Payment methods and managing finances

We had a previous meetup earlier this year dedicated to how we deal with clients who pay late or not at all. At this meetup I wanted to focus more narrowly on how we manage payments. What are the most cost effective ways of receiving payments? Are there any particular business bank accounts or services that reduce fees, particularly for international transfers and currency conversions? Does anyone have any other cost saving advice? 

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  • Kenny

    Nina and I discussed our practices for receiving large and small payments. There are banks that minimize that can minimize fees when receiving international wires (I pay $15 at Bank of America), but it would seem impossible to avoid fees completely unless the sending party can cover them. PayPal is one of the most widely available options for instant payments, and the fees it charges are more bearable for small payments. Other instant payment services, such as MoneyBookers, are not available for residents of a number of countries (including the US).

    September 11, 2013

  • Cindy C.

    I second Linda's motion. I would be interested in knowing what was said -- either in Russian or in any other language! ;-)

    September 9, 2013

  • Kenny

    Hi Nina. Yes, I will meet you tomorrow. We might also try a little Russian conversational practice.

    September 8, 2013

  • Nina

    Kenny, do you want to postpone the meeting? I will attend since I wanted to return your book and lend you a few of mine, and I'm more than willing to discuss payment practices, but if you would prefer to postpone to a later date, that is fine as well.

    September 7, 2013

  • L A B.

    I may not be able to attend the meeting tomorrow. I am also in the middle of a translation project that must be submitted by tomorrow evening.
    I hope to be in attendance for the next meeting.
    Please post meeting's always great to find out what happened during the meetings!

    September 7, 2013

  • Cindy C.

    I'm afraid I can't make it this time -- too much going on. Along with other projects that have claimed my time and attention I have a translation I must work on. I'd better bow out of tomorrow's meeting, but I hope I can make it to the next one.

    September 7, 2013

  • A former member
    A former member

    Sorry -- something's come up. However, I hope to catch up with you another time. The topic is quite interesting...

    September 7, 2013

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