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Help, I'm getting killed by international wire-transfer fees

2 points by moge ↗ HN
I found a really great and affordable SCRUM based development team that is based in Argentina. The problem is is that their bank charges $70 wire-transfer fee and mine charges $35. Which means I am paying an extra $105 per invoice.

As a self-funded startup this is a hard pill to swallow. Any tips or advice on ways to avoid these fees?

6 comments

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hector_ka
can you use western union?
ivanstojic
Generally speaking, that's even worse than bank transfers...
gexla
Wow, that's quite expensive. As another poster mentioned, looking into a currency exchange service such as xe.com would be a good idea. Essentially you do an ACH transfer to them and then they do a transfer to the recipients bank account. Not only is the transfer cheaper than a wire, but you should get a better exchange rate.
gerakinis
You could solve it the way that my employers have: take your end of the cost out of their invoice.... I didn't think it was the best solution ever, but I honestly didn't have enough leverage to do anything about it, either. I'll probably just bill more next time =p
nolite
xe is awesome.. been using them for 10 years now