Bank Transfer Charges?

[Irene9001]

Hello

We have an affiliate who wants to receive commission through bank transfer facility. I am little bit concerned about processing fees, so I told her that minimum balance required for payout at least more than $200.00 USD. However, I am unaware about bank charges for this, so can you tell me the minimum or approximate amount of processing fees? I know charges may varies from bank to bank, but I guess approximate fees would be much closer to one bank to another......

[Karen P]

Dear,

Banks will generally have different fees depending upon the banks. When someone sends an international bank payment, there are three options :-

Sender Pay Fee
Receiver Pay Fee
Fees Shared

Here sender may opt to pay transfer fees or may select receiver to pay the fees or fees can be shared by both sender as well as receiver but if receiver pays then he will receive less amount which is not recommended however depends upon the understanding between both

Another factor here is currency fluctuation as it depends on that particular date rates.

Let me know if you need any more information

[BillyGreen]

I guess the processing fee can be quite high. It's more cost efficient to use PayPal to transfer money to your affiliate. Does she have a PayPal account? I think PayPal is available in more countries now.

[Irene9001]

The same thing I told her, even, I was surprised But as she is related to with top ranked coupon code site so I thought she was testing me :wink: Anyway, as of now we both agreed on bank transfer option and Karen P already explained everything in a well manner so I would like to say thanks to both of you for valuable response.

[BritishFlag]

Bank fees are generally a lot higher than the ones of the online payment processors (such as PayPal, Moneybookers and ePassporte). You should use bank transfers only if there is a large sum of money that needs to be delivered urgently, because withdrawing funds from your online account of any payment processing company into your bank account takes at least a couple of days.

[Irene9001]

@BritishFlag

Hey thanks for the new information. I will keep this in my mind. One more question I would like to ask, what is the difference between direct deposit and bank transfer or both methods are same?

[MattBarthorp]

Bank/wire transfer refers to an electronic transfer of funds between two bank accounts. While Direct deposit can be done via. various methods such as check, cash, etc. (or even electronically). It goes through an Automated Clearing House (ACH) system.

[markshah2]

Still there are many countries where PayPal is not available like Pakistan, Indonesia.

[Rossi]

Still there are many countries where PayPal is not available like Pakistan, Indonesia.

We do have a option of Bank transfer in that case. Clients from Pakistan or Indonesia can select the payment gateway as Bank Transfer while placing the order. Invoice generated for the same order will have our Bank details in it. Client has to deposit that amount on the provided account number in order to make payment.