Alternative to Wise Thread poster: Mahalia Acapandié
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Hello,
A Canadian direct customer can't pay me by Wise (“their system doesn't allow it”) to avoid exorbitant bank fees. As a result, he is offering me payment by credit card, which would avoid paying the said fees. Do you know what this means, knowing that I'm based in France?
Thank you in advance.
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Wise has an option to send the client a payment request by email. Try and see if if gives them an option they can use.
Wise supports EFT CREDIT/DIRECT DEPOSIT, a standard payment method, to your local Canadian Wise bank account number in Canada. Do you have a local CAD Wise account with bank account details already? Maybe that's the problem.
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Thank you Thomas and Maria Teresa.
I've asked Wise customer service, but they can't tell me what the fees are for a transfer using the Wise Canadian account method. Would you know how I could get this information?
[Modifié le 2024-10-01 10:01 GMT]
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| Payment by card is fine | Oct 1, 2024 |
Payment by card is quick and reliable (both seller and buyer having reasonable protection), but you need to set up a merchant account with a processing bank (your own bank may offer that, or you may shop around for card payment processors). Processing a card payment incurs a fee, which may be a fixed amount (like €0.20 - €1) or a percentage of the payment (0 to 3%, anything bigger than that is no longer reasonable). Doing it for just one payment probably makes no sense, but if you want to ke... See more Payment by card is quick and reliable (both seller and buyer having reasonable protection), but you need to set up a merchant account with a processing bank (your own bank may offer that, or you may shop around for card payment processors). Processing a card payment incurs a fee, which may be a fixed amount (like €0.20 - €1) or a percentage of the payment (0 to 3%, anything bigger than that is no longer reasonable). Doing it for just one payment probably makes no sense, but if you want to keep accepting cards in the future, it's a convenient way to receive money. ▲ Collapse
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Mahalia Acapandié wrote:
I've asked Wise customer service, but they can't tell me what the fees are for a transfer using the Wise Canadian account method. Would you know how I could get this information?
ChatGPT said: 'For Business Accounts: Businesses may face charges for sending EFTs or direct deposits. The fee is typically between $0.50 and $1.50 per transaction, though some banks may offer packages that include a certain number of free transactions. Banks often offer monthly account plans that include a certain number of EFT transactions for a flat fee.'
Your client will probably survive that fee. Once you have a CAD-denominated account with Wise and its Canadian bank account number, your client's EFT payment is just like any other Canadian EFT payment. It's not specific to Wise.
You just need to point out to them not to use any other transfer method, as it could be rejected and subjected to high fees. It must be EFT.
I've only been paid from Canada once but had no problem with this method.
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Thanks Thomas. That's very helpful.
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