Alternate Payment Platforms for International Transactions (2 Viewers)

[FordPickup92]

I'd be happy to offer one of the above mentioned to my international friends in future GBs or reshipping/sales deals provided we have a few more members with positive experiences

 

[davislane]

Hi,
Thanks @davislane for running this conversation.
So, it looks there are two possible alternatives to PP : Revolut or Transfer wise?
I need to go and check that
PPs change rate is scandalous and they charge huge fees imo.

there has been a lot of discussion around Revolut but no "verified" feedback to direct people to yet. Hopefully that changes

I'd be happy to offer one of the above mentioned to my international friends in future GBs or reshipping/sales deals provided we have a few more members with positive experiences

There is a growing list of people that can vouch for Transferwise's simplicity and ease of use as a funds receiver. I just need to round more of them up.

 

[LeGold]

there has been a lot of discussion around Revolut but no "verified" feedback to direct people to yet. Hopefully that changes

Hm, what exactly do you mean by that? We're at least 3 here who are using it.

 

[tabletalker7]

Hm, what exactly do you mean by that? We're at least 3 here who are using it.

It hasn't been long enough yet. Give it another week and then ask yourself if the phone calls with those "extended car warranties" went up or not

 

[davislane]

Hm, what exactly do you mean by that? We're at least 3 here who are using it.

Using it to make payments to US Chippers?
If so get them to say something about their experience in this thread so other US chippers can read some real world feedback.

 

[LeGold]

Not to US chippers yet, no. But I'll be happy to play a bit with @FordPickup92!

 

[davislane]

How are international chippers sending their $ these days?

I personally am still using wise.com (formerly transferwise) with great success. Transfers are super quick, albeit not instant, arrive within a day or two but are worth it when taking into account the savings in conversion fees.

 

[Eriks]

Have missed this thread. Still mostly Paypal, but after talking to @Marius L I recently started a Revolut account. Seems like a much better solution. Haven’t used it for any US transactions yet though but received one outside from of EU (GB).

 

[HaRDHouSeiNC]

U
S
D
C

 

[fishsaybloop]

+1 for wise for ease and rates. Revolut is a good option too.

PP’s FX fees are daylight robbery. Recently saw a 5% mark-up vs spot rate.

Or crypto

 

[grandmeme]

Wise is awesome. Crypto is good too!

 

[Marius L]

I use Revolut when posible and just try to keep a bunch of USD in my paypal account to limit exchanges back and forth. But admittedly that's not always very practical

 

[davislane]

List of Alternate International Payment Platforms that have been successfully used and verified by members.

-Transferwise. https://transferwise.com.
Money goes directly into the receiver's bank account without incurring any fees. The receiver only needs to provide the sender with their first and last name and email address to initiate the transaction. The sender pays and small fee comparatively and gets an amazing exchange rate.

Update. tranferwise.com rebranded and is now just wise.com. Their service offering has improved. They now allow you to have multi-currency accounts so you can receive payments and store USD for future purchases etc.

 

[Eriks]

Update. tranferwise.com is not just wise.com. Their service offering has improved. They now allow you to have multi-currency accounts so you can receive payments and store USD for future purchase etc.

Paypal does that too, right? It’s more about getting screwed when withdrawing (converting)

 

[grandmeme]

Paypal does that too, right? It’s more about getting screwed when withdrawing (converting)

You get screwed when transferring internationally as well with F&F even if it's in the same currency. Like more than 10%. I just pay G&S + 7% at that point if seller wants more money lol

 

[Eriks]

You get screwed when transferring internationally as well with F&F even if it's in the same currency. Like more than 10%. I just pay G&S + 7% at that point if seller wants more money lol

I pay a flat fee of just over $2 on all transactions outside of EU

 

[grandmeme]

I pay a flat fee of just over $2 on all transactions outside of EU

F&F to EU. US is worse. It gets better when the total is over $500, then it becomes ~2%. Still $10 transaction fee though lol - wtf!

 

[Newenne]

On top of a PayPal fee per transaction. They will also bend you over when they do their currency conversion

Unless you happen to have a great credit card that does not charge you a cash advance fee and has a good conversion rate of its own. But then of course if you choose that, PayPal will simply increase their base fee.

All I can say is thank you to all my chipper brothers and sisters who have allowed wise.com for my transactions. Saved me a ton of money and just feelsgood all round.

 

[grandmeme]

Bumping this thread because Paypal is just getting ridiculous.

PPFF fees for a $100 transfer:

3.67% for Wallet and 7.35% from a USD card!!! Why do I have to pay extra fees when I already have USD in my account? This is pathetic.


Transfering USD from my Wallet to a USD account:

Note the "Free" in the statement. Paypal, who are you trying to fool? LOL!

I feel like I get kicked in the balls every time I have to use this service internationally.

 

[LeGold]

I feel like I get kicked in the balls every time I have to use this service internationally.

That's because you do.

 

[Eriks]

Revolut is the answer. It’s just difficult to convince the majority that pretty much never has to bother with currency conversions anyway, to switch to something they’re unfamiliar with.

 

[bergs]

CONUS4LIFE

 

[grandmeme]

That's because you do.

 

[k9dr]

Revolut is the answer. It’s just difficult to convince the majority that pretty much never has to bother with currency conversions anyway, to switch to something they’re unfamiliar with.

I was looking at the Revolut app, but was turned off by all the data they were collecting esp SSN. I don’t recall doing that for PayPal but maybe I did.

If I decide to try Revolut, how do I initially fund the app ?

 

[Marius L]

I was looking at the Revolut app, but was turned off by all the data they were collecting esp SSN. I don’t recall doing that for PayPal but maybe I did.

If I decide to try Revolut, how do I initially fund the app ?

You transfer money from you bank account by regular card payment (easiest), or a bank transfer (a bit less easy). Both options with no fees I'm pretty sure.

 

[LeGold]

Also, transfer's free, only currency exchange fees (1%) if more than approx $1000 is converted within a 30 day period. So, for a US recipient, free to send and receive USD, and for international buyers cheaper than PP using credit cards.

 

[Eriks]

If Paypal was more reasonable, I wouldn’t look elsewhere either so I fully understand the aversion. Familiar is good. Although, I don’t really see the need for this bullshit in everyone of these kind of threads:

CONUS4LIFE

We get it, kthx.

I was looking at the Revolut app, but was turned off by all the data they were collecting esp SSN. I don’t recall doing that for PayPal but maybe I did.

If I decide to try Revolut, how do I initially fund the app ?

I can’t really say. I’m one of those trusting/dumb ones that just check the boxes and don’t worry.

I can fund through credit card, Apple pay and bank transfer