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Bank transfer from abroad: how to invoice. VERY BORING QUESTION!

9 replies

TheYellowestOfShoes · 20/09/2022 18:42

I'm newish to freelance work, but have got the hang of invoicing companies and supplying my bank details so that they can pay me via bank transfer. I use my personal bank account because this is just a side-hustle - I'm not raking in the millions here.

Anyway I've just done some work for a company based abroad. I'm now writing the invoice, stating agreed fee in Euros. But are international and inter-currency bank transfers as simple as domestic ones??

Can I just do my usual paragraph stating:-

Name: Ms Yellow Shoes
Bank: Bloggs Bank
Account number: 01234567
Sort code: 01-23-45

...and let the international banking system do the rest at whatever exchange rate currently applies? Or do I need to do something different?

TIA for any wisdom from people who've been here before...

OP posts:
IHopeYouStepOnALegPiece · 20/09/2022 19:15

If they’re transferring internationally then You need to give them your IBAN and BIC code which should be easy to find under account info on online banking

TheYellowestOfShoes · 20/09/2022 19:21

Thank you. That's extremely helpful. Right, I'll have a look....

OP posts:
parsleydog · 20/09/2022 20:16

Also, your bank will deduct some (small) fees plus use a non preferable exchange rate so I would add an administrative fee/bank charge fee to cover that

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ItsOnlyWordsInnit · 20/09/2022 20:33

parsleydog · 20/09/2022 20:16

Also, your bank will deduct some (small) fees plus use a non preferable exchange rate so I would add an administrative fee/bank charge fee to cover that

This is quite important- try to find out first what fees your own bank will charge so you know what to expect. Make sure your i voice states that the amount in euros is to be transferred without deductikns (ie if the client‘s own bank is going to charge a fee that should be paid on top of the amount owed, not deducted from that amount.
I take it you‘ve clarified whether VAT has to be charged or not? I only know the situation from within a Eurozone country, TBH I don’t think I‘d want to get involved with a UK-based client because I don’t understand the rules fully.
Actually, I had to pay a UK tradesman for a service a few years back, with the money coming from my euro account. The charges from my bank were so horrendous I think I ended up transferring the money by Paypal. I know people have also used Western Union because the charges were that much lower than the bank wanted - and that was pre-Brexit.

TheYellowestOfShoes · 20/09/2022 20:34

That's useful to know, thank you. Any idea how much I should charge to cover this? I'm billing them for £1200 overall.

OP posts:
parsleydog · 20/09/2022 20:43

Best is to find out the exchange rate your bank will use plus their charges. But also the sending bank may impose charges so as PP said, put on your invoice that they should remit without deductions (they can choose this their side). Or just add £35 - £50 admin fee.

also yes check the vat etc

parsleydog · 20/09/2022 20:46

Also give them your swift code too

lannistunut · 20/09/2022 20:55

Does your bank account accept Euros? Check your bank charges for conversion. Most do but some do not.

Andypandy799 · 22/09/2022 16:17

@parsleydog Yeah I thought it was swift number you need

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