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Hi Simon, posted to market.buy-sell-trade too.
There are a number of methods that I know of, depending on how much
trading you plan to do:
Send US currency: For small one off trades, this is not bad. A bit high
risk but does usually work. You should not have to pay too much to get
it changed back to sterling.
Send UK currency: Ditto, if your buyer is in a major city, she snould
not have to pay too much to buy sterling, and of course, you're all set
on receipt, you could take it to the pub straightaway and drink up your
profits.
Send an International Money Order: You can buy these at a US post
office. Cost is fairly reasonable for her. In the UK you should not have
much trouble cashing it. Check to see if you have to pay a fee and
charge her that. In OZ, it seems that it costs quite a bit to cash
these.
Have her pay in merchandise: Is there a set you want of about the same
value? have her buy it and send it.
Wire transfer: Ultrareliable and fast for large trades but pricey.
Find a Factor: If you have a US factor, have your buyer send the factor
the money. That makes it purely domestic, total cost is a check and a US
stamp. periodically use one of the above methods to settle with your
factor, if you have a balance. Best if you plan to have a long ongoing
buy/sale process, are going to come out about even in the long run, and
are not in a hurry for the money.
I factor for folks in the UK, Germany, NZ and Australia. Works well,
although I do need reminding from time to time. They're all patient and
help me correct the occasional mistake. I use a spread that I mail them
to show how the transactions are progressing and what their current
balance (+ OR -) is. In some ways I am a bit like a bank!
Long term I hope that Lugnet puts me out of business. I am considering
taking on more factorees, anyone can contact me if interested. For long
term factorees, I charge 1 dollar per payment received and 50 cents per
payment originated to a domestic recepient, or actual costs in either
case if more. For short term factorees (one auction, for example) we
work together to determine what cost recovery we will need to put in
place. (for example, Horst and I decided we needed to charge 3 bucks to
recover costs)
Note that most RTL/LUGNET trades are conducted in US currency for ease
of calculation.
I really SHOULD write up the factoree process and post it on my website,
I do much more of it than I do trusted intermediary which I did write
up.
Simon Robinson wrote:
>
> Anyone any experiences with what the best way to pay someone
> in another country is?
>
> I'm in the UK and just about to sell a set to someone in the US,
> and because it's the first time either of us have traded abroad,
> neither of us know exactly how she can/should pay me!
>
> Simon
> http://www.SimonRobinson.com
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| Anyone any experiences with what the best way to pay someone in another country is? I'm in the UK and just about to sell a set to someone in the US, and because it's the first time either of us have traded abroad, neither of us know exactly how she (...) (26 years ago, 17-Feb-99, to lugnet.market.shipping)
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