In the USA do you ha
[2022-01-26 05:59:25 AM] : In the USA do you have standing orders in your banking system? Is that a thing? ... I've won a new coaching contract (yay!) and we've agreed to spread the fee over 7 months. In the UK I'd ask them to setup a standing order for the regular payment. Do you have that in the USA? ... I've also looked at setting up GoCardless and a direct debit but that will charge me 2% which I'd rather avoid but might equally try if the standing order is not an option. FYI standing orders are fee free and its a reasonable amount (yay again!) Thank :slightly_smiling_face:
3 Replies
[2022-01-26 07:50:01 AM] : the US banking system is a hilarious joke
[2022-01-26 07:50:37 AM] : the low fee options is "ACH", direct bank to bank transfer, but that only works for US bank accounts
[2022-01-26 07:51:40 AM] : if you have some sort of payment accepting service, some of them will take ACH for lower transaction fees, and then you'd pay whatever "get it out of US" fee
[2022-01-26 07:53:25 AM] : freshbooks for example does 1% ACH fee, and can do repeat payments
[2022-01-26 07:53:48 AM] : (but you'd also have to pay their monthly fee; I use it for time tracking and invoicing mostly)
[2022-01-26 08:17:20 AM] : but in general, if you find a payment thing that does ACH, the incoming fees will be lower, and then you can match it with the fees of transferring to your account
[2022-01-26 08:19:47 AM] : Humm... a) at least I wasn't missing anything obvious ... b) hopefully we can arrange something.
The goCardlesss does look like an option but it is 2%
We could just do bank transfers but want something more automated as there will be 7 or 8 payments in the end.
[2022-01-26 08:19:59 AM] : Thanks for the info
[2022-01-26 08:23:13 AM] : I have seen alternatives with lower fees in the past
[2022-01-26 08:23:29 AM] : so if it's big enough sum you might want to spend another 10 minutes looking
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[2022-01-26 08:25:29 AM] : (also you may find client would rather just put their credit card in)