EAS invoices you monthly for EAS fees and VAT due to the EU countries. Since VAT is due in EUR, we have to receive the payment in EUR.
EAS provides a variety of options to settle the invoices, including credit card payments, wire transfers, SEPA payments and direct debit. Options available to a particular merchant depend on the merchant's country and existing arrangements we have with payment providers.
Credit card payments
You can make a credit card payment using the payment link in our invoice email, or you can input your credit card details for automatic payments.
How to provide your card details: https://help.easproject.com/hc/en-gb/articles/5024105632415-How-to-manage-payments-methods-in-EAS-Dashboard
Please note that a card processing fee (3%) will be collected by the bank on top of the invoice amount. This ensures that the VAT amount, which we are required to remit in full to the EU tax authorities, is correctly covered.
If the total is less than 150 EUR, it makes sense to use a credit card to settle EAS invoices.
If you have a large amount of VAT, we recommend considering other payment options.
Direct Debit
Direct debit is currently available only to our UK customers and is in GBP only. Direct debit is available to customers of most UK banks and money institutions.
Follow these instructions to set up direct debit in the UK: https://help.easproject.com/hc/en-gb/articles/5088781303071-Using-Direct-Debit-in-the-UK-for-paying-EAS-invoices
Bank transfer / wire transfer
Making a bank transfer is easy, but not always the most cost-efficient way to settle the invoice. It is usually rather expensive to make bank transfers from your national currency accounts outside of Europe. Always check the costs with your bank before making cross-border wire transfers. VAT must be paid in full without deducting such charges.
If you make a bank transfer, always use the option OUR for charges. Some banks apply additional charges.
SEPA payment
SEPA (Single Euro Payments Area) payments allow fast and cost-effective transfers of money in EUR in 36 countries, including the UK and Switzerland. The cost of a transfer varies between 0.2 and 0.5 EUR per transfer.
Unfortunately, SEPA payments are not always available to all customers in the UK and Switzerland. Availability depends on bank conditions and regulations. If you are not in an EU country and/or are outside the eurozone, always check with your bank whether you can make a SEPA payment. If it is not specifically requested and allowed, you may end up making an expensive bank transfer.
Making payment via a money institution or an online bank
Another inexpensive payment option is to have an online account with a payment provider or online bank such as Airwallex, Wise, etc.
In most cases you can open a multi-currency account with these institutions for free, and you can transfer your national currency there as if the transfer is domestic. From these institutions you can make very cost-efficient payments to Europe. The cost of a payment is usually between 0.2 and 0.5 EUR.
Availability of accounts with such institutions varies from country to country.
You can also use multi-currency accounts with these institutions to make your UK VAT payments in GBP.
PayPal
PayPal is also an option, but it is a rather expensive way of making a payment to EAS. We have to add a 6% fee, which is what PayPal charges, to the original invoice amount.
Contact us at invoice@easproject.com if you want to have a PayPal invoice.