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02thoeva

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02thoeva
·3 anni fa·discuss
Thanks, we'll speak with Barclays then :)
02thoeva
·3 anni fa·discuss
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
·3 anni fa·discuss
Same here. This is a massive dent in any of our remaining profit. Realistically we'll need to look to leave
02thoeva
·3 anni fa·discuss
"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
·4 anni fa·discuss
Thanks for sharing. We've just spent the last hour debugging our website, thinking we had issues. This explains it.
02thoeva
·5 anni fa·discuss
Convertkit is a front-end for Sendgrid, so possibly they use the same format as them?
02thoeva
·5 anni fa·discuss
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
·5 anni fa·discuss
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
·5 anni fa·discuss
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
·5 anni fa·discuss
Not quite, the EU and UK have a draft adequacy agreement in place. Should be signed by the time the transition period ends.