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Old 09-28-2010
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Default Another way to accept/convert funds - Worldfirst.com

This company was actually recommended to me by a seller support agent for Fulfillment By Amazon. I had no need for it till now. And may be useful to some of you here to check out.

I want to note I have not yet used them , but spoke to them over the phone and so far all sounds good.

If you would like to accept funds in pound sterling, and or need a UK "bank account" but cannot open a UK account because you do not live there, you can use their services.

They assign you a pound sterling account, to which you can accept funds. You can let your money sit there as long as you like ( due to fees) and then withdraw as you wish - to a YOUR bank account in canada , usa, european countries , they do the conversion for you.

Paypal type model really.

This is useful to me as it provides me with a UK "bank account" to receive funds, and from there I can send the money where I want. Exchange rates are good too.

another card up the sleeve never hurts

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Old 09-28-2010
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Very interesting option to look into Jem.
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Haven't spoke to them but from their website, it seems they only take wire transfers?

Do they actually assign you an account with routing, etc info Jem?
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Old 09-28-2010
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it is done on the basis of a SWIFT tansfer code between the parties. Each party uses their unique SWIFT code for the funds transfer.
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Old 09-28-2010
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I am working this angle currently , and will post all my experiences along the way , the good the bad and the ugly , as I go along and will keep you all posted.

I have just received the application form from the service agent I spoke to earlier today. The info they ask for is pretty standard stuff

photo id, utility bill or bank account showing your name and fill out their form. They will then look at your submission and assign you an account. That is where i am in this right now ( just starting)

It seems easy enough , not like merchant accounts!

it is more for wire transfers yes, but if they join with amazon.co.uk, they likely have some sort of "plug in function" , but I will let you know this info when I get there.

I will have use for the amazon angle later, but currently I have a number of UK transactions this service is excellent for right now. It bypasses paypal, and does not have the paypal rediculous fees.

Worldfirst will not be the answer to all woes, but it seems at least so far to be one option, and a fast way to receive funds, and convert them at really good rates to whatever currency you wish, send the money wherever you want .


more deatils to come...

Last edited by JEM; 09-28-2010 at 11:55 PM.
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