My husband and I own a couple of small businesses that we started to ensure that we have more than one revenue stream and are never reliant on one income source. One of these ventures involves shipping and ordering from overseas.
That, in turn, involves making often substantial payments in different currencies.
In the past we have made all these payments using the same banks where we have our business accounts here in the local area where we live.
Through them we do a wire transfer of the money to the overseas banks used by the companies where we are buying the products, and our banks charge a fee of $45 for the service.
That would be a very reasonable fee to pay, if that was all there was to it.
That, in turn, involves making often substantial payments in different currencies.
In the past we have made all these payments using the same banks where we have our business accounts here in the local area where we live.
Through them we do a wire transfer of the money to the overseas banks used by the companies where we are buying the products, and our banks charge a fee of $45 for the service.
That would be a very reasonable fee to pay, if that was all there was to it.
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