Cater Allan account with WorldPay

[J2012]

Why, if you are based in the Uk, are Worldpay paying you in $$ ??

You can choose remmittance currency, unlike with PayPal. But if you remit in dollars, they charge a fee (I think it is £10) for transfer plus your bank will charge about £7 for each incoming transfer into the dollars account. It would still make sense if you set the limit for Worldpay transfer above at least $3-5K, for smaller amounts it is simply not worth it considering you are already paying receiving charges for WorldPay. Of course getting dollars makes sense if your are going via FX exchanger and need Sterling or need to spend dollars.

When WorldPay does the conversion, they will use bad exchange rate (though probably better than PayPal) and only charge pennies for remittance with is also free for incoming into your account.

I have actually looked at Co-op and they seem to be very good for dollars charging nothing for incoming up to £100 equivalent and £6 above £100. They also have low fees for payments in dollars (and euro), I think £10-15, instead of typical £25-30, but from what I have read Co-op is a disaster for online banking.

[TestMangler]

I contacted them via e-mail and they asked for details about the nature of my business. This probably means that they will sign the form if it is worth the trouble.

In the meantime, WorldPay informad me that they will set up the account without the compliance document, based on bank statement. I will still consider Cater Allan as they seem to be better for remittance in USD.

Why, if you are based in the Uk, are Worldpay paying you in $$ ??

[J2012]

I contacted them via e-mail and they asked for details about the nature of my business. This probably means that they will sign the form if it is worth the trouble.

In the meantime, WorldPay informad me that they will set up the account without the compliance document, based on bank statement. I will still consider Cater Allan as they seem to be better for remittance in USD.

[TestMangler]

I am setting up Worldpay to receive payments through my website. To get started WorldPay requires that the bank signs a "compliance document". Unfortunately, HSBC informed me today that they no longer provide this service for theor clients. Ashame, I have to leave HSBC to be able to use WorldPay!

But may not be so bad, as Cater Allan actually offers accounts in USD and EUR, which can end up being more cost effective. But I imagine that Cater Allan would not sign this compliance document either as it is to confirm client's signature and identity.

Anyone had experience with CA and WorldPay?

I have, but it's from back in 2001 so it may have changed. I don't remember having to do that to be honest, but happily used Worldpay with a Cater Allen business account for about five years.

Edit: of course, Cater Allen was Robert Fleming & Co at that time.....

[davetza]

I am setting up Worldpay to receive payments through my website. To get started WorldPay requires that the bank signs a "compliance document". Unfortunately, HSBC informed me today that they no longer provide this service for theor clients. Ashame, I have to leave HSBC to be able to use WorldPay!

But may not be so bad, as Cater Allan actually offers accounts in USD and EUR, which can end up being more cost effective. But I imagine that Cater Allan would not sign this compliance document either as it is to confirm client's signature and identity.

Anyone had experience with CA and WorldPay?

Why don't you ask them yourself 0800 092 3300

[J2012]

I am setting up Worldpay to receive payments through my website. To get started WorldPay requires that the bank signs a "compliance document". Unfortunately, HSBC informed me today that they no longer provide this service for theor clients. Ashame, I have to leave HSBC to be able to use WorldPay!

But may not be so bad, as Cater Allan actually offers accounts in USD and EUR, which can end up being more cost effective. But I imagine that Cater Allan would not sign this compliance document either as it is to confirm client's signature and identity.

Anyone had experience with CA and WorldPay?