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Q: Best way to pay Romanian freelances ( Answered,   1 Comment )
Subject: Best way to pay Romanian freelances
Category: Business and Money > Finance
Asked by: yikes-ga
List Price: $75.00
Posted: 04 Apr 2006 15:27 PDT
Expires: 04 May 2006 15:27 PDT
Question ID: 715474
I currently use some freelance software developer talent in Romania. I'm
looking for a way to pay them so they keep the largest possible
percentage of the fees they earn from me. Today I pay through Wire
Transfer to their parent company in Canada. I've also used
Rent-a-coder (RAC) but RAC takes a hefty percentage themselves. I've
thought about offshore bank accounts or some other scheme but can't
find the info I need.

Basically, my goal here is to legally pay these talented freelancers
using a mechanism that allows them to keep what they earn. I'm looking
for an overview of the issues at hand both in the US and Romania and
some solutions.

Request for Question Clarification by livioflores-ga on 04 Apr 2006 22:11 PDT
Can you tell us some idea about the amount of money we are talking
about?, this is important because some services have top limits and
Subject: Re: Best way to pay Romanian freelances
Answered By: leapinglizard-ga on 30 Apr 2006 19:27 PDT
Dear yikes,

The main problem with sending money to Romania is that due to local
banking regulations, infrastructure limitations, and anti-fraud measures,
many reputable online payment services do not have operations there. For
example, Xoom does not permit money transfers to Romania, and PayPal
does not offer accounts at all to Romanian residents.

Xoom: International Money Transfer Services

Paypal: Paypal Worldwide

Other electronic money-transfer services that promise worldwide
availability, such as iKobo and Moneybookers, permit cash withdrawal in
Romania only through the use of Visa-network ATMs. The limited presence
of such ATMs in Romania, and the likelihood that many of them do not
permit the withdrawal of large sums -- or the withdrawal of any cash at
all because they don't support Visa debit transactions -- means that in
practice, such services are of no use to intended recipients in Romania.

iKobo: Romania

Moneybookers: Supported local payment methods

Not even postal money orders are accepted in Romania, which is a shame
given the low cost of this option. These restrictions may ease as Romania
makes the gradual transition to a market economy and seeks to gain entry
into the European Union.

U.S. Postal Service: International Money Orders

For the time being, your most cost-effective option for rapid money
transfer appears to be Western Union. To make an international money
transfer in the amount of $1000, for example, using the Money in Minutes
service from the state of California to any location in Romania, Western
Union charges a fee of $68. This 6.8% transfer surcharge is about double
the fee charged by web services such as PayPal -- if PayPal did offer
money transfers to Romania -- but it is less than half as much as Rent
A Coder's 15% cut.

Your payee can pick up the money transfer at many Western Union agent
locations in every Romanian town, including post offices and the branches 
of major banks such as BRD Groupe Société and Piraeus Bank.

Western Union: Service Options

Western Union: Agent Locator Search Page

The main drawback of Western Union's consumer-level service, Money in
Minutes, is that security considerations initially limit you to transfers
of $1000 or $2000 every 30 days. If this is a deal-breaker for you, I
recommend that you look into Western Union's corporate service, called
Quick Cash. After installing the proprietary Quick Cash software on your
company PC, you will be able to make payments of up to $5000 at a time
to anyone who goes through Western Union's corporate-level identification
procedure by enrolling with their Commercial Service.

    If your business needs to move money fast, the Western Union®
    Quick Cash® service will provide your company with an easy and
    reliable tool. This convenient money transfer service lets you
    send single or multiple money transfers worldwide right from
    your office PC. Funds can be sent virtually anywhere to more
    than 100,000-plus Western Union Agent locations globally. Within
    minutes of a transaction, the recipient can pick up the cash
    payment in their local currency, where available, at the desired
    Agent location (subject to hours of operation of the receiving
    agent location).


    ? We supply Western Union Quick Cash software for easy
    installation on a PC right in your office.

    ? Using simple procedures, authorized personnel in your company
    send funds within minutes to any Western Union Agent location
    in the world.

    ? Funds can be picked up in cash by your designated payee. Each
    transaction carries a unique tracking number and your company
    will receive transaction activity reports on a regular basis.

Western Union: Global Payment Solutions: Quick Cash

It has been an interesting challenge to answer your question. If you
have any concerns about the accuracy of my research, please advise me
through a Clarification Request and allow me the opportunity to fully
meet your needs before you rate this answer.



Search strategy:

paypal romania

romania money transfer
Subject: Re: Best way to pay Romanian freelances
From: roxrox-ga on 04 Apr 2006 20:09 PDT
Is there any reason you can't jsut bank wire transfer to their
personal bank accounts? I wire transfer to France all the time.

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