Peter L Posted November 18, 2020 Share Posted November 18, 2020 Hi All, I'm having a really difficult time trying to pay for a piece of art from a dealer in the UK. I paid for part of my art using a credit card through their website (and I paid the additional fees) but they want me to use something called Transferwise which is like a debit from my bank account. Of course I like the additional security a credit card transaction brings and as well as I don't like people having access to my account. I asked for the credit card portal again and she said that my card was flagged last time, but I believe the money went through. She claimed that the problem was that my credit card transaction was red flagged. My credit card company never notified me and I think the first payment went through fine. I offered to pay for paypal and pay the extra fees but haven't heard back yet. I have bought from most of you dealers without issue in the past and I never had a problem. This seems like an unusually difficult transaction. Have you ever used Transferwise? What do you think? Link to comment Share on other sites More sharing options...
BanjerD Posted November 18, 2020 Share Posted November 18, 2020 I live in Japan and have used Transferwise quite a bit over the last two years. The fees are very reasonable and the process seems quite secure. I can transfer money directly if I know the other person's account and routing #s. It is also possible to send money to an email address (without knowing account info) and they can enter the account/routing themselves. I can recommend Transferwise Peter L and Twanj 2 Link to comment Share on other sites More sharing options...
Peter L Posted November 18, 2020 Author Share Posted November 18, 2020 Thanks that is good to hear. It was really strange and I don't like the idea that my personal and banking info is out there. I would rather just stay with credit cards and paypal. Link to comment Share on other sites More sharing options...
Noob19 Posted November 18, 2020 Share Posted November 18, 2020 Have used it once (for a purchase from Kirby's Art). Went smoothly. timguerrero 1 Link to comment Share on other sites More sharing options...
Taylor G Posted November 18, 2020 Share Posted November 18, 2020 (edited) For big budget items involving currency transfers, a credit card is inadvisable, and the exchange rates that banks offer are not much better. Transferwise has a clever business model where they try to balance funds transfers in their network in both directions between two currencies, as much as possible avoiding the currency markets altogether. The only drawback I've had is the braindead US banking system that makes transfers into Transferwise's network expensive ($30) and inconvenient. But once the funds are in their system, the holdup in transferring funds is usually the banks themselves that require manual checks. When I've sold OA, I don't accept payment by CC, too much scope for chargeback fraud. Regular vendors accept it as the cost of doing business, part of their overhead. If you're not sure you can trust the seller, ask for references. Edited November 18, 2020 by Taylor G timguerrero 1 Link to comment Share on other sites More sharing options...
Peter L Posted November 18, 2020 Author Share Posted November 18, 2020 I think using a CC with some protection against lost or stolen packages, especially with our current mail system problems, is preferable to me, even if I have to pay the CC fees or increased paypal fees. For the price I am spending, it is negligible to me in comparison to the total cost of the art and peace of mind. There is also the advantage of expenditure tracking through credit card and paypal vs Transferwise and other accounting advantages. Our hobby is blessed with so many great dealers that make buying art so easy. Link to comment Share on other sites More sharing options...
Peter L Posted November 18, 2020 Author Share Posted November 18, 2020 There is the stink of a bad transaction experience spoiling this art I just bought. Link to comment Share on other sites More sharing options...
aqn83 Posted November 18, 2020 Share Posted November 18, 2020 I really don't understand the issue. I've used Transfer wise a number of times for various dealers. timguerrero 1 Link to comment Share on other sites More sharing options...
AnkurJ Posted November 18, 2020 Share Posted November 18, 2020 Used many times with no issues. timguerrero 1 Link to comment Share on other sites More sharing options...
cesium_7 Posted November 19, 2020 Share Posted November 19, 2020 I’ve found Transferwise to be the best way to accept/make international payments. Low fees and good exchange rate. Link to comment Share on other sites More sharing options...
Xatari Posted November 19, 2020 Share Posted November 19, 2020 If you’re taking about TransferWise with Kirby’s, it’s super easy. I have purchased several pieces from Annabel using TW and love it. Never had an issue. Link to comment Share on other sites More sharing options...
timguerrero Posted November 22, 2020 Share Posted November 22, 2020 I also used it for a transaction with Annabel it just ended being more expensive for me altogether but it at least worked. Link to comment Share on other sites More sharing options...