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Paying a deposit in the US who don't accept credit cards

Paying a deposit in the US who don't accept credit cards

Old Nov 1st, 2007, 06:06 AM
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Paying a deposit in the US who don't accept credit cards

Slightly off topic and I think I'm posting this on the correct board as hopefully some Europeans have had experience of this.

I need to pay a deposit in the US to someone who doesn't accept credit cards. I don't have a US bank account and so am wondering what the most secure and cheapest of way doing this might be.

Anyone done this?

Diz01
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Old Nov 1st, 2007, 06:12 AM
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Forgot to say - I'm in the UK!
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Old Nov 1st, 2007, 06:15 AM
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I came across that problem in the reverse with a B&B in France. I just explained that wiring money was much too expensive and they waived my need for a deposit. You could explain your situation and the place might come up with some workable suggestions. Good luck, Deborah
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Old Nov 1st, 2007, 06:36 AM
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If they don't waive the deposit you could ask if they have a PayPal account.
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Old Nov 1st, 2007, 07:02 AM
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I have encountered this frequently in the US with vacation rental properties. (beach house, lake cabin, etc). The only thing they would accept is a check in $US. Not credit card, not paypal.

The deposit I've been required to put down is 50% ~6mo in advance, and there is no way they would waive the deposit requirement.

Being a US resident I was able to send a $US check from my bank account.

Does your UK bank suggest a way to send a bank draft in $US. You could also do a wire transfer, but those have sending and receiving fees.
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Old Nov 1st, 2007, 07:27 AM
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You could try this site:

http://www.xe.com/fx/
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Old Nov 1st, 2007, 07:31 AM
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xe.com (or more specifically xetrade.com) is also a good idea. I forgot about that one.

Rates are definitely the cheapest, and they can also send a bank draft to your recipient. The only downside is the lengthly and involved validation process. You will need to submit copies of multiple forms of ID, and they'll run some kind of check.

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Old Nov 1st, 2007, 07:39 AM
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How important is it that you use this particular vendor, Diz01? Have you inquired as to whether or not they will make an exception?

If you tell us more about the "product" we might actually be able to suggest an acceptable alternative which DOES accept credit cards, etc.
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Old Nov 1st, 2007, 07:39 AM
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Bank draft or Western Union would be possibilities
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Old Nov 1st, 2007, 07:40 AM
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Yes, but I believe the bank draft has to be in the currency of the receiver and as others have pointed out, wire transfers can get expensive.
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Old Nov 1st, 2007, 08:26 AM
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Would the American accept travelers checks? See what it would cost you to buy dollar TCs and compare against the fees for wire or draft.
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Old Nov 1st, 2007, 08:39 AM
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You know, we're living in a strange world. If payments are involved, everyone thinks the electronic direction. Nobody seems to simply think of money as money - cash, that is. The best and easiest solution by far, provided that you trust the receiver, is to send cash in a heavy envelope. I'm always and exclusively using that method for international payments, it's cheap, quicker than transatlantic bank wires, and nothing is more reliable than the good old postal service.
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Old Nov 1st, 2007, 08:44 AM
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I'd also look into the travelers checks in USD option, and see what that would cost you in the UK, and if it's cheaper. I know they have Travelex there.

Unlike Europe, in the US, it is easy to deposit TCs in USD in your bank account with no charge. They are pretty easy to use in the US without charge at lots of places, like large stores -- as long as they are in USD.
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Old Nov 1st, 2007, 08:45 AM
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Maybe things have changed, but I had a friend who worked in the central post office in New York thirty years ago who said cash was very likely to disappear if you sent it in the mail. That has always made me hesitate to send cash through the mail.
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Old Nov 1st, 2007, 08:54 AM
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I too use the cash in envelope approach - have not had a problem. Having said that I do not adopt the equivalent of the "baby on Board" sign "Cash in envelope"
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Old Nov 1st, 2007, 09:18 AM
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Hi Diz,

You might ask the landlord to hold a check in GBP for the amount plus about 10 GBP bank fees and then pay the required amount in USD on arrival.

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Old Nov 1st, 2007, 09:49 AM
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I've paid hotel deposits in Italy via IBAN transfer - don't see why that wouldn't work in the US too. My bank charges £9 and can arrange it over the phone. You just need to get the payee's IBAN (up to 34 chars) and BIC (up to 11 chars). The bank can arrange payment so it's the correct amount in the foreign currency.
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Old Nov 1st, 2007, 09:55 AM
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Thanks for all the helpful suggestions.

Paypal proved to be the answer.
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Old Nov 1st, 2007, 01:03 PM
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Not to continue this discussion (the OP has found the apt solution, and that's what matters), but just for Caroline's and everybody else's information: the actually is a reason why IBAN wires don't work in the US, and a very simple one to boot. There is simply no IBAN in the US. Only 45 countries are so far taking part in the IBAN system, and the US of A is not among them. It's essentially a European Union system, with a few countries participating outside the EU.
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Old Nov 2nd, 2007, 02:21 AM
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Oh, thanks Franco, I assumed everyone used it now. It does make life a lot simpler.
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