International contractors aren’t just a luxury for large enterprises anymore. They’ve become a vital part of many small and medium sized businesses as well. So, finding an efficient way to pay overseas contractors (on time) is critical to maintaining these strategic partnerships. Here are a few things to keep in mind and watch out for. Hidden Fees People usually default to their bank for international payments – mainly due to habit. However, they often find … Read More
How PayPal’s Currency Pricing Changes Can Affect Your Bottom Line
PayPal has announced that it is making changes to their legal agreements with certain customers in the US and Canada. Some of these policy updates mean that customers will be charged higher rates when converting currency. This in turn means they will lose more money while dealing with international payments. We’re going to take a look at the changes PayPal are making that will have an impact on the accounts of customers in the US … Read More
What is the Best Way For Canadian Freelancers To Get Paid?
More and more Canadians are beginning to work as independent contractors. Some are forced to, due to lack of job security in certain industries. Others are choosing to do so to have more flexible hours and gain varied experience. There are also some who opt to freelance in their spare time to make more money on the side. Regardless of why any Canadian is freelancing, one issue they all face is the stress of receiving … Read More
The Best Way for Indian Companies to Receive International Payments
Many of the world’s finest software companies are based in India. Indian companies have major clients across the world, including in the US and Europe. Unfortunately for these Indian companies, figuring out the best way to receive payments from international clients can be a stressful process. This stress is caused by numerous headache inducing factors such as dealing with bad foreign exchange rates and trying to communicate with partners in different time zones. Perhaps the … Read More
Everything You Need To Know About ACH Payment Processing Times
ACH payments are electronic payments made through the Automated Clearing House network – a network that coordinates electronic payments and automated money transfers. ACH is a batch processing system that handles millions of payments at the end of the day, thus eliminating the need to manually handle payments. The two central clearing facilities: The Federal Reserve or Payments Canada – receive batches of ACH entries from financial institutions. The ACH operators then process the batch … Read More
What is the Best Way to Receive Payments in a Foreign Currency?
Modern technology has made doing business internationally so much easier. Ease of travel, content management systems, instant messaging, video conferencing and several other advancements have made it so much easier to get clients throughout the world. But figuring out the best way to collect payments from your international clients can still be stressful. Calculating exchange rates and communicating with partners in different time zones is not always easy. Here are some of the options … Read More
REMITR Guide: Everything You Need To Know About EFT Payments
Having the ability to send money as quickly and easily as possible is key to modern life. You might need to repay a friend for lunch, or send money to your kids in college. You may be working overseas, and need to send remittances home to support your family in your home country. And it’s not just people who need a stress free way to send money. The modern day business does too. Companies now … Read More
Western Union Canada: Payment Fees And Exchange Rates
In order to avoid the hefty wire transfer fees charged by banks, many people have turned to money service businesses (MSBs) to send money internationally. One of the most popular MSBs that is used, is Western Union. Western Union Canada has been a popular option for people sending remittance payments to family members back home, or simply paying online for something from abroad. But is Western Union really the best option to send money overseas … Read More
What Are Telegraphic Transfers And How Do They Work?
A telegraphic transfer is an electronic method of transferring funds, utilized primarily for overseas wire transactions. Originally, as the name suggests, telegraphs were used to communicate the transfer between financial institutions. However, telegraphs have become obsolete, with modern technology now allowing cable networks to transfer funds. As a result, you may also see the telegraphic transfer being referred to by the more general term wire transfer. Telegraphic transfers are a safe way to send money … Read More
Everything You Need To Know About Sending Money Online
Being able to send money online has made life so much easier for customers and businesses. There’s no longer any need to get cash out, or worry about it getting lost or stolen. There’s also no more waiting around for cheques to move through the mail. Sending money online is easy – but you don’t want transfers to cost you in steep charges or delivery delays. So, to help you avoid hefty fees, here’s everything … Read More