| ||Ask HN: How to pay developers in Europe?|
35 points by DarkShikari on Apr 11, 2011 | hide | past | web | favorite | 18 comments |
|I just paid out the first quarter's profit shares for my startup, x264 LLC (commercial licensing arm of the x264 open source project). However, the majority of the major developers for the project are in Europe, so the best way to pay them seems a bit less obvious.|
This time I did:
1. US developers: Mail a check.
2. UK developers: Mail a check (their banks are apparently fine with this).
3. Sweden/Germany/Austria/France: Wire transfer in native currency.
4. Russia: Wire transfer in US dollars to a special account set up by the developer.
The problem with this is that the wire transfer prices charged by the bank (Bank of America) are exorbitant: not only is it $35 per transfer, but they slash off another 5% in the form of exchange rate gouging. This latter will probably become a significant cost (~1-2% of total income) as income rises.
Is there any better option for international payments in the ~$500-$25000 range?
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