I have a consulting company and want to start accepting payments from European clients. The charges will usually be around 6,000 dollars. I feel like there should be a better way instead of doing a wire transfer and having my clients and myself both paying transferring fee. Does anyone know an alternative way of handling this?
You can always incorporate locally and open a local bank account to take euros. Once the money is collected in your local european company (and paid its taxes locally) you can write yourself cheques pay employees or whatever you want from that account. You can set up direct deposits to your homebase account or simply just keep the money abroad for expansion later into that field.
As for the amounts I believe international wire fees are in the range of $20.00 or so. So if you do end up having to wire money just make sure the amounts are large enough that the $20.00 isn't over taking your profit margin. E.G. $20/$100 is 20% $20/$10,000 is 0.2%.
If you can't setup foreign accounts then I suggest a minimum purchase amounts to again lesson the transfer fee's