02thoeva · HackerTrans

3 yıl öncediscuss

Thanks, we'll speak with Barclays then :)

3 yıl öncediscuss

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 yıl öncediscuss

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

02thoeva

3 yıl öncediscuss

"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 yıl öncediscuss

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

02thoeva

5 yıl öncediscuss

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

02thoeva

5 yıl öncediscuss

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 yıl öncediscuss

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 yıl öncediscuss

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 yıl öncediscuss

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

02thoeva

6 yıl öncediscuss

Yep, although the phone call requirement is a new one and was introduced by a sneaky update to their terms: https://twitter.com/rtwlz/status/1341581686216245248

02thoeva

6 yıl öncediscuss

Run a business here, oh and we use Baremetrics too. To be 100% clear we never want to call you or Brian.

Listen to your customers here.

If there are people that want a call, offer the option, but please don't force it. And don't do sneaky updates to your terms which make this a requirement.

02thoeva

6 yıl öncediscuss

Long time customer of Baremetrics here. And this shady practice is really really offputting, to the extent where we are now looking into cancelling (without a phone call, of course)

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