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Most economical way to make USD payments?

Discussion in 'Business Discussions' started by donton, Aug 14, 2015.

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  1. donton United Kingdom

    donton Active Member

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    I'm looking for a little advice regarding paying a supplier in the USA.

    We started out buying a couple of hundred dollars of stuff at a time and paid by PayPal. We then progressed to small four figure orders and used Visa to pay.

    Our spend with them has increased and we are getting spanked with fees when paying by Visa (a transaction fee and not great exchange rates).

    Can anyone recommend a more economical way for us to pay our supplier in USD without spending a fortune on forex fees?

    Thank you in advance!
     
  2. Domain Forum

    Acorn Domains Elite Member

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  3. martin-s United Kingdom

    martin-s Well-Known Member

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  4. getmein United Kingdom

    getmein Active Member Exclusive Member

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    Use a broker - I use currencies direct but there are lots of options like transferwise etc
     
  5. accelerator United Kingdom

    accelerator Well-Known Member

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    Convincing them to accept Bitcoin = next to zero fees.
     
  6. bonusmedia United Kingdom

    bonusmedia Well-Known Member Exclusive Member

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    Except the fees to buy bitcoin and their fees to sell bitcoin for actual money

    Transferwise is excellent
     
  7. namealot United Kingdom

    namealot Well-Known Member

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    Some of the prepaid credit cards used to offer no fee transactions etc and you could load it with preferred currency immediately to take advantage of any weakness/strengths in exchange rates etc Unlike debit and credit cards, which calculate your exchange on the day you spend, with many prepaid cards, it's the rate on the day you load that's important. If the £ weakens after you load the card, you'll gain, if the pound strengthens, you'll lose? They might be worth looking into?
     
  8. donton United Kingdom

    donton Active Member

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    Thank you for all of the advice and suggestions!

    I'm going to spend a couple of hours ringing round tomorrow to find out who can offer the best deals.

    Thanks again, and I shall keep you posted on who I go with in the end...
     
  9. woopwoop United States

    woopwoop Well-Known Member

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    Transferwise.com

    I love it. Efficient, 2-3 days, very low fees and safe.
    Have used it to send from UK to US and back. I even pay the Student Loans Company using them.

    Only thing is you need to get the bank details of recipient for the wire - some may be hesitant.
     
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