Posted by forex at 9:55 AM
Read our previous post
1. Set up a PayPal account. If you primarily do business online, a PayPal account can help you accept multiple currencies and convert them to your home currency for easy transfer to your bank. Therefore, your customers pay in one currency and you get paid in another. Options include currencies from the dollar (U.S., Canada, Australia, New Zealand, Hong Kong and Singapore), the Euro and the pound to more exotic currencies, such as Philippine pesos and Taiwan New Dollars.
2. Talk to your bank. By setting up a merchant account with a major international bank such as HSBC or Chase, you increase your chances of being allowed to deposit checks in foreign currency on a regular basis. If you choose to accept foreign checks, make sure that you always request at least two forms of identification, as well as contact information, should there be any problem with the check later on.
3. Set up a credit card merchant-services account. By working with a company like Merchant Express, your customers can pay in their native currency using their credit card, but you will charge them (and thus be paid) in dollars, allowing you to transfer money to your account without paying heavy conversion fees.