What method do you use to get paid by your employer abroad? I’ve used wire transfers and PayPal, but come to realize there are lots of fees some more obvious than others.
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What method do you use to get paid by your employer abroad? I’ve used wire transfers and PayPal, but come to realize there are lots of fees some more obvious than others.
I might be misunderstanding this, but if a US company is trying to pay you, can’t they just pay you to a US account? Or are you Canadian?
If you are Canadian, you can open an account in the US. If you have TD bank for example, you can even transfer between your personal accounts in both countries for free and avoid wire transfer fees. Of course you’ll also have debit cards linked to each account.
If you always have employers in certain countries, you can always open local accounts in those countries as well (depending on the requirements to open an account).
I also offer my customers as many payment options as possible. Some common ways to pay are:
-Credit card (via bank merchant processing or Stripe, Square, etc)
-US bank transfer/ACH
-International bank transfer
-EEA bank transfer
Hope this helps!
Nobody mention bitcoin?
The biggest problem I’ve had is getting paid by clients in Brazil (my account is US-based). Brazil is extra-anal with allowing money to go overseas. Anyone have any experience receiving money from there?
Are most of your payments originating from the US? If so you could open a bank account there and get paid either via local transfer or cheque. Using a no-fx debit card you can then withdraw the money from an ATM in Canada. That way you pay virtually no fees.
I use Paypal and I found a simple solution to avoid most of the fees. I make friends with a lot of local people and I always find someone to exchange my Paypal credits to cash.
I currently receive in bitcoin and I’d suggest you the same. Basically, you could setup this for your needs. Both of you and your employer could pay/receive in bitcoin or fiat currency. Whatever the needs, you are probably going to find better fees, even if you wish to have an automatic currency exchange if you don’t want to feel any bitcoin volatility and just use its network for the transfer. Let me know if you want to know more about your options or companies that could help you with this.
How about Transferwise? It should work for USD to CAD, giving you a rate of ~1% over mid-market exchange rate (0.5% for most European countries, but from USD is a bit pricier). No other fees, and the transfers are quick and painless.
You can use my referral link for one free transfer up to 3000 GBP (meaning you get the exact mid-market exchange rate, no markup). It is: https://transferwise.com/u/ffda2
Can you open a bank account that has international branches and they can deposit to that in their respective country?
I use Payoneer. They charge 1% + an annual $30 fee. The currency exchange rate is 2% above middle market rate. They give you a debit Mastercard or you can transfer the money to your local bank account.
We’ve done direct deposit to their bank account for larger transactions. Our bank charges $30 for sending USD and $50 for sending CAD.
We’ve also sent checks in USD (not sure what the fee was on their end). Our particular bank (credit union) did not allow us to write checks in CAD.
They are in Halifax. Found them on Sortfolio.
Have you looked into using Stripe? Our designers (from Canada) bill us (in USA) using Harvest + Stripe. They bill us in Canadian Dollars and we pay the bill with a credit card that doesn’t charge foreign transaction fees.
https://stripe.com/docs/integrations (see invoicing)
You’ll have to double check all of that.
I’ve got a stripe account and integrated with it a couple of times. I’ve never heard of anyone using it to get paid for a job though
Losing 4.9% off my income is something I’d prefer to avoid.
2.9% ain’t too bad, but when I work for us companies they typically pay in USD and I’m not sure if they’d go for credit card payments.
Its cool that your designers are in canada. Do you know where in Canada they are? How did you find them?
I’m in Vancouver.
Could you give an example of a transaction you’re looking to perform (from which bank/country to which bank/country)?
I’m looking to get paid by a US company in another country into a local bank account. Right now I’m in Canada. So I’d an invoice for the work, and they want payment instructions.
How to learn a language without taking a formal class, while traveling in different countries?
What advice can you give me?
Hi guys, wonder if you can help. I'm from the UK, and my husband and I are looking to go across Europe this coming year.
What's the best solution you've found re having all your post sent to you? I've found a site online that will set up a street address in the UK for you and scan in post to your email address, just wondering if you've found any other ways?
We've set up paperless statements, which has helped but with things like mortgages, official docs etc - how have you got around it?
Thanks so much!
I’m an EU national IT specialist, recently decided to become a digital nomad. I just left my permanent job in Germany and opened a UK based LTD (for a better taxation) to start a new career as remote working IT contractor. I also want to become a UK resident and pay personal income tax there BUT I don’t want to rent/buy a place because I have no interest in physically living in the UK, as a nomad I will be traveling abroad 100% of the time.
So I just need a UK address where I’m registered as a resident and could receive mail, but I would never actually be there. I could rent a place and keep it empty but that would be a total waste of money.
How do I find somebody who could give me an official residence at his/her address and keep my name on the door? I’m ok with paying a reasonable monthly fee for this “service” (but not as high as a rent), and give assurance in whatever form that I will never pretend to physically live there. I have no close friends in the UK to ask for this favor, and trying to propose this to a random landlord would be just weird since they are not familiar with the needs of a digital nomad.
Maybe you guys can suggest me somebody who understand the situation and want to make some extra cash every month to pay the bills? I’m ready to meet in person, provide full proof of identity or any other document, and to make a written agreement that gives the landlord the freedom to cancel this “situation” at any time.
This is NOT for tax evasion, it’s the opposite! I WANT to pay full tax as UK resident, I just don’t want to waste money on a rent which I will literally never use.
I would be very grateful for any advice!
Normally, when I go abroad for a longer period of time, I try to take as much medication with me from my home country as I can for that period. Which so far has worked well for me.
But if I’m going to be a full-time nomad that won’t work anymore. Mainly because I’ll then unregister from my country. Which has some downsides like not being able to have my current health insurance anymore. Other health insurance companies won’t cover existing conditions, so I’ll have to buy my medication “over the counter”.
But since I need some medication which in The Netherlands (and I assume other countries) is only available on a doctors prescription. I was curious how people here arrange that (if there are any in the same boat as me).
The main medication I think would be hardest for me (and most expensive) to get is Epoetin-Alpha (Aranesp) injections.
Since there’s not really a ‘world wide standarized’ doctor prescription form, how do you get the medication abroad? Do you have a checkup there again at a local clinic before you can get the medication? (That would probably add to the cost too).
Daily/hourly pass needed.
Can’t work in normal café because having client’s laptop for security reasons, can’t use open networks. Working for R&D. Also laptop is so huge it doesn’t fit normal cafe environment because it’s far from discreet.
I was wondering what systems/apps etc people use for tracking their living expenses? I try to keep records but find that some months I prepay for a lot of future expenses (eg. Airbnb, flights etc) while other months I spend little because everything has already been made.
I guess what I need to know is my actual spending in a month, regardless of when I actually spent the money but also the cash flow for each month.
I have been preparing tax returns for US citizens abroad since 2012. I can answer any question in US tax with an international flavor. I operate 1040abroad.com and I have maintained a blog at taxsamurai.com
I look forward to answering all your questions. And if you are in Ho Chi Minh City in December, let’s meet !!!
I am soon to find out one way or another as I will leave my residency to become a nomad myself. I have not found a good solution for Bali or Asian countries on the internet.
I read our existing Nomadlist posts under Money tag. Money handling and charges around accessing it seem to be a big issue for nomads, soon my issue. As a post I read said, accessing money for a Nomad can be harder than making money. I am more worried about accessing money than having some.
I’ll use Transferwise Borderless account to keep my day to day living money. I am opening a Pte Ltd corporate, that only goes for business-related expenses.
My Canadian credit card will charge me an arm and a leg in fees and currency conversion for me to get Indonesian Rupiah in Bali from Canadian dollar account. Then at some point, my credit card will complain I am not in Canad anymore.
Not knowing better, I’ll try that. If that works good and still live me short on how to go for smaller and random daily expenses.
Thanks for your help!
Enjoy your Nomad living!!
I’m a Swiss Citizen but full time traveler (living a few month there and there) and therefore don’t have a permanent residence/home anywhere in the world.
For this reason, I’m as well not registered in Switzerland and therefore don’t have medical care since I would have to pay at least 200$ monthly for medical care which I won’t use since I’m not living there.
As a in Switzerland unregistered Swiss Citizen I don’t have medical care in Switzerland but, however based on Swiss Law I’m always allowed to return to Switzerland, register and then get medical coverage (f.e. in a medical emergency).
So now I was looking for both, an international health insurance with good coverage and an additional travel insurance for my trips. Unfortunately every insurance I check, I got asked for a permanent residence - which I don’t have and don’t want to. So I don’t know what to fill out and if I still can get insurance without having a permanent residence.
I was wondering if there are any nomads here with a similar situation like me and (not registered anywhere and without a permanent residence)? If so, what health insurance, travel insurance you have and where?
PS. As well I’m not sure if it is kind of illegal not having a permanent residence anywhere plus where do I have to pay taxes?
Would be extremely grateful for any help on those matters - thanks so much!
I have a mail management service in the UK which all my mail gets sent to. This works fine 90% of the time and most can be dealt with digitally.
The other 10%, I need the mail sent on to me, which they do offer as a service. However, where I struggle is giving them an address to send it to in the Philippines, namely Manila.
I’ve used DHL for really important stuff, like bank cards, but it would be nice to have an address where I can forward certain mail. Anyone been able to set something up like this in the Philippines? Would a virtual office allow me to receive mail?
Thanks in advance
According to you what is the best way to send and receive money abroad beside paypal?
What are the fees?
What are the pros and cons?
Starting January 2016 I’m going to be starting a year as a Digital Nomad.
The last 5 years I’ve never worked with less than 2 monitors in front of me.
Sure, I’ve done some café and hotel-room work. But all my biggest project has all been done in front of a stationary setup.
I do webdesign and development and have created a working habbit with several monitors on a large desk. Funny enough this is my biggest concern getting closer to January.
How do i teach myself to work from a 15" screen?
Do you find working from a 15" screen enough or do you have some kind of magical folding screen in your backpack?
If you have any ideas for me keeping a dual-monitor setup (The laptop being the first monitor) I’m all ears!
Regards! And thank you for this delightful Forum!
Hey guys, i’m a Canadian resident. I have a corporation registered in Canada, and all of my income flows through this account and eventually into my personal account. I’m considering either opening a second Canadian account or an offshore bank account for the purpose of travel. My goal is not to change my business structure or avoid taxes, but simply to make it easier to make purchase worldwide.
I’m planning to do some travel in Asia and eventually South America. I know that in many countries, fraud can be a problem. Not only will I have to fight with my back to keep my account from being locked (they tend to be cautious when it comes accessing your account internationally) but i’m also concerned about having my card duplicated and used illegally.
What i’m looking for is some kind of bank account or prepaid card I can use to travel with. The idea is that I would transfer money to the account online, then withdraw the balance in cash to pay for my expenses. Because there will never be a balance on the card, I won’t have to worry about fraud. I’d also like to see if there is a way that I could reduce the fees I pay on currency exchanges or withdrawing in a foreign country.
Anybody have any suggestions?
Right now it’s only me who works on this and I project a modest user base in the beginning with perhaps a few hundred dollars of revenues that I would like to expand ideally. I’m looking at services like Stripe which has an option for individuals without the need for incorporation.
Meanwhile I’d like to reach to a point where I can hire some people to develop with me and run operations if there’s more steady cash flow coming in. Fundraising is also of course an option on the table. I don’t foresee a lot of potential for legal liabilities with this project but I’d like to be personally protected. I’d Hence I think incorporation is inevitable down the road.
I’m not sure if I should incorporate as early as possible, since there is some costs associated with this. But if I were to do this, with US status, I am wondering what should I be looking for to ensure that I can run this well in the long run. If any nomads have had experience with the business side of a personal start-up project I’d love to hear your opinion and experiences.
What’s the latest on how to avoid ATM/bank/foreign transaction fees? How do you keep track of money spent when you’re never quite sure of the exact exchange rate? I normally use YNAB to keep on top of my budget here at home, but I’m dreading keeping tabs on all the minute foreign transaction adjustments abroad…
I’m looking at this to check out some of the banking options: http://thepointsguy.com/2014/02/the-top-11-checking-accounts-for-avoiding-foreign-atm-fees/
Have you used any of these?
I recently opened a Charles Schwab checking account because I’m sick of paying ATM fees abroad (been about 5 years now so it adds up). I did this online while I was in India. Everything went off fine opening the account online until a week or so later when I received a letter saying my account needed to be verified. No problem I thought, call the people up and answer a few questions. Wrong! Since I opened my account from a non-US IP, my SSN had been flagged. This requires in person verification! There is no way around this now. I asked if I VPN’d with a US IP and tried to open a new account would it work. The CSR said no, my SSN is now flagged and the only way for me to get an account at Charles Schwab is to go branch and verify my identify in person.
So this is word of warning for any US people opening bank accounts while abroad. I suggest you VPN to get a US IP when opening any account. Probably with a less well known VPN as well.
Good luck out there!
I’m recovering from a stomach bug so caffeine and sugar, the two staples of late night development, are off the menu. As a result I’m finding it quite hard to get motivated!
Does anyone have some alternative techniques to wake my brain up and plug me in?
Currently I’m indulging in music but it’s not having quite the same effect as the killer combo of coffee/music/chocolate
I’m currently residing in Seoul, Korea working at a corporate office job. I’m having hard time finding a remote job or freelance job besides programming or article writing related jobs.
Are there options to do a remote job or freelance job for somewho who has no programming background?
I plan to be in India for the next 3 - 4 months and then move to Thailand to work.
I plan to keep my MacBook at home till then.
Can I trust the mail in Thailand with it?
Is it safer to take it with me to India? (I really prefer not to…)
To be more specific, by Thailand I mean Chiang Mai or Phuket
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