Warranty reimbursement which method should i chose?

[cmcm789]

I have had repair work carried out on my Tamron lens under my 7 year extended MACK warranty. Mack have agreed to pay the costs of repair (approx. £136) using the following methods (extract from email):

"Mack Camera & Video Service can reimburse you in one of three ways: US Check, PayPal, or Wire Transfer. If you would like a check to be processed to your account, please provide the email for the account. If you would like a Wire Transfer to be processed please complete the wire transfer form attached. I would like to inform you that most receiving banks do charge transfer fees, in which Mack Camera & Video Service is not responsible"

I am not savvy with transferring funds internationally or the use of other currencies, so i would appreciate any advice on the best method to accept where i will lose the least in commision/ fees etc. I have a PayPal account.

Thanks
Colm

 

[Dave *]

You shouldn't lose anything if they pay via PayPal (except you will probably be paid at whatever rate PayPal do $-£ conversion).

 

[cmcm789]

You shouldn't lose anything if they pay via PayPal (except you will probably be paid at whatever rate PayPal do $-£ conversion).

Will i not lose out if i then withdraw the money to my bank account? I have seen people mention paying things as a "Gift" so as not to be charged. Do you know what this is?

 

[Dave *]

Will i not lose out if i then withdraw the money to my bank account? I have seen people mention paying things as a "Gift" so as not to be charged. Do you know what this is?

There isn't a charge for withdrawing to your bank any more, I've received a number of payments from companies and not being charged a percentage on the transfer either (unlike payments from eBay etc).

PayPal gift is an option a sender can use that has no charges for the recipient and is probably a similar transfer to what companies use to send no-fee payments.

 

[andrewc]

Each has their own fees.

Given the choice I would specify wire transfer or paypal, and just absorb the fees. With Paypal there is a % + £ fee, plus a currency conversion fee based on the exchange rate in use at the time. There are paypal calculators out there which may give you an idea of the fee. There is no fee to withdraw it to your personal bank account.

Ask your bank what the incoming wire transfer fee is.

Choose the one which results in the most dosh arriving in your account.

 

[Dave *]

Each has their own fees.

Given the choice I would specify wire transfer or paypal, and just absorb the fees. With Paypal there is a % + £ fee, plus a currency conversion fee based on the exchange rate in use at the time. There are paypal calculators out there which may give you an idea of the fee.

This is not necessarily true, as I've said, I've received payments from companies and Paypal don't charge a fee, no %tage fee, no £ fee and no currency conversion fee.

Company payments are treated differently compared to payments from eBay sales etc.

For example, a payment I received recently:

Notice, no fees taken, for the payment or the conversion.