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Transferwise Payments

steendorpsteendorp
edited February 2014 in Closed Suggestions Vote Up0Vote Down
I've had a lot of customers from the UK who wanted to pay by IBAN. That would cost them 11 pounds for the transfer between pounds and EUR. So I always sent them a email, that it is cheaper to pay by PayPal (in my shop it's alowed for orders above 2,50 EUR).

Just curious: What is the Transferwise method? How does it work?

Frank

Comments

  • 3 Comments sorted by Votes Date Added
  • LawrenceLawrence
    edited February 2014 Vote Up0Vote Down
    It is a service that can send IBAN payments for a small fee, usually around a few pounds, I don't remember the exact rate. I think for small payments it might be £1. They have better exchange rates than PayPal so for larger payments, over around £50, it is cheaper than PayPal.

    You setup a payment on their website, and then make a normal bank transfer that costs, and then they send the money on.
  • steendorpsteendorp
    Vote Up0Vote Down
    Ok, thanks for explaining. I will have a look into it.
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