EU based companies: what is your account and payments setup?
Curious to hear how businesses that are based in the EU and sell subscriptions in the US have setup their bank account and payments.
I was thinking about Transferwise Business + Stripe.
Transferwise Business would give me a US bank account number and it’s easy and cheap to convert to €.
The thing that I’m not sure about is if you can register with Stripe with an EU address and then provide a US account number without a US address and LLC.
Stripe will accept your Transferwise USD Bank account even though your business is registered in the EU.
Thanks!
Interested in this as well. I will need to figure this out for myself too:)
I think what is missing in your idea is handling of VAT.
Yep, tax is the next topic that I need to tackle :-)
You should use something that has local payment methods, eg iDeal or SOFORT. People don't really use creditcards here. Stripe only has a few of them and doesn't support all of them in their Checkout. Maybe use Braintree? There's tons of payment providers.
And don't forget VAT, usually you just add 21% included in the price. Just make sure you mention that it's included. Unless you're selling to businesses, then don't include VAT in the base price and add it during checkout.
I was actually wondering myself about the other way around. How do you show pricing to US customers online? Do you show sales taxes or not, or does it not apply for online (international) selling? I'm based in Europe and selling to the entire world so a bit confused about US customers.
Thanks for your reply. I think you've read my question the wrong way around. I know about iDeal etc, but I actually want to sell in the US :-). Regarding @Christilut's comment: if you have more insights into how to handle tax when selling subscriptions in the US via Stripe that would be appreciated!
Oh sorry haha, my bad
No worries :-). Any insights you have on how to handle tax invoicing in the US would be much appreciated!
I haven't got around to implementing my new payment system yet, but when I do I'll have to research it first. That's why I asked, I saw an opportunity ;)
Got it. If I get around to it I'll see if I can do a write-up here.