Quote from: namussi on July 06, 2018, 06:11

Does this have the potential to revolutionise payments for EU contributors?!


I'm going to go with Betteridge here.

Betteridge's law of headlines - Wikipedia
https://en.wikipedia.org/wiki/Betteridge%27s_law_of_headlines
Betteridge's law of headlines is an adage that states: "Any headline that ends in a question mark can be answered by the word no." It is named after Ian Betteridge, a British technology journalist, although the principle is much older.

LOL okay, not sure how how to word the question without a question mark! by the sounds of it you can get unlimited market rate currency conversions for �6.99, is my point.

Does this have the potential to revolutionise payments for EU contributors?!


I'm going to go with Betteridge here.

Betteridge's law of headlines - Wikipedia
https://en.wikipedia.org/wiki/Betteridge%27s_law_of_headlines
Betteridge's law of headlines is an adage that states: "Any headline that ends in a question mark can be answered by the word no." It is named after Ian Betteridge, a British technology journalist, although the principle is much older.

There would actually be a headline like that which would be followed by a question... the answer to which would probably  still be a no. I.e. "Do you prefer blue or red? Could your favourite colour say something about how long you will live?"

Headlines made purely of questions are pretty much unheard of. Headlines with a question and then some kind of follow up are still pretry rare but a lot more common.

Both Revolut and Transferwise are good: low currency conversion fees, free prepaid cards, free atm up to �/�/$100 per month...

But how do you get paid from stock agencies?

- Major sites don't send bank transfers to European contributors;
- Some that do (Creative Market) only pay to your own country; both Revolut and Transferwise give us only a German IBAN, so other european countries are out of luck; and even Germans can't receive payments in dollars to their German IBAN;
- Payoneer does not allow Europeans to withdraw in dollars;
- Paypal does not allow to withdraw in a different currency and to a different country than your own;

So I still haven't found a way to be paid from stock agencies to Revolut or Transferwise.

Unless agencies decide to work with them directly, there's potential but no actual way.

Any ideas?

Quote from: PeterChigmaroff on July 07, 2018, 10:01

Quote from: msg2018 on July 07, 2018, 05:43

Both Revolut and Transferwise are good: low currency conversion fees, free prepaid cards, free atm up to �/�/$100 per month...

But how do you get paid from stock agencies?

- Major sites don't send bank transfers to European contributors;
- Some that do (Creative Market) only pay to your own country; both Revolut and Transferwise give us only a German IBAN, so other european countries are out of luck; and even Germans can't receive payments in dollars to their German IBAN;
- Payoneer does not allow Europeans to withdraw in dollars;
- Paypal does not allow to withdraw in a different currency and to a different country than your own;

So I still haven't found a way to be paid from stock agencies to Revolut or Transferwise.

Unless agencies decide to work with them directly, there's potential but no actual way.

Any ideas?

TransferWise has something they call a Borderless account. I've only started to use it but it shows promise. Once you're set up it only takes a click or two to create bank accounts in Euros with Swift and IBAN numbers, GPB with sort codes, USD with wire routing etc. Internally it's a small fee to do currency exchange if needed. Fees seem quite reasonable compared to PP.

I know, exchange rates are great (less than 1% compared to over 3.5% Paypal) and already use TransferWise Borderless accounts for other freelance work.

But Shutterstock, Fotolia, iStock and most top sites (with the exception of Alamy) won't pay European artists to a bank account! That's the problem.
Those that do (PanterMedia, ColourBox, MostPhotos, Zoonar, ScanStock) are irrelevant because sales are almost non-existent.

Quote from: PeterChigmaroff on July 07, 2018, 12:06

Quote from: msg2018 on July 07, 2018, 11:49

Quote from: PeterChigmaroff on July 07, 2018, 10:01

Quote from: msg2018 on July 07, 2018, 05:43

Both Revolut and Transferwise are good: low currency conversion fees, free prepaid cards, free atm up to �/�/$100 per month...

But how do you get paid from stock agencies?

- Major sites don't send bank transfers to European contributors;
- Some that do (Creative Market) only pay to your own country; both Revolut and Transferwise give us only a German IBAN, so other european countries are out of luck; and even Germans can't receive payments in dollars to their German IBAN;
- Payoneer does not allow Europeans to withdraw in dollars;
- Paypal does not allow to withdraw in a different currency and to a different country than your own;

So I still haven't found a way to be paid from stock agencies to Revolut or Transferwise.

Unless agencies decide to work with them directly, there's potential but no actual way.

Any ideas?

TransferWise has something they call a Borderless account. I've only started to use it but it shows promise. Once you're set up it only takes a click or two to create bank accounts in Euros with Swift and IBAN numbers, GPB with sort codes, USD with wire routing etc. Internally it's a small fee to do currency exchange if needed. Fees seem quite reasonable compared to PP.

I know, exchange rates are great (less than 1% compared to over 3.5% Paypal) and already use TransferWise Borderless accounts for other freelance work.

But Shutterstock, Fotolia, iStock and most top sites (with the exception of Alamy) won't pay European artists to a bank account! That's the problem.
Those that do (PanterMedia, ColourBox, MostPhotos, Zoonar, ScanStock) are irrelevant because sales are almost non-existent.

I get what you're saying. The trick seems to be getting the money out of PayPal in the currency they establish without having to use their exchange services. What I don't know is can you send from PP to TW in that currency, what ever it is. If you can, then you can access a much better exchange rate with TW or just move the PP currency to your home account with TW. It is a two stage process but can save quite a bit of money.

This is exactly the problem. PayPal only allows to withdraw to a bank account in the local currency of the account holder. They'd do the conversion from USD to e.g. EUR, using their horrendous rate, before the money reaches TW.

There may be some exceptions or workaround in some specific countries (e.g. here: https://jeangalea.com/changing-paypal-withdrawal-currency/ ).

"is this the cure for cancer?"

The answer is no, otherwise the headline would have read "This is a cure for cancer".