So I’m working on a cruise ship 6 months at a time, I’m a British citizen. My employer will pay me in USD 
, sadly my current UK bank are going to rip me off with a fee each time and a poor exchange rate. So I need advise please on maybe an offshore account to pay my wages into and the transfer some when I’m back in UK, but still have the option to pay for things worldwide or find a bank that will charge me less of a fee to recieve, low fees using the card abroad. As I’ll be around Europe and America. Can anyone share some good advise.
Thanks
Shani
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Hi Shani,
Will your employer pay you from a US bank? If so, check out TransferWise Borderless, it’s exactly what you need.
They provide you with your own individual local US routing and account number (similar to sort and account number in the UK), charge very low fees for transfers, and offer the best exchange rates on the market. They will even issue you a debit card so you can spend directly from the account without moving the money to your bank account.
Hi,
Great to here back so soon. The company I work for won’t consider using any app, they just want my bank details and pay me. With bic and swift code. Now to use the wise transfer in guessing they would have to log on and pay me that way, sadly I can’t see payroll doing that. I’ve looked through your pages on monzo and n26, but sadly to be paid the company that pay me would have use the size app. The banks in the UK have made it very difficult to find out fees, unless I call them up. Example of bank exchange rate offered, so current rate 0.77 sterling. Now the bank will transfer it 1.32 so if I was to be paid 1500USD I would loose 200 by the time I get it. You seem really clued up so I’m asking for the best advise.
kind Regards
Shani Murrant
Shani, Thomas is saying that you should open a USD-compatible bank account yourself, and give those new bank details to your employer instead of your existing UK bank details. That will save you money.
The TransferWise Borderless account is free to open and has no monthly fee, so you may as well open one anyway even if you don’t end up using it.
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Yes I see that now, I’ve opened up the boarder less account in USD and as I’ve now been informed I will be wired my wages. I’ve sent my transfer account details and they seem to of been accepted. Wanted to thankyou both for explaining and giving me options. It’s been an eye opener and a real interest to learn and read up on.
kind Regards
Shani Murrant
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