Has Anybody or is anybody using AirTM as their preferred payment method? Thread poster: Yasutomo Kanazawa
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I have a potential client who wishes to pay either via Paypal or AirTM, but is there somebody who is familiar with AirTM?
I already use Paypal and I know how it works, but I'm not sure how AirTM works although I accessed their website https://www.airtm.com/en/ and tried to find out more about this service.
My questions are:
1) How much do they charge when receiving/sending your m... See more I have a potential client who wishes to pay either via Paypal or AirTM, but is there somebody who is familiar with AirTM?
I already use Paypal and I know how it works, but I'm not sure how AirTM works although I accessed their website https://www.airtm.com/en/ and tried to find out more about this service.
My questions are:
1) How much do they charge when receiving/sending your money?
2) Can I use AirTM on my PC?
The reason I'm asking is because there is a picture of a smartphone in the "Home" section on their website saying "Create an Account", so I'm assuming that I must use a smartphone to access my AirTM account if I create one.
Thanks in advance for your input. ▲ Collapse
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Never heard of it. All my non-EU clients pay my invoices through Wise or TransferMate, in both cases payment goes directly to my bank account and I have no charges to pay.
| | | | Yasutomo Kanazawa 
Japan
Local time: 18:59
Member (2005)
English to Japanese
+ ...
TOPIC STARTER | It's my first time too | Nov 18, 2023 |
Maria Teresa Borges de Almeida wrote:
Never heard of it. All my non-EU clients pay my invoices through Wise or TransferMate, in both cases payment goes directly to my bank account and I have no charges to pay.
Yes, it's also my first time to hear of this payment system.
This potential client is in the US and they want to pay either via Paypal or AirTM.
I know that if I choose Paypal, it would be a lot easier since I've been using it for decades, with the exception of exorbitant amount of handling charges and lousy conversion rates.
I've heard before that sending money through bank transfer in the US costs more than doing it from the EU, so my impression is that they want to avoid expensive bank transfers as much as possible and rely on Paypal or other payment methods which are cheaper.
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Yasutomo Kanazawa wrote: Maria Teresa Borges de Almeida wrote:
Never heard of it. All my non-EU clients pay my invoices through Wise or TransferMate, in both cases payment goes directly to my bank account and I have no charges to pay. Yes, it's also my first time to hear of this payment system. This potential client is in the US and they want to pay either via Paypal or AirTM. I know that if I choose Paypal, it would be a lot easier since I've been using it for decades, with the exception of exorbitant amount of handling charges and lousy conversion rates. I've heard before that sending money through bank transfer in the US costs more than doing it from the EU, so my impression is that they want to avoid expensive bank transfers as much as possible and rely on Paypal or other payment methods which are cheaper.
Bank transfers from the USA are very expensive. That's why USA clients prefer using other payment systems, but AFAIK Wise and TransferMate are cheaper and faster than PayPal...
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Samuel Murray
Netherlands
Local time: 11:59
Member (2006)
English to Afrikaans
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Maria Teresa Borges de Almeida wrote:
All my non-EU clients pay my invoices through Wise or TransferMate, in both cases payment goes directly to my bank account...
Do you mind explaining how to set up Wise so that payments go directly into your bank account? I recently tested Wise again with incoming payments, but the money ends up in my "Wise balance" and I have to manually withdraw/download the money to my bank account.
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I’ve done nothing, I don’t have a Wise or TransferMate account. Everything is done on my client’s side. My invoices say: “Payable within x days by bank transfer or through Wise or TransferMate into account below IBAN: PT 50 XXXXXXXXXXXXXXXXXXXXX.
| | | | Yasutomo Kanazawa
Japan
Local time: 18:59
Member (2005)
English to Japanese
+ ...
TOPIC STARTER
[Edited at 2023-11-19 16:02 GMT]
| | | | Samuel Murray
Netherlands
Local time: 11:59
Member (2006)
English to Afrikaans
+ ...
Yasutomo Kanazawa wrote:
How much do they charge when receiving/sending your money?
I don't know, but their help page on this topic does not inspire confidence.
Bits about their fees are scattered throughout their help pages. E.g. this page says they charge 2.5% fee for uploads via bank transfers, and this page says that they charge 1.7% for downloads to a bank account (though the page is US-specific and it's uncertain what the rate would be for other countries' banks). So, if it costs the client 2.5% to send you money (which the client may choose to deduct from the amount he's actually sending) and you will be paying an extra 1.7% to withdraw the money, the effective transaction fee would be 4.2%, which is not dissimilar to PayPal.
Two other pieces of information about Airtm: 1. They convert your money to USDC and then back again, so be sure to withdraw your money as soon as you can, in case the USDC cryptocurrency goes belly-up. 2. Airtm appears to be a peer-driven payment system, i.e. different "peers" in your local country may charge different transaction fees to process the transfer.
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Yasutomo Kanazawa
Japan
Local time: 18:59
Member (2005)
English to Japanese
+ ...
TOPIC STARTER
Samuel Murray wrote: Yasutomo Kanazawa wrote:
How much do they charge when receiving/sending your money? I don't know, but their help page on this topic does not inspire confidence. Bits about their fees are scattered throughout their help pages. E.g. this page says they charge 2.5% fee for uploads via bank transfers, and this page says that they charge 1.7% for downloads to a bank account (though the page is US-specific and it's uncertain what the rate would be for other countries' banks). So, if it costs the client 2.5% to send you money (which the client may choose to deduct from the amount he's actually sending) and you will be paying an extra 1.7% to withdraw the money, the effective transaction fee would be 4.2%, which is not dissimilar to PayPal. Two other pieces of information about Airtm: 1. They convert your money to USDC and then back again, so be sure to withdraw your money as soon as you can, in case the USDC cryptocurrency goes belly-up. 2. Airtm appears to be a peer-driven payment system, i.e. different "peers" in your local country may charge different transaction fees to process the transfer.
Thanks for the links, Samuel.
I've taken a quick look at the links you provided, and as far as I can see, AirTM deals mainly with European and American banks and there is no mention of Asian, especially Japanese banks. I get the feeling that if I select AirTM as my payment method, then my US client would send payment through AirTm, but there might be an intermediary bank involved between the client's AirTM account or bank account and mine which would rip off part of the payment.
I tried searching in the Proz forum before I made my initial post and found the following thread.
https://www.proz.com/forum/translation_in_argentina_la_traducción_en_argentina/322769-¿cómo_retirar_fondos_de_paypal_en_argentina.html#2857628
This was the only thread I found which mentioned AirTM, but the thread is mainly about Paypal, and there was one post by a person called Robert Tokuda who recommended using AirTM as another option. In his post, he mentions the advantages and disadvantages of using AirTM and the advantage is that the conversion rate is close to that of a bank, but the disadvantage is that it is very difficult to use who are not used to it, and when using it for the first time, it may be very confusing and that there are many tutorials uploaded on YouTube.
I must honestly say that I wouldn't want to go through all the hassle to get paid where I have the option to choose Paypal which I have been using for nearly two decades.
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