Ask HN: How do you receive USD for work abroad without getting ripped off?

#1

Post by waterlooalex » Wed, Feb 18, 2015, 9:49 PM UTC

To those that work for a US company (but live elsewhere), how do you get paid, and do you manage to avoid horrible fees?

Re: Ask HN: How do you receive USD for work abroad without getting ripped off?

#2

Post by therealmarv » Wed, Feb 18, 2015, 9:55 PM UTC

You mean bank transfer fees?! You cannot avoid them unless you also have an US bank account which you won't get if you are not living in the US. Private money transfer is pretty cheap with well known services like e.g. Paypal (I'm guessing this is one of the main reasons Paypal exists, easy and cheap).

Re: Ask HN: How do you receive USD for work abroad without getting ripped off?

#3

Post by khronnuz » Wed, Feb 18, 2015, 9:57 PM UTC

I've used Paypal because it was very simple to setup, until I realised how much I was losing, then I setup a bank to bank international wire, which took some time because most account managers I have talked had no idea how to do. It still takes some fees, but a lot less compared to Paypal.

Re: Ask HN: How do you receive USD for work abroad without getting ripped off?

#4

Post by waterlooalex » Wed, Feb 18, 2015, 10:00 PM UTC

therealmarv wrote: post #2

You mean bank transfer fees?! You cannot avoid them unless you also have an US bank account which you won't get if you are not living in the US. Private money transfer is pretty cheap with well known services like e.g. Paypal (I'm guessing this is one of the main reasons Paypal exists, easy and cheap).

Yes, transfer fees etc. Also I found out my bank takes a cut on currency exchange!! Eg they take 2.5% vs the market rate. PayPal fees seem high.

Re: Ask HN: How do you receive USD for work abroad without getting ripped off?

#5

Post by [deleted] » Wed, Feb 18, 2015, 10:06 PM UTC

therealmarv wrote: post #2

You mean bank transfer fees?! You cannot avoid them unless you also have an US bank account which you won't get if you are not living in the US. Private money transfer is pretty cheap with well known services like e.g. Paypal (I'm guessing this is one of the main reasons Paypal exists, easy and cheap).

[deleted]

Re: Ask HN: How do you receive USD for work abroad without getting ripped off?

#6

Post by benologist » Wed, Feb 18, 2015, 10:07 PM UTC

therealmarv wrote: post #2

You mean bank transfer fees?! You cannot avoid them unless you also have an US bank account which you won't get if you are not living in the US. Private money transfer is pretty cheap with well known services like e.g. Paypal (I'm guessing this is one of the main reasons Paypal exists, easy and cheap).

Paypal's cheapness varies by country, here in Costa Rica they only work with one bank who charge 0.5% per transaction with a generous $11 minimum fee.

Re: Ask HN: How do you receive USD for work abroad without getting ripped off?

#7

Post by [deleted] » Wed, Feb 18, 2015, 10:08 PM UTC

[deleted]

Re: Ask HN: How do you receive USD for work abroad without getting ripped off?

#8

Post by waterlooalex » Wed, Feb 18, 2015, 10:19 PM UTC

benologist wrote: post #6

therealmarv wrote: post #2

You mean bank transfer fees?! You cannot avoid them unless you also have an US bank account which you won't get if you are not living in the US. Private money transfer is pretty cheap with well known services like e.g. Paypal (I'm guessing this is one of the main reasons Paypal exists, easy and cheap).

Paypal's cheapness varies by country, here in Costa Rica they only work with one bank who charge 0.5% per transaction with a generous $11 minimum fee.