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Help, I'm getting killed by international wire-transfer fees
I found a really great and affordable SCRUM based development team that is based in Argentina. The problem is is that their bank charges $70 wire-transfer fee and mine charges $35. Which means I am paying an extra $105 per invoice.
As a self-funded startup this is a hard pill to swallow. Any tips or advice on ways to avoid these fees?
- hector_ka 16y agocan you use western union?
- ivanstojic 16y agoGenerally speaking, that's even worse than bank transfers...
- christkv 16y agoHave a look at this company it might be a lot cheaper http://www.xe.com/fx/ http://www.xe.com/fx/
- gexla 16y agoWow, that's quite expensive. As another poster mentioned, looking into a currency exchange service such as xe.com would be a good idea. Essentially you do an ACH transfer to them and then they do a transfer to the recipients bank account. Not only is the transfer cheaper than a wire, but you should get a better exchange rate.
- gerakinis 16y agoYou could solve it the way that my employers have: take your end of the cost out of their invoice.... I didn't think it was the best solution ever, but I honestly didn't have enough leverage to do anything about it, either. I'll probably just bill more next time =p
- nolite 16y agoxe is awesome.. been using them for 10 years now