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Overseas Money Issues

This is not a warning, but a question on my part that I hope will get a good discussion going as it's something that could cause problems between artists and their clients.

How do you, as an artist, handle your foreign client's payments? Do you only accept your own currency, or are you willing to accept payment in your client's currency? While Paypal for the most part eliminates this problem since payment can be made in most major currencies without any problems, how about when your client is not able to make use of it and has to pay by money order or some other "traditional" payment method and wants to pay in their own currency?

For anybody who's had experience as a North American receiving payment from a European in Euros, or vice-versa, what were the pros and cons?
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Comments

( 14 comments — Leave a comment )
mistaken_silver
Feb. 29th, 2008 04:45 am (UTC)
This shouldn't be a problem at all... and this is coming from someone who has to convert money often (British Pounds to Dollars particularly).

You Should be able to receive payments (checks I know work.) in really any currency and your bank should be able to take it, transfer it into Dollars. They will take a small fee more than likely to do this but it shouldn't be a problem. BE prepared for a wait though. My small town bank at home takes 3 weeks to do the transfers.

You should however, just check with your bank first and ask them how they do it(If its a small town bank they may not do it all) and just ask what type of payments (Money orders and the like) they would accept.
joecifur
Feb. 29th, 2008 05:32 am (UTC)
I'm in the US and have several customers overseas.

Paypal aside, If they have to pay by money order, it's no problem at all. Most any post office, bank or money exchange place like Western Union in pretty much any country will sell you an international money order -- just keep in mind most banks (at least in the US) will hold those for a few extra days to make sure they clear. My bank (BoA) hasn't ever charged me any fees, either.

I only take USD to cut down on the hassle, but after travelling I've taken foreign currency to my bank and they've changed it out for me (may be a fee like at the airport). I've never had any customers seem to have difficulty getting payments to me in USD, though. My overseas customers rock :3
auradeva
Feb. 29th, 2008 05:37 am (UTC)
I've gotten payment transfers through western union from some of my over seas commissioners who couldn't used paypal. I think it's just less of a hassle for a middle man like western union or paypal to handle the currency conversion than going to the bank with a foreign money order. Sending actual currency is always risky, too.
(Deleted comment)
auradeva
Mar. 1st, 2008 10:26 pm (UTC)
I never have to wait for it to clear. I get the money right away at any check cashing place 0.o
(Deleted comment)
auradeva
Mar. 3rd, 2008 07:27 pm (UTC)
The check cashing stores don't have my bank info. Do they use your address to get it?
auradeva
Mar. 3rd, 2008 07:29 pm (UTC)
When the commissioner send you money through western union isn't the only way to do it, to give them actual currency so they can wire it to you?
skanrashke
Feb. 29th, 2008 06:23 am (UTC)
Payments are pretty easy, so long as you keep a finger on exchange rates- but as a commissionee, you can just demand money in your native currency instead of allowing them to pay in theirs. As you said, paypal makes it easy.
Shipping overseas is a nightmare, though. :3
immortalpanda
Feb. 29th, 2008 06:26 am (UTC)
how so? I ship things all over the world, and while expense can be high, or wait time can be long, i've never had an issue.
skanrashke
Feb. 29th, 2008 07:32 am (UTC)
Just the vastly varying expenses depending on the shipping company you go with, plus the seemingly random(or prolonged) times, plus impatient customers = nightmares + drinking.

:3
immortalpanda
Feb. 29th, 2008 06:25 am (UTC)
international money orders or paypal only. I prefer to be paid in USD because i dont start artwork or anything until payment is cleared. if it takes my bank 3 weeks to do a currency convert, i feel like i'm wasting my commisioner's time in waiting for so long.
thaily
Feb. 29th, 2008 09:15 am (UTC)
My currency, because a dollar is one Euro fifty.
Americans can pay me in dollars, after I convert the Euro price to US dollars.
tanidareal
Feb. 29th, 2008 12:43 pm (UTC)
I (from Germany) never had problems accepting payments in EUR or in US$ (or also $AUD). Also transfering one currency to the other has never been a problem.
signaldancer
Mar. 2nd, 2008 02:15 am (UTC)
I've taken overseas commisions before (hi, that random lurker speaks), and they paid me via $US which is my currency. It didnt seem to be any kind of big problem for them to go from British Pound to USD.

I have also had payment in Japanese Yen before, and found that it was something of a large fee with my bank to do that conversion to USD - so I prefer it on the commisioner end so when I quote them a price it's really the price and I don't have to sort through what fees I may have to pass along.
quoting_mungo
Mar. 6th, 2008 08:02 am (UTC)
Going to an exchange agency is not that difficult. If someone insists on sending me cash, they'll have to do so in one of the three currencies I accept. Why should I go through that hassle (and lose money on the exchange rate) when they're the one wanting a service?


-Alexandra
( 14 comments — Leave a comment )

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