Payment in euros

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Payment in euros

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sean
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 42219
Location: North Devon

Posted: Mon Dec 06, 04 8:32 am Post subject: Payment in euros
I'm doing some work for someone based at a Spanish university, obviously they will pay me in euros (the cheque is being raised by the institute). Does anyone know what the best way to deal with this is? Do I need to open a euro bank account? And if so how? Thanks, Sean

jema
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 28238
Location: escaped from Swindon

Posted: Mon Dec 06, 04 10:05 am Post subject: Re: Payment in euros

sean wrote:

I'm doing some work for someone based at a Spanish university, obviously they will pay me in euros (the cheque is being raised by the institute). Does anyone know what the best way to deal with this is?
Do I need to open a euro bank account? And if so how?
Thanks, Sean

From Europe I know people transfer money bank to bank, quite cheaply, using SWIFT, at 0.68e a transfer. From this Country I enquired about SWIFT and it cost a crazy amount

jema

tahir

Joined: 28 Oct 2004
Posts: 45676
Location: Essex

Posted: Mon Dec 06, 04 10:10 am Post subject:
Don't take a cheque, it'll take maybe 4 weeks to clear and the charges will be awesome. The best option is some kind of bank transfer, either a SWIFT or IBAN, you should probably open a Euros bank acount and then you can cgange it to �s when you feel like it.

Bugs

Joined: 28 Oct 2004
Posts: 10744

Posted: Mon Dec 06, 04 10:14 am Post subject:

I'm trying to have a look at the archive of a mailing list for freelance workers that I'm on - this topic comes up sporadically. One post I just found echos what Tahir says above:

"I've recently been doing some work for a German-based company, who paid me in Euros. The first payment came as a cheque, and Abbey charged me commission for handling a non-sterling cheque. (I can't remember exactly what it was and the paperwork is with the accountant, but I think it was �10.) After that, I got the client to pay me by electronic funds transfer, and so far as I can see, Abbey are not charging me anything for the conversion."

I'll PM you the list name so you can join and have a look yourself.

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