Questions

Some clients prefer to send "check" or "direct bank transfers". However, I'm not sure how that can work in our situation. Our company bank account is with Indian bank (who has intermediary account at JP Morgan - NY). Any other recommended channels to receive invoice payments overseas (especially India)?

Best to use PayPal.

If you use an alternative, that means your clients must pay you via the alternative method too.

This means a long conversation/pitch to inspire them to use your alternative.

When I send big chunks of money to people overseas, I only send via PayPal.

If they don't use PayPal, I don't do business with them.

If you pick an alternative, make sure you factor in the extra expense of time required to pitch your clients + also time required to resolve problems with alternative payment system when problems occur...

Like can you reach a human? Do they speak your language? What happens when money's lost? What happens when client requests a chargeback/refund?

PayPal is big because they have worked out many kinks related to the above questions + many other edge conditions, that alternatives have challenges processing.


Answered 4 years ago

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