Hi! I don't have much knowledge about ForEx and economic trades and all. But can others also feel that while the peso value is improving, prices of goods remain high? For instance, if you check DA's Price Monitoring update between 2 November and 3 December: submitted by
2Nov - 180.00 for local red onion (sibuyas) 3Dec - 280.00 for local red onion (sibuyas)
Can anyone shed light on this matter?
Direct link: http://www.wsj.com/articles/bank-of-america-to-pay-180-million-to-settle-private-forex-lawsuit-1430340190
To bypass paywall: https://www.google.com/search?q=Bank+of+America+to+Pay+%24180+Million+to+Settle+Investors%E2%80%99+Forex+Lawsuit
tl;dr The big banks colluded and rigged the currency markets. JP Morgan agreed to pay $100 million, UBS $135m, now Bank of America $180m, Citigroup and Barclays will settle soon. BNP Paribas, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley and Royal Bank of Scotland are next. This is a private lawsuit
. They've already paid billions
to the US and UK governments for this shit last year.
The perverted part is Bank of America says "cost of settlement will be covered by existing reserves", which to me translates to: "Don't worry folks, we're already stolen so much that we've alotted some for when we get caught"
No this is not about bitcoin. It's about why we need bitcoin.
I’ve made a list of the the payment methods I’ve used to get paid, take bookings, and bill clients for freelance work, and the advantages and disadvantages of each both working in and outside of the US. I started out using PayPal and moved off shortly after they decided they would freeze funds without giving any reason, and hope this can help some of you find a better provider. Because clients have different preferences and/or restrictions based on where they’re based, I’ve used a mix of platforms to invoice clients and get paid.
Let me know if you’ve used a tool/platform not included here and I’ll add it to the list (preferably with Pros and Cons or restrictions to help others decide whether it’s a good fit for them). Also thinking of turning this into a Google Sheet if that would be helpful.
If you’re reading this, you already know what PayPal is.
That sums up PayPal’s competitive advantage: its name-recognition is unmatched in the English-speaking world, and as a result some clients prefer or insist on using PayPal. Cons:
Unfortunately, their initial near-monopoly on payments has led them to adopt practices that are freelancer-unfriendly at best.
- Cross border fees take their fees to ridiculous levels if you’re dealing with any significant amount of money. Even with “Friends and Family” payments you’re looking at 5%+ all in.
- PayPal has a well-deserved reputation for arbitrarily freezing and arguably stealing money from users. Beware of clients that insist on PayPal if you don’t already trust them, as many do so because they know PayPal very frequently allows clients to simply dispute the work and get all the money back, whether or not their claim has merit. They eventually paid me my money but a company that thinks it’s acceptable to freeze your funds for 180 days is something I’d be wary of. Nearly every payment service has some risk of freezing your money or otherwise interrupting your business, but some are much worse than others (cough PayPal cough). This seems like something that only happens to other people until it doesn’t, and I would strongly recommend against keeping your money in any payments service, as
Wise is a UK-based money transfer service that lets you easily transact across different currencies without paying the massive fees banks charge. Pros:
- Even after Wise raised their rates on forex, they’re still the most convenient foreign exchange service I’ve used for clients that pay in a foreign currency and are willing to pay via bank transfer.
- Name recognition varies but I find most of my clients outside the US (primarily in Europe) are familiar with Wise, and the bigger hurdle is getting some to be willing to use bank transfers rather than Wise specifically.
- Lets you easily set up bank accounts in your business’s name, which can make you seem more professional to clients.
- Doesn’t let you process credit card payments.
- Lacks built-in freelancing features like milestones, escrow, and scheduling. This means it’s up to you to manually invoice clients, create documentation, and handle these aspects of the billing process.
If you have a personal site already and any coding background, it’s relatively easy to integrate Stripe into your site. Pros:
- Convenient credit-card invoicing solution from a trusted brand, at least among more technical clients.
- Lets you do ACH invoices for clients in the US okay with paying by bank transfer, on which they charge 0.8% instead of the 3%+ for credit cards.
- Stripe integrates with other payment methods that can be useful if you have clients in countries like China that use AliPay.
- Few built-in freelancing tools or advantages over the freelance specific tools that integrate with Stripe.
- Contra charges no fees beyond what Stripe charges for credit card payments. That means saving nearly all of the 20%+ in fees that UpWork charges for exactly the same features. If you’re just taking payments from existing clients who are willing to pay everything upfront this might not matter as much, but for new clients it’s a life-saver.
- Specifically designed for freelancing, and lets you easily setup milestones, escrow etc. as well as allowing clients to book you for projects directly through your profile.
- If the client pays with a credit card, interchange fees are still charged by the issuing banks and card networks when a client pays you on Contra.
- Payout methods vary based on what Stripe offers in each country. For example, credit and debit card payouts are offered in the US/Canada, while other countries only have bank account payouts.
Zoho is an invoicing tool with most of the key features you’d want in standard freelance work arrangements. Pros:
- Zoho lets you use different payment gateways like PayPal, Stripe, but also lesser known options that are better suited to certain countries. I use Stripe to keep consistent records across Contra/Zoho/direct invoicing and have had no issues.
- Free for up to 5 clients, then $9-30/month depending on the number of clients you bill through Zoho.
- Not worth it if you don’t need the more advanced accounting features (which most freelancers frankly don’t unless you’re working with a team or have significant expenses to keep track of).
CashApp is a money transfer service that works if you’re based in the US or UK. They make it easy to request and get paid by clients who use them. I’ve used CashApp by a client’s request and had no issues with it. Pros:
- CashApp charges 3% on credit card payments (as does pretty much every payments service) but nothing if you use a debit card/bank account.
- The app is relatively bare bones and doesn’t have escrow/milestones etc. built in but is convenient if you’re dealing with a one-time payment on a project.
Venmo is a money transfer service similar to CashApp, with a similar fee structure and ease-of-use. Pros:
Strong name recognition and trust in the US. Cons:
Venmo is owned by PayPal so presumably carries the same risks of them freezing your money.
Like PayPal, they have been known to freeze accounts without providing any explanation. Unlike PayPal, they somehow charge even more in fees. I got off Freelancer the second my client asked to pay directly and had constant headaches using them.
Overall, I prefer Contra for new clients and projects billed in USD (0 fees + easy milestones/invoicing) and Wise (lowest forex rates of the major services) if the client is paying in a foreign currency and is willing to do a bank transfer. If you’re working with a team of freelancers and/or have more advanced accounting needs, Zoho is a nice alternative that has accounting features to simplify things and also has 0 fees for the first 5 clients.
I dont defend this douche guy, he deserve it for being an @sshole. submitted by submitted by
Tapi ada yang punya kronologi jelasnya dia sebenarnya ngapain sebagai affliator binomo? Gua cari di berita isinya di luar konteks dan isinya "diduga" dan ga jelasin kronologi urutannya sampe urusan pacarnya segala.
Ada yang bilang dia sebagai affliator meraup uang loss pemainnya. Gua ga ngerti soal app binomo tapi apa itu hasil loss bisa connect ke "kantong" dia? Apa dia jadi agen perantara ketiga macam judi bola?
Does binomo even legal? I mean its legal in India. Dan konsepnya nyambung ke forex kan?
Gua cuman pengen tahu aja ginian, bahkan telegram grup mayoritas kalangan "investor" begitu kan disangka tempat chat teroris dulu kan dan terus disuruh uninstall. I have trust issues because massive of propraganda we are facing rn.
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