Anyone working for a company outside your own country? Question about payment.

I am in Canada and I work as a contract copy editor for an American company. Currently I receive my pay by cheque, but that is frustratingly slow. My company has given me a form to fill out to receive cheque, electronic payment, and wire transfer. The catch is I would be charged $35 for each wire transfer.

So I called my local bank branch to ask about direct deposit and the lady said it's impossible for international payments, that I can only get wire transfers. So then, why would my company even offer this as an option? I am thinking the bank employee is wrong, but I am having trouble finding info on the web.

Can anyone help me out here? Is it possible to get a direct deposit payment internationally?

It most certainly is, all banks have a "swift" code that is used for quick international transfers, takes about 24 hrs.

Ive just quit my life as an expat after 6.5 yrs and have dealt with all forms of payments.

Have you considered opening an account in the US they can deposit into or possibly even western union. Although if your pay is high WU may cost a bomb but it will be instant

a reply to: IkNOwSTuff

Yeah the swift code/transfer is an option, but that's the one that costs $35. I would prefer not to pay if I can get away with it. I was surprised that a regular direct deposit would not work (apparently). I had not thought of an American account. I will look into that. Thanks

I know that $35 is not much in the big scheme of things, but my pay varies, so at times it would be a hefty fee.

I have a feeling the lady who answered the phone at my bank has no idea what she is talking about. I will talk to the manager tomorrow.

a reply to: InvisibleOwl

When in I was in one country I just kept my bank back home and used a debit card...or used a credit card that was linked with my bank online so I paid off the card through the internet. Those are 2 options.

Another is western union which will still charge you a decent fee...and with wire transfers just transfer a boat load if you can ...instead of doing several small transfers.

In other countries ive lived in everything works around cash which makes the credit card method about pointless. I don't really have a great answer for that one. Id imagine in Canada they don't have that problem.

a reply to: InvisibleOwl

I live in the US and worked for a company in Luxembourg. They used Choice Bank Limited. They just straight-up paid me on that card and I was able to use it like a normal debit. No significant fees, no hassle, no waiting.

I'm not sure why every international employer don't use them or something like them.

If you happen to be residing close to the border with the US get a post office box in the nearest city in the States and drive over on expected pay periods.

If not disregard this post :-)
Regards, Iwinder

Have them direct deposit to your U.S. bank account and bleed it out of a Canadian ATM.

Open up a Bank of America account they will do it for non residents.

They are awful, bad service and your basic US bank nightmare, but they also have a large number of banking partners and do not charge for international transfers between them.
Best option though is to find out who it is. Or go with a international bank in both your countries. Like HSBC.

a reply to: InvisibleOwl

Just finished a gig with a Peruvian Production company and they sent the transfer directly to my Credit union account.

I will never use a bank ever again! Credit Unions are the way to go imo.

Thanks all. Some good ideas here. I expect there to be some kind of fee, but $35 just because it's in another country (and a country they do tons of business with)? That's insane.

I doubt I could convince the company to do the Choice Bank thing, but I will take a look at either a credit union or HSBC. There is a branch not far from my place. BOA is on my list, but I hope I won't need to go with that option, or Western Union. I have sent money with WU and they gouge the consumer.

a reply to: InvisibleOwl

So because you don't understand international banking laws and international tax laws, a $35 (presumably USD) fee is insane?

a reply to: TycoonBarnaby

I suppose you could say that lol.

But my point is asking if there is a way to direct deposit from the US. Seems other posters say there is. I will be looking into it.

a reply to: InvisibleOwl

Are you still planning to (meaning obligated to) file US tax 'returns'?

a reply to: TycoonBarnaby

Why would I file a return in the US when I am in Canada? Yes, I will be filing a return here. My first post may not have been as clear as I thought. I am Canadian. I worked for the company when it was based here, was laid off when it was bought out, and I now work on a contract basis with the American parent company.

The fee is not a huge deal depending on the size of my cheque. But because I work as needed my pay can be as little as $100 and as much as $2000 a month. $35 on 100 kinda sucks. On 2000 I don't really mind as much. The exchange rate makes that up these days.

a reply to: InvisibleOwl

As you stated, you are a Canadian citizen. I can offer no insight on this matter.

I misunderstood your position in Canada being paid by a US company, as you being a US citizen living in Canada. Apologies.

a reply to: TycoonBarnaby

Haha, all good. You freaked me out though, and had me frantically checking if I was doing something wrong.

Bitcoin has solved this problem. You can transfer bitcoin in less than an hour, to anywhere in the world, with next to no fee.
Unfortunately, only some companies pay their employees in bitcoin, and there is still the issue of converting it into the currency odd your country.
I have faith in bitcoin and the blockchain as a revolutionary technology that empowers the user by eliminating the middle man. It has the ability to change our world for the better.

I am not certain as to the legality of international direct depositing, but your best bet, besides that, would be to open an account in the US, get your debit card, and just use it in Canada. This of course might be a hassle, having two bank accounts, because you might need to transfer funds often...I do not know if there is any option for transferring funds that would not get you charged something, considering you're dealing with two different banks as opposed to two different accounts at the same bank. Is there an American branch of the bank you use in Canada? I don't know if they would be connected like two branches in the same country however. I know that my uncle worked in Iraq, and while he was there I had to do his bank stuff for him sometimes, and I remember that he had his pay directly deposited into a US account, but that is all I know, lol.

WU fee's are not fixed and fluctuate daily.

I had a money transfer of $1000 just last week from Arizona to California. Cost $86 to do.

If checks were involved it would of cost more.