#jobs-and-talent
Thread
Hi all, what are you using for paying overseas contractors? Currently using PayPal and covering fees which I know is probably the worst way to be doing this. I would love to learn about any sites that offer benefit packages as well for overseas contractors.
PayPal is the worst, in my opinion. We use several platforms for our contractors.
I have someone who sources roles for us in Nicaragua and El Salvador, $1.5-$2k per month, she takes $250 per month on top of that, and she handles everything. She makes it super easy.
Casey, we previously used it. Right now, we are using Deel. One advantage is less transfer fee, it can hold our contracts and we know that they are legal since they have to be verified with IDs.
Wise and Remitly are the post popular. The lowest transfer fees would technically be crypto stable coins.
Sourav, we used Veem before. The only downside of Veem is that it takes time like about 3-4 days, for the receiver to get their money.
We did the math and the simplest/ most reasonable was to use our payroll provider (gusto) for contractor payments. I can pay in local currency and fees aren't bad. Obvs this only works if you use gusto!
I use Wise to get paid and send out payments. To me itโs the best. I get a US bank acc inside wise, and pay no fees for receiving money, company pays no fees to send and it can be done from their software of choosing like gusto/bill.com
When you add USD as a currency, Wise gives you a bank acc number, so US clients can transfer with no fee - takes around 24hrs tho, but you pay no fee, just currency exchange fee.
My main currency is EUR ๐