Getting paid renting.

[Cyberc1978]

PayPal have a very bad exchange rate for any currency they exchange in to.

Starting from the 1/1-2021 PayPal will charge a 3% fee for any transfers made from your PayPal account to a US bank account.

What are my options as a European if I need to rent some of my points? - using PayPal already charges extra fees if I receive funds outside Europe.

I know I could use Revolut or TransferWise but my assumption is that not many Americans use those services.

regards.

 

[fgaini]

I use zelle quite a lot, but you need a us account.

 

[Cyberc1978]

I use zelle quite a lot, but you need a us account.

I have a US bank account through TransferWise. However it seems that I need a US phone number to be able to set it up and I don’t have that.

Any way around that?

 

[fitnessmouse]

I have a US bank account through TransferWise. However it seems that I need a US phone number to be able to set it up and I don’t have that.

Any way around that?

I got a us phone number through the textnow app

 

[Cyberc1978]

I got a us phone number through the textnow app

I’ve tried setting up an account but it keeps givin me an error.

what kind of address are you using - a random one?

and what kind of debit card are you using a US or international one?

 

[fitnessmouse]

I’ve tried setting up an account but it keeps givin me an error.

what kind of address are you using - a random one?

and what kind of debit card are you using a US or international one?

I am using a postal address from a us mail forwarding service. I guess you can use any us address.
i am not paying for the text now app i am using the free app. You need to call or text once a month if you want to keep the number. I set it up through my phone. I do use a us apple account. If you want to set it up through desktop pc maybe it needs vpn

 

[Cyberc1978]

I am using a postal address from a us mail forwarding service. I guess you can use any us address.
i am not paying for the text now app i am using the free app. You need to call or text once a month if you want to keep the number. I set it up through my phone. I do use a us apple account. If you want to set it up through desktop pc maybe it needs vpn

Finally got some more time to try and get the Zelle app to work.

When I add my debit card details and afterwards my address, the app returns to my debit card and says an has occurred

Did you use a random debit card? and btw the bank I have in the US is not listed in the app either how to receive my funds if they can't get deposited

ETA: Seems that my bank is not part of the zelle network. I therefore need a debit card which supports deposits.

Are you using a bank or a debit card with the Zelle app?

 

[chrish2]

Are you renting direct or via a broker? We approached one broker who inisted on having an ITIN, applied to IRS in August, arbitrary rejection received just before Christmas. IRS helpline hinted (as much as they could hint) that many with rental income use a broker without an ITIN and take the hit on the withholding tax @ I think 30%.

 

[Cyberc1978]

Are you renting direct or via a broker? We approached one broker who inisted on having an ITIN, applied to IRS in August, arbitrary rejection received just before Christmas. IRS helpline hinted (as much as they could hint) that many with rental income use a broker without an ITIN and take the hit on the withholding tax @ I think 30%.

Direct, but I first need a way of getting paid, and Zelle was a good choice but it seems that you either need a US bank account with a partner bank or a debit card that support cash funding,

 

[Cyberc1978]

I use zelle quite a lot, but you need a us account.

I have a us bank account but it’s not known by zelle so I need a debit card which support deposits. Any way around that?

 

[Mkaiser1]

Stupid question but why wouldn't you just have the dollars paid into your UK bank account and use your banks exchange rate?

Another stupid question: How do you get a US bank account as a UK resident?

 

[Cyberc1978]

Stupid question but why wouldn't you just have the dollars paid into your UK bank account and use your banks exchange rate?

Another stupid question: How do you get a US bank account as a UK resident?

That would actually be awesome if it was possible. However most renters prefers Paypal and paypal have a terrible exchange rate when it comes to converting from USD to anything else or from any other currency for that matter.

On top Paypal have just introduced a new 3% fee for transfers US funds to a US bank account in the US, but only IF you are not a member of the US paypal site. Basically anyone using that way of getting your money will need to pay 3% of your funds to receive them.

If you add af non US bank account to your paypal, then paypal will convert the money to your local currency when the transfer is initiated. So even with a USD bank account in England that wouldn't work as Paypal will just convert the money to GRP no matter what you do :-(

 

[Mkaiser1]

That would actually be awesome if it was possible. However most renters prefers Paypal and paypal have a terrible exchange rate when it comes to converting from USD to anything else or from any other currency for that matter.

On top Paypal have just introduced a new 3% fee for transfers US funds to a US bank account in the US, but only IF you are not a member of the US paypal site. Basically anyone using that way of getting your money will need to pay 3% of your funds to receive them.

If you add af non US bank account to your paypal, then paypal will convert the money to your local currency when the transfer is initiated. So even with a USD bank account in England that wouldn't work as Paypal will just convert the money to GRP no matter what you do :-(

Interesting! Presumably if you rent through a broker the broker gets paid and then they can pay into you UK account?

 

[Cyberc1978]

Interesting! Presumably if you rent through a broker the broker gets paid and then they can pay into you UK account?

Hands down I dont know all of the brokers, but from what I've read, they also use Paypal and at least one of them covers all fees. However the poor exchange rate is hardly a fee.

I'm wondering if a renter will accept to pay in GRB, DKK, EUR or any other currency when you make the rental through paypal? You do have the option to pay in a foreign currency and then be charged in your own local currency.

 

[BrerRemus]

We were paid in disney e gift card and just paid it straight off our dues.

 

[starry_solo]

Hands down I dont know all of the brokers, but from what I've read, they also use Paypal and at least one of them covers all fees. However the poor exchange rate is hardly a fee.

I'm wondering if a renter will accept to pay in GRB, DKK, EUR or any other currency when you make the rental through paypal? You do have the option to pay in a foreign currency and then be charged in your own local currency.

right, but that also costs the renter fees to do so. Like 3-5%. PayPal gets people both ways.

 

[disneyholic family]

i get paid to my paypal account and use the dollars there for purchases in dollars.
.

 

[meryll83]

Interestingly someone paid me in dollars the other day, but it appeared in my account as £ automatically...

 

[Cyberc1978]

Interestingly someone paid me in dollars the other day, but it appeared in my account as £ automatically...

In your bank account or PayPal account?

 

[disneyholic family]

Interestingly someone paid me in dollars the other day, but it appeared in my account as £ automatically...

it appears as pounds, but it remains in dollars and you can use it as dollars.
there should be a place in your account that says how much it is in dollars.
At least that's how my paypal works.

.