2009Legal / Business Practices forum
International payment methods for equipment sales between USA and Europe
17 years old. Gear and prices may have changed since.
What the thread found
- Wire transfers between countries typically take five business days to complete and incur fees ranging from twenty-five to fifty dollars on each end of the transaction.
- Certified bank checks drawn in the recipient's currency avoid receiving fees but require the sender to pay for their creation.
- PayPal account-to-account transfers are free for smaller amounts, with fees of a few dollars applying to transfers above three thousand dollars.
- PayPal transfers can be charged at approximately four percent markup to compensate the recipient for transfer fees while allowing the buyer to use credit cards.
- Money should be verified as cleared in the recipient's account before shipping equipment, as tracking money is easier than tracking shipped goods.
- Creating a separate bank account specifically for receiving international payments and closing it afterward provides additional security.
- International transactions warrant heightened caution regarding buyer and seller verification, address confirmation, and legitimacy checks before proceeding.
Depends on
- PayPal fee threshold and exact amounts are stated from memory and may not be current.
- The discussion references practices from 2009 and banking procedures may have changed.
- No information provided about current regulations for international equipment transfers or customs requirements.
- Wire transfer fees and timeframes vary by financial institution and may differ from those mentioned.