02thoeva

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hace 3 añosdiscuss

Thanks, we'll speak with Barclays then :)

hace 3 añosdiscuss

We use Wise but their USD accounts are US-domiciled. So we have 3 options: - Continue paying out to Wise and incur an additional 1% fee (~$30k per year) - Use Stripe for currency conversion which is additional 2% fee (~$60k per year - Find a UK-domiciled USD account to pay out to. Might be possible - no idea really. Need to look into it.

02thoeva

hace 3 añosdiscuss

Same here. This is a massive dent in any of our remaining profit. Realistically we'll need to look to leave

02thoeva

hace 3 añosdiscuss

"UK businesses who are paying out in USD to a US-domiciled bank account will now incur a 1% fee, with a minimum fee of US$2.50."

So if we get paid out a USD payment, into a USD account. We get charged just because we're registered in the UK? That's a huge impact on our business.

02thoeva

hace 4 añosdiscuss

Thanks for sharing. We've just spent the last hour debugging our website, thinking we had issues. This explains it.

02thoeva

hace 5 añosdiscuss

Convertkit is a front-end for Sendgrid, so possibly they use the same format as them?

02thoeva

hace 5 añosdiscuss

I'd expect that the name and address will still be stored in their payment processor.

Then the invoice itself (containing your name/address/payment method) will need to be stored by the company in some form for accounting regulations.

02thoeva

hace 5 añosdiscuss

The very article we've commented under makes this point, but if you want to see the specific agreement: https://ec.europa.eu/commission/presscorner/detail/en/ip_21_...

02thoeva

hace 5 añosdiscuss

There is a draft adequacy agreement between the two which should be signed before the end of June when the transition period ends: https://ec.europa.eu/commission/presscorner/detail/en/ip_21_...

02thoeva

hace 5 añosdiscuss

Not quite, the EU and UK have a draft adequacy agreement in place. Should be signed by the time the transition period ends.