herzegovina
Local time: 19:59
Member (2009)
English to Croatian
+ ...
| I didn’t say it was perfect | Jun 26, 2023 |
I just said I trust it more than new and poorly tested services. When it comes to fees, it all comes down to the same average. One service is cheaper in one aspect, and more expensive in another aspect than some other service, etc.
[Edited at 2023-06-26 14:20 GMT]
| | | | | Revolut/ProZ Pay | Jun 26, 2023 |
I use Revolut, both business and personal, and it's been pretty reliable so far. But Turkey is not among the currently supported countries for opening an account, you may need to try getting around that if you go that route.
You may also want to check out ProZ Pay and contact the team if needed (no experience with them, but I think this use case may be a good fit, and it is made for t... See more I use Revolut, both business and personal, and it's been pretty reliable so far. But Turkey is not among the currently supported countries for opening an account, you may need to try getting around that if you go that route.
You may also want to check out ProZ Pay and contact the team if needed (no experience with them, but I think this use case may be a good fit, and it is made for translators):
https://www.proz.com/get-paid/about
[Edited at 2023-06-26 18:58 GMT] ▲ Collapse
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Laurent Di Raimondo wrote:
Baran, have you ever tried PayPal? It works pretty well, with commissions not all that extortionate.
[Modifié le 2023-06-26 08:52 GMT]
It has been more than 5 years since Paypal is not available in Turkey. Actually, it was where this story began from. Many freelancers had migrated to Wise, now it is gone, too. I am wondering whether Revolut is working.
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Baran Keki
Türkiye
Local time: 20:59
Member
English to Turkish
TOPIC STARTER | What I'm looking for | Jun 27, 2023 |
Thanks for your comments. Though I'd appreciate it if you would refrain from engaging in discussions about Paypal (thankfully it doesn't work in Turkey) in this particular thread.
What I'm looking for is a payment solution that will:
* give me a legit EU bank account (IBAN, Swift, the lot) into which my clients will send money without any deductions. For example, 20 EUR sent from France will be received in that account as 20 EUR, not as 19.10 EUR, if that makes sense? And I want to ... See more Thanks for your comments. Though I'd appreciate it if you would refrain from engaging in discussions about Paypal (thankfully it doesn't work in Turkey) in this particular thread.
What I'm looking for is a payment solution that will:
* give me a legit EU bank account (IBAN, Swift, the lot) into which my clients will send money without any deductions. For example, 20 EUR sent from France will be received in that account as 20 EUR, not as 19.10 EUR, if that makes sense? And I want to be able to receive money from individuals and companies alike (for instance, AFAIK, Payoneer doesn't allow you to receive money from people using their own personal bank accounts, it has to be a corporate account, which is no good for me, as I have individual LSPs paying me).
* I want the same for USD, GBP, AUD and CAD as well.
* I don't want to pay a king's ransom to transfer monies into my bank account in Turkey. With Wise, the transfer of 2000 EUR from my Wise EUR account into my own bank account (EUR account, not Turkish money account) in Turkey would cost me 7 or 8 EUR at most. I suspect I'll have to pay 50 to 60 EUR for the same transfer using Payoneer, and I don't want that. And also with Wise you get your money from EU to a non-EU country within 3 or 4 hours, with Payoneer it takes days.
I hope I've made what I have in mind clear. I implore our South American, African and Asian colleagues to join this discussion, and help me out. Are you all using Paypal or Wise? Don't you use anything other than them? Or are you all using international bank transfer for sums as little as 30 EUR (and pay 12 or 15 EUR in bank charges)?
I'd also like to hear people's experiences with Payoneer. I haven't actually transferred huge sums of EUR using Payoneer, my experience is limited to USD payments only, but I remember paying unconscionable amounts of money in fees (and I know for a fact that they take a small 'cut' for each SEPA bank transfer for EUR).
I hear good things about Currencyfair, and I'd like to know if anyone has used it the way I describe here. I'm also curious about Transfergo.
Please note that I'm interested in EUR to EUR, USD to USD transfers, I don't much care about FX rates and such. The main thing is the cheapness of transfer fees, and reliability of course.
Your input and experiences will be greatly appreciated. ▲ Collapse
| | | | Steve Robbie
United Kingdom
Local time: 18:59
Member (2017)
German to English
+ ...
OFX offers what it calls a "global currency account" (Anglosphere currencies + euro, with IBAN etc.). I don't know anything about the (apparently Australian) organization, but it didn't immediately close the door when I began the sign-up process with "Turkey" as my country of residence.
| | | | Tom in London
United Kingdom
Local time: 18:59
Member (2008)
Italian to English
| Deduction(s) | Jun 27, 2023 |
Baran Keki wrote:
......
What I'm looking for is a payment solution that will give me a legit EU bank account (IBAN, Swift, the lot) into which my clients will send money without any deductions.
Your clients may not deduct anything but the intermediaries will - whoever they are.
| | | | Baran Keki
Türkiye
Local time: 20:59
Member
English to Turkish
TOPIC STARTER
Tom in London wrote:
Your clients may not deduct anything but the intermediaries will - whoever they are.
I meant deductions made by intermediaries, not by clients. Sorry about the confusion. With Wise, SEPA transfers are made without any (Paypal-like, Payoneer-like) deductions. I don't want to lose a cent of my hard earned cash to online money transfer services if it's done within the borders of EU (SEPA countries). I'm okay with paying up to 10 EUR for international money transfers (i.e. transferring money from my EU bank account to my Turkish bank account).
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| Circumventing it | Jun 27, 2023 |
If Turkey is being abandoned by financial institutions, a viable solution may be to open a one-person business in the EU, receive payments into an EU account, and then spend money in Turkey using an EU debit card.
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Try using SmartCAT - it allows sending invoices for jobs done outside the platform itself. If some of your customers are already registered there, it may be an option. Withdrawals into personal bank accounts from the SmartCAT balance are very cheap (less than 1 USD in my case), not amount-dependable. Withdrawals directly to bank cards are expensive though (5% I guess).
| | | | Lingua 5B
Bosnia and Herzegovina
Local time: 19:59
Member (2009)
English to Croatian
+ ...
| Oh, this exists? | Jun 27, 2023 |
Baran Keki wrote: Tom in London wrote:
Your clients may not deduct anything but the intermediaries will - whoever they are. I meant deductions made by intermediaries, not by clients. Sorry about the confusion. With Wise, SEPA transfers are made without any (Paypal-like, Payoneer-like) deductions. I don't want to lose a cent of my hard earned cash to online money transfer services if it's done within the borders of EU (SEPA countries). I'm okay with paying up to 10 EUR for international money transfers (i.e. transferring money from my EU bank account to my Turkish bank account).
So no cent for deductions, and 10 EUR for a transfer of any amount? Did this exist with Wise? No wonder it doesn’t work any more then, as this way the payment system is not making any money at all.
Re. opening a one-person EU business in the EU, won’t that involve a legit residential address in the EU, plus paying taxes in the EU?
I really heard some extraordinary and magical things here.
[Edited at 2023-06-27 15:56 GMT]
| | | | ATIL KAYHAN
Türkiye
Local time: 20:59
Member (2007)
Turkish to English
+ ...
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Baran Keki
Türkiye
Local time: 20:59
Member
English to Turkish
TOPIC STARTER
Lingua 5B wrote:
So no cent for deductions, and 10 EUR for a transfer of any amount? Did this exist with Wise? No wonder it doesn’t work any more then, as this way the payment system is not making any money at all.
There are no bank/service charges in SEPA countries if you have an EU IBAN, and it doesn't cost you an arm and a leg to transfer sums into a non-EU country. I feel sorry for you if you've lost hundreds, if not thousands of EUR over the years through Paypal.
Wise is doing good worldwide, they're pulling out of Turkey thanks to mismanagement and f*cked up economy here.
Once again, I implore our dear colleagues to suggest similar money transfer services like Wise that they personally use.
Thank you.
| | | | | Maybe a stupid question, but..... | Jun 27, 2023 |
Anton Konashenok wrote:
If Turkey is being abandoned by financial institutions, a viable solution may be to open a one-person business in the EU, receive payments into an EU account, and then spend money in Turkey using an EU debit card.
.... is it possible for non-EU residents to open a EU bankaccount (in a EU country)? Or am I missing something here?
| | | | | Watching thread with interest | Jun 27, 2023 |
Baran Keki wrote:
I hope I've made what I have in mind clear. I implore our South American, African and Asian colleagues to join this discussion, and help me out. Are you all using Paypal or Wise? Don't you use anything other than them? Or are you all using international bank transfer for sums as little as 30 EUR (and pay 12 or 15 EUR in bank charges)?
Bank transfer for almost everything. I tried Wise and was able to receive the money in my Wise account, but haven't been able to transfer it to my account in Ghana yet. First Wise froze cedi transfer for a good while (because the rate was wildly in our favour), then the system gave lots of errors when I tried, then finally when I thought I had succeeded just the other day, my bank sent it back and I now have to take it up with them. If there's a valid substitute for Wise, I'm all ears.
Haven't had a good experience with Payoneer. I set up an account and had some questions but their customer service is non-existent. Entrusting a company like that with my money would be just too scary.
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