Re: [tlug] Receiving money internationally

[Joe Larabell <joe@example.com>]

Howdy,

I've been using Wise (formerly known as TransferWise) for quite a while now and I know they're active in the US and UK because I have balances with them in USD and GBP for payments in those currencies. If you have an account with them, they can even supply bank transfer details that work in the remote country so the transfer would look like a local transfer for your client. Their exchange rates are pretty good and the fees are low. You can also maintain a balance with them in any of the currencies they deal with, but... as a Japanese resident, the Japanese government limits the total amount you can keep in their system (all currencies) to around $10,000 (in JPY equivalent). But unless you're being paid handsomely, that shouldn't be a problem ;-).

What they do is keep their own balances in each country and just leave the other guy's money in the original currency and send you some of their yen instead... and I guess over time the transfers in both directions mostly balance out. The UI is pretty good, too.

On Mon, Aug 29, 2022 at 5:35 PM Stephen J. Turnbull <stephen@example.com> wrote:

Hi, all

I've got a consulting gig with a small multinational that has offices
in the US and the UK (at least, but not in Japan).  I've negotiated
compensation in yen (keeps the wife happy, no exchange rate risk), but
haven't a good idea how to accept payment.  I was assuming PayPal, but
it looks like they're going to make things really difficult on the
KYC/AML front when they update the ToC in about a month.

Anybody have experience/suggestions in this kind of situation?  My
direct superior is in the US, and so is the client, so I'm not sure if
payment out of the UK is feasible.  But if that makes sense I'll
explore it with them, they've been pretty easy to work with.

Regards,
Steve

--

Joe Larabell (joe@example.com)

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