Not sure which payment method is the fastest, safest and the most cost-efficient? Read the guide to choose one that suits your needs!
CodesWholesale offers two ways of making payments. You can either add funds to your account balance and pay or make payments through the checkout. After adding a product to the cart and selecting your preferred payment option, you will land on the payment provider’s website.
If you decide to make purchases by adding funds to your account balance, the payment options available are as follows:
- Bank transfer
Yet if you choose to check out, take advantage of:
- PayPal Mass Pay
- Gate2Shop – Log in to your CodesWholesale account to check payment options available in your country.
This option is available to users who transfer money from their account balance account or choose to pay through the checkout. Importantly, if you send cross-border payments up to € 50k within the EU, banks located within the EU should charge you only tiny fees. For payments over € 50k, however, considerably higher charges or fees will apply.
Merchants who make both regular and infrequent purchases abroad can take advantage of TransferWise, a money transfer service that minimizes excessive bank fees resulting from foreign exchanges. By matching the user’s currency pair (e.g. USD – EUR) with the currency of their peers (EUR – USD), money doesn’t cross borders, thereby reducing fees to a minimum. For example, if you want to convert currency from dollars to euros, TransferWise will find a person in your country who wants to transfer money in the opposite direction, from euros to dollars.
As regards service fees, they vary depending on the amount transferred. Take dollars to euro payments, for example, where the fee is fixed at 1% with payments up to 5.000 USD, but if the amount is over 5.000 USD, the fee diminishes to 0.7% accordingly. The sender also receives a confirmation email as soon as the payment reaches the recipient.
When it comes to international payments, there’s no excluding PayPal from the list. Whether you pay through your account balance or choose to check out, PayPal is there. Also keep in mind that transaction fees will always be added to the amount due.
In a nutshell, PayPal transfers are instant and you can make payments with your credit card or bank account details.
Skrill, also known as Moneybookers, is offered to users who want to upload funds to their CodesWholesale account balance. The fee charged is always fixed and amounts to 2.9% regardless of the transferred sum. Skrill guarantees immediate money transfers of which both parties are notified by email.
In terms of international transfers, sending money in a currency different from that of your account means that conversion fees will apply – you’ll be notified about them prior to the transaction. Also keep in mind that once set the currency of your Skrill account cannot be changed. So if you want to add a new currency, a Skrill VIP account is required.
Gate2Shop ensures access to over 50 local and international payment methods such as credit and debit cards, eWallets, real-time bank transfers, cash payments and prepaid cards (the detailed list can be found here). Gate2Shop payment options are available to users who send payments through account balance or opt for checkout.
In short, Gate2Shop offers immediate money transfers with low-cost fees; however these vary across countries. Sign in to CodesWholesale to see all payment options available in your country.
PayPal Mass Pay
This option is available for users who proceed to the checkout page. The huge advantage of bulk payments is their instant processing and lack of fees imposed by Codeswholesale.
Reserved for verified Premier and Business account users, PayPal Mass Pay enables you to send bulk payments. To upgrade your account to Premier or Business, you’ll need to have your existing email address and bank account verified. Another requirement for Mass Pay is having sufficient funds in your PayPal account.
To cater for the growing interest in digital currency, we’ve added yet another payment method to the existing list. From now on, all fans of digital currency transactions have an opportunity to pay for their orders with bitcoins. Compared with other methods of moving money, bitcoins allow for sending instant payments across countries. Why not send Bitcoin payments now?
As a Codeswholesale user, you can take advantage of multiple payment methods to keep the exchange and transfer fees to a minimum. No matter where you business is located, you can find the most cost-efficient option from over 50 methods available. Simply sign in to CodesWholesale, choose the payment option you like, and… save your money!
About the author
- E-commerce owner and blogger. A trained accountant and an avid gamer. Healthy food aficionado.
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