I've finally found a way to avoid the cheeky GD fx fees. I could never seem to combine a UK based address, with a request for payment in USD to a UK bank account - and I couldn't set it up with a UK address and US based bank account. As a test I added my GBP wise.com bank account details, along with sort code and account number, along with the swift code for transferwise - had the payment currency set as USD in afternic and it's all come through as USD (minus the wire fee) and I've probably saved 80% of the FX fees. Probably adds 2% to the net amount on a sale - not much, but money for nothing (as it clearly was for GD).
Afternic Payments - FX fees
- Thread starter getmein
- Start date
Hook
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- Jul 8, 2024
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If you are using TransferWise, you can just accept payment in USD to your GBP and they'll do the FX at spot price. And vice versa. Paying for USD with your GBP account will still be cheaper than letting the 3rd party facilitate the FX.
I used to accept affiliate payments in USD to my high street bank, they got an untold amount of cash from me because it is so hard to figure out... used Wise for 4 years and never looked back once.
I used to accept affiliate payments in USD to my high street bank, they got an untold amount of cash from me because it is so hard to figure out... used Wise for 4 years and never looked back once.