International Wire Transfers Bleed Fees and Days
Businesses, particularly those operating internationally or in high-risk industries like CBD, face significant challenges with payment processing. These challenges include high fees, transfer delays, limited control over cash flow, and difficulty finding reliable payment processors due to restrictions and potential account freezes. The lack of suitable payment options creates operational frustration and financial instability.
SOURCES (60)
“Many bank use a correspondent bank for wires. The only delays should be due to initiating the wire after the cutoff and time zone issues.”
“My brother is doing this bussiness so I am trying to benchmark what everyone else is doing. He is currently using squares free plan (2.6% + 15¢ per in person transaction) but on bigger flooring installs those fees start adding up. Are most of you just eating the processing cost, passing it along or using a different payment processor with better rates? submitted by /u/Fabulous_Day_8113 [link] [comments]”
“Thank you. I made enquiry to the beneficiary's bank but they told me they could not answer an individual payment and asked me to initiate an investigation from the bank in which I remitted. Recipient has not informed whether they confirmed the payment. Hmmmm.”
“I use Oobit and their Plug & Pay setup sounds close to what you’re describing. The main thing I like is that the payment flow feels simple for the user instead of turning checkout into a full crypto process”
“For those of you who regularly handle multiple ACH transfers and wire transfers, what do you think is a reasonable fee to charge per transaction? If you're a CPA, bookkeeper, accountant, or work in treasury or back-office operations, I'd love to hear: \\- What do you charge (or pay)? \\- Is it a flat fee per transaction or bundled into a monthly service? \\- Does the complexity or dollar amount of the transfer affect your pricing? I'm trying to get a sense of what the market consider”
“Running a small consulting operation out of Warsaw, most of my revenue comes from international clients, so I rely pretty heavily on clean payment data to track cash flow, build forecasts, and keep my dashboards accurate. The issue is that my bank keeps flagging incoming payments above ~$5k, which introduces delays and inconsistencies in when funds actually settle. From a data perspective, it makes revenue timing unpredictable and throws off even simple cash flow tracking. Instead of having a cl”
I am based out of maine and toast is based out of boston so it’s been nice because if hardware fails its overnighted. Its like a 3 percent hit on all sales…
“if it's a standard card, probably both, most processors handle visa & mastercard same way. the bigger issue is 2D, most gateways push 3DS hard now because of liability shift, finding one that defaults to 2D without KYC is not easy i looked for something similar few months ago for a side project, ended up giving up because every option either wanted my ID after first few tx or held funds for like 3 days before settling. the ones that don't KYC usually have terrible rates or just disap”
“Europe has tougher standards on processing fees, Visa rates vary between 1-3%. And for standard bank debit cards (which are highly used in Europe) it’s 0.2-1.5%. And the elephant in the room is that companies like Flexa aren’t new, there have been numerous companies that have come and gone trying to facilitate crypto transactions over the last decade, most never work because they offer nothing to the consumer which is just bad game theory if you’re trying to change an industry. The two old playe”
“Maybe crypto payments haven’t gone mainstream because buying coffee was never the problem. Cards already work fine at checkout. The real demand is where money moves badly: cross-border payments, payroll, remittances and countries with unstable currencies. Crypto payments may already have a product-market fit. It’s just not at the cash register.”
Do you sell in the country you live in or in a different country?
“Hi, Can anyone recommend a High Risk Acquirer / Processor that will process eCommerce payments for both Vape products and / or Peptides. We operate a custom eCommerce Website stack for various different merchants that have moved off Shopify. We process payments with 3 integrated partners (Stripe, Adyen and Global Payments). I won't self promote our company here, as per rules. We are getting inbounds by the day from merchants who are looking to use our eCommerce Websites, but we haven't c”
“That's been the issue; I can usually problem solve it and figure out which deposits are grouped together (with considering credit card fees), but in this case, the amounts are so off, it doesn't work out.”
“Looking for a payment processor that lets me accept US credit card payments and withdraw the money to my Indian bank account . I don't want to register a company or deal with a bunch of legal compliance. I just want something simple that works so I can focus on my business and have peace of mind. Requirements: US clients can pay by credit card Payment links preferred Funds transferred to my Indian bank account after fees Reliable and easy to use Please don't suggest crypto, stablecoins,”
“I need to pay a subcontractor (and friend) for work he and I are doing together. He knows I have multiple forms or payment and got a square device to help handle this. The full job is $8,000 and includes rear, front, sides and top. We just finished the rear, so we both thought I would pay now for that piece of the total. My forms of capital for these projects are all preloaded $445 visa cards. So I will need to use 18 visa cards to pay down this balance. Which he has no problem with and I have n”
“Started with Monzo, after a few years moved to Allica as we have a mortgage with them and they offer good interest rates on high saving balances”
“UK ecom guys, Who are you using for your business bank? I’m currently looking to make a switch and looking for advice based on people’s experience. TIA submitted by /u/Admirable_Plastic840 [link] [comments]”
“I plan to create a USD bank account for the purpose of generating revenue online and online shopping. My aim is provide web development services online and other digital products, hence, I believe a USD account would minimize the complications of financial transactions on an international scale. However, as an American citizen, I live abroad, specifically Trinidad and Tobago. I lack necessary US documentation as I moved before becoming a teenager, so I don't have basic identification such as”
“I plan to create a USD bank account for the purpose of generating revenue online and online shopping. My aim is provide web development services online and other digital products, hence, I believe a USD account would minimize the complications of financial transactions on an international scale. However, as an American citizen, I live abroad, specifically Trinidad and Tobago. I lack necessary US documentation as I moved before becoming a teenager, so I don't have basic identification such as”
“I plan to create a USD bank account for the purpose of generating revenue online and online shopping. My aim is provide web development services online and other digital products, hence, I believe a USD account would minimize the complications of financial transactions on an international scale. However, as an American citizen, I live abroad, specifically Trinidad and Tobago. I lack necessary US documentation as I moved before becoming a teenager, so I don't have basic identification such as”
“ou basically described wechat in china, just paying by scanning a qr code. Doesnt need blixkchains though. Even all those second layers that are supposed to make things better and easier dont use blockchains.”
“man stripe can be such a headache when you're outside the US. they flagged my second store for no reason for like 3 months straight, support was useless the currency thing you mentioned is huge, nobody talks about that enough. had to set up 3 separate merchant accounts just to stop the random holds”
“You can configure Square to add sales tax or not. Cash, Zelle, Venmo, Paypal are easier to setup and use.”
“Since Mercury is out for your country and Relay won't take the virtual address, the realistic options left are the EMI route. Wise Business and Payoneer both work with non resident US LLCs and neither expects a US utility bill. Not a real bank account, but for invoicing and getting paid they cover most of what people actually need. Also worth asking Bizee what exact address type they sold you, some of theirs are CMRA mailbox addresses which fintech compliance auto flags, a registered agent s”
“Looking for some advice from brokers that have been through this stage. I own a small auto transport brokerage. Up until now I’ve mostly worked with retail customers, so I’ve been able to collect payment before or at delivery. Because of that, I’ve always paid carriers out of my own operating cash. Recently I landed a commercial account that prefers Net 30 terms (they understand it’s our first order and said they’re willing to work with us initially, but long-term they prefer credit terms). The”
“Recon software founder here, so bias disclosed but here's the honest breakdown of how matching actually works at volume, regardless of which tool you pick: Payment matching is basically three checks: amount, date (payments almost never land the same day as the invoice, so you use a date range), and how similar the descriptions look. Full matches on all three are easy. The hard part is partial matches — one payment covering several invoices, or one invoice paid in parts. Whatever tool you loo”
[PayPal] ★ 1/5 (v8.107.2) — Every time I have some issue I have to call as the chatbot and agents from support don’t solve anything. Only in the USA a digital company…
“Had an interesting convo with a merchant services rep buddy of mine. Most of my clinic payments are debit cards, and some credit cards. I'm spending anywhere between $700-$1500/mo on processing fees alone with my program and point of sale device (Clover flex4). Do you pass on fees to your patients/clients? Or are you more traditional in a sense of "it's the cost of doing business"? I'm torn whether or not I should pass on the fees to my clients, but that's saving quite”
“I'm jumping in because this is literally what I work on (at Remitly - we have a new Business product). The "revenue spike = account freeze" thing isnt really a PayPal-specific bug, its how most risk/compliance systems work across the industry. They baseline your account against your historical volume, and when you blow past that baseline, especially with international counterparties, it gets flagged for manual review regardless of whether anything's actually wrong. The bigger i”
“1) best POS system, I know this is discussed often. I’m looking at Toast, Square and GoDaddy. Are there others I’m missing? I’m not trying to pay a crazy amount for monthly software fees if I can help it. 2) I need like a celular paging system to tell people when their orders are ready. Any advice for this? submitted by /u/Interesting-Role-211 [link] [comments]”
“Yeah that also got a cap of 12k usd or something :). Normal way would be service like ramp etc...but not available in the EU. Obviously no other chance than paying via TT”
“Hey mate, do you mean that many suppliers can accept Payoneer without issues? Our supplier is worried because the payment needs to reach their Alibaba-linked bank account. If it arrives as a Payoneer payout instead of a direct overseas wire from us, they’re unsure whether Alibaba let them match it properly. Goods are already in transit and close to arrival, so we urgently need the telex release. Did you successfully did this way of transaction with a supplier?”
“I’d be careful paying outside the platform unless you already have a strong relationship with the supplier. The fee you save can disappear fast if there’s a quality or delivery dispute. I usually think of Alibaba / Made-in-China type platforms as discovery and verification tools, not a reason to skip payment protection or basic due diligence.”
“You need a small ticket interchange + program fees schedule. The flat rate of 2.90% and 30 cents is a killer for any merchant. Especially ones with debit card acceptance. That is 0.05% and 22 cents per transaction cost for all processors. Stripe profit 2.85% and 8 cents. Pretty bad deal for the merchant to be priced like that”
“I'm using a credit union and they flag everything. It's been a nightmare trying to connect my business debit card to Amazon and especially Amazon Mexico, Canada, and Brazil. Amazon Brazil won't even take my personal debit card and it's super frustrating. I was thinking about switching to Mercury anyways, but this is the main reason. Has anyone had problems authorizing their credit or debit card with Mercury? submitted by /u/Big_Seat2545 [link] [comments]”
“No matter what, if you are conducting business in local currencies (invoices, payroll, etc.) you’ll need a local bank. Alternatively, you invoice out of your US bank and handle everything through wires. What exactly are you trying to do? Being a bit more specific may yield better responses to your question.”
“The whole flow is just painful. And the tax headache with every transfer and swap makes it even worse.”
[PayPal] ★★★ 3/5 (v8.107.2) — I find PayPal very unhelpful I have moved to another country and need to either change or open a new PayPal account not really sure what to…
“It's genuinely wild to me that this part of the industry hasn't been regulated. Banks and credit card companies, despite having all the info at their fingertips, seem to be able to do the most minimal of fraud prevention and despite obviously being biased, are in a position of ultimate authority in regards to chargebacks with no oversight. If they approved it, they should pay for it.”
“dont collect card or bank info in a normal form, email, pdf, etc. use Stripe, QuickBooks payments, or whatever processor you already trust so the actual card data never touches your inbox or database. for my small client work, the cleanest flow has been: short intake form first, then proposal/engagement letter, then payment setup, then kickoff. payment setup means either an upfront invoice link or a saved payment method through the processor with clear authorization language. no "send me yo”
“How do you guys handle PCI compliance? I've seen that von payments have a vora platform that also includes network tokenization to improve security with compliant virtual termnials but is there anything else I should be looking at? I know things like secure vaulting and regular security assessments matter so what else am I missing?”
“What payment processor do u use to be able to generate such a large volume of payments”
“Wire transfers have stronger security protocols than normal ACH or other electronic payment methods. The extra cost is due to the fact that there are verbal call backs and cross checks.”
“I think this is where Clover gets confusing for a lot of small business owners. Clover POS systems are the hardware/software platform, but the actual deal you sign can be very different depending on who sold it to you. Sometimes it is Clover directly, sometimes it is a bank, and sometimes it is a Clover reseller or ISO that bundles the hardware with Clover merchant services, processing rates, monthly fees, and a separate equipment lease. A lot of the horror stories I see are not really “the Clov”
“Wait. Sorry I spoke before coffee. Looks like it's only on certain payment types like PayPal Wallet. When it is available it's in $nn.nn USD was Authorized using XYZ payment method . > Information from Gateway > Payment Method details. There are lines for Address 1.”
“High transfer/payment limits An individual (legally) doing that much cross-border volume probably should get a large or specialist bank involved.”