Taking a look at my clients in Freeagent I have about 50% that are UK based and the other 50% are based in the rest of Europe and the US.
When clients pay me, they send money to my GBP bank account. For my international clients this usually involves a charge either to them or me and sometimes a questionable exchange rate. This really sucks for me and my clients.
When Riot was around, we had attempted so many times to setup a US bank account but it was so much hassle and most of the time, the banks just said no. That was a long time ago and thankfully things have come a long way. I say things, but really I just mean one thing; TransferWise.
TransferWise has a product called Borderless Accounts. It’s amazing. Once you’ve signed up and verified you can just make yourself new EUR, GBP and USD bank accounts (I believe more are coming). Each account comes with all the necessary details to transfer money to.
With these borderless accounts there is no charge for the client to send me money. There is only a small fee for taking money out (price list).
How I’ve got this to work inside Freeagent is to add each borderless account as a bank account.
Now when I create a new invoice, I just select which accounts details I want to appear on the invoice. Magic!