When you invoice for $1,000, but only see $960 in your bank account, you've just paid a 4% "Hidden Tax." For freelancers, currency exchange (Forex) fees can destroy your margins.
1. The "Mid-Market" Rate Trap
Most banks don't give you the rate you see on Google. They add a 2-3% markup. To fight this, use services like Wise that provide the "Real" rate and a transparent fee.
2. Invoicing Strategies
- The Surcharge: Add a 3% "International Processing Fee" to your invoice line items.
- The Buffer: Increase your base project rate by 5% to absorb the cost of doing business globally.
3. Contractual Protection
Your contract should state: "Client is responsible for all intermediary bank fees. Contractor shall receive the full Net amount listed on the invoice." Use our AI Scanner to verify this language.
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Frequently Asked Questions (FAQ)
Which currency should I bill in?
Bill in the currency that is most stable for you. For most, this is USD. Our Invoice Maker supports all major global currencies.
Can I bill in Crypto to avoid Forex fees?
Yes, but you must still account for the fiat value for tax purposes. Volatility can be even more expensive than bank fees.
How do I track these fees for taxes?
The difference between your invoice total and the amount received is a "Bank Charge" business expense. Track these to reduce your taxable income.