Being Paid in Dollars

Hubby been 'dollarised' by any chance ;)

Thanks for the link Anna. I'll get my 'battle bud' to get in touch with them for me.

Cheers mate. x
 
Ha, actually been recommending World First for the past year now , but glad I was using them as yes CRG now pay in dollars so hubby on the dollar train..
If you guys mention Whittaker & Co you will get free fees, and no set limit on the transfer amount, hope that will help you guys rather than being set up the normal World First way which will incur some charges....
 
World First actually pay around 4% more than your normal bank, they also check the exchange rate at various times of the day as apposed to a bank setting the rate first thing in the morning. The other good thing, is if the dollar becomes quite low, you can book this rate for a set number of months. Plus banks hide the charge for exchanging your money which can be up to £50. Hope this helps.. Anna
 
Hi everyone,

Toby here. I've probably been doing the transfers for many of you on the forum. I've now moved to Infinity International where I can still assist you with your salary transfers and save you money when transferring your salary back to GBP. All the usual applies such as no transfer fees etc and smaller margins than the "others"! :-)

You do not need a USD or other foreign currency account to have your salary transferred through us; your employer can send us your salary directly, which avoids further hassle and admin.

Any questions do call, email or Skype me.
Toby
 
I have seen these type of firms before, they wait for the worse FOREX of the week or month and date the transfer then whilst taking their cut.
 
HSBC Offshore dollar account. Comes with a visa debit card and online banking, no charges for using ATM's great rates always better than so called "agencies" and can't disappear with my money. Branches in almost every country. Had mine for 20 years, not a single complaint. My conversion rate to pounds as of 5 minutes ago was 0.59222
 
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SCT said:
HSBC Offshore dollar account. Comes with a visa debit card and online banking, no charges for using ATM's great rates always better than so called "agencies" and can't disappear with my money. Branches in almost every country. Had mine for 20 years, not a single complaint. My conversion rate to pounds as of 5 minutes ago was 0.59222
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Same here, been with Credit Suisse and only them, I still have old check books from my grandfather when he was with them back when they where known as Schweizerische Kreditanstalt, and never an issue with anything. Over a hundred years in only doing our banking with them.

Like HSBC any FOREX completed is live according to when it was logged in the system, it may take five or ten minutes after it is logged but it is live, and as long as the curency is just a number in the computer there is no fee.

HSBC also has the same gold purchase program as Credit Suisse, a flat rate charge (unless the ASAY is from that bank and not old than 25 years, the it is free) and the purchase is at 97% on spot up to 54 kilograms a year.
 
Ivan67 said:
I have seen these type of firms before, they wait for the worse FOREX of the week or month and date the transfer then whilst taking their cut.
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If we were to operate as above, I would be inundated with calls from clients asking why their salary is taking so long to be transferred to their bank account. Telling clients that we were waiting for the most ideal rate for the company would be the quickest way to go out of business.

If, like Ivan, you don't understand how this works, do get in touch for a more detailed discussion on how we can help you.
 
TobyInfinity said:
If we were to operate as above, I would be inundated with calls from clients asking why their salary is taking so long to be transferred to their bank account. Telling clients that we were waiting for the most ideal rate for the company would be the quickest way to go out of business.

If, like Ivan, you don't understand how this works, do get in touch for a more detailed discussion on how we can help you.
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Only speaking from experience, seen many of these firms get nailed on the chopping block.

But if anyone would like to know the truth and not get sold a crock of shit visit the Interpol website under their Financial Crime divison, or go to their archives for more detailed facts about this.


Have fun with your spam Toby, like you there is always an idiot.
 
TobyInfinity said:
If we were to operate as above, I would be inundated with calls from clients asking why their salary is taking so long to be transferred to their bank account. Telling clients that we were waiting for the most ideal rate for the company would be the quickest way to go out of business.

If, like Ivan, you don't understand how this works, do get in touch for a more detailed discussion on how we can help you.
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Au contraire mon frere. I understand exactly how it works and I suspect so does Ivan67. There is absolutely no need for a company like yours if someone has half a brain and the inclination to to set themselves up correctly. And before you start telling me I don't know what I'm talking about, I have had offshore currency accounts since the mid 90's, have been paid in several currencies, and always got the best rates and never been screwed by my bank which, unlike most small money transfer companies, is still in business under the same name and management it was when I opened the accounts. I have never felt the need to line the pockets of companies like yours when I can do it myself.

Having said all of the above, I concede that when someone is doing a "one off" and the setting up of a currency account is pointless and overkill, there is a need for money transfer agents, but that is the only scenario where I see a need.
 
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I'm looking at starting my first contract in 10 days and am trying to work out the best way to be paid. What is the general consensus of opinion, open a dollar account, use your normal UK current account or something like World First?

I've been looking at various dollar accounts and there seem to be quite a few requirements for minimum incomes, minimum balances and various maintenance fees. Simplest I have found is Barclays which is £7 a quarter if you have less than $2k balance but is otherwise free. No debit card though so you have to transfer to a sterling account to draw cash. Not ideal.
 
I have now been working in Iraq for nearly 2 weeks. I became a client of both Whittaker & Co and World First before I deployed and have to say they have both been helpful and efficient. I found the high street banks pretty useless to be honest and my own bank, Lloyds, weren't interested as I wasn't making enough money. I had a pay run at the end of September for my first week here so I have just checked what World First will pay me, compared to a money transfer through Lloyds, and it works out that World First will pay me £15 more. That comparison is against the Lloyds expat service which is supposed to be better than their normal exchange rate, effectively meaning I am £30 better off than the normal rate. These figures are for just 8 paid days so transferring a months salary should show even greater savings. Got to be happy with that!
 
Two known and normal banks have been named already, no point in wasting your time with a service provider when you could manage your own funds and decide how, when and where you want your money. You also establish a creditable banking history.
 
Ivan67 said:
Two known and normal banks have been named already, no point in wasting your time with a service provider when you could manage your own funds and decide how, when and where you want your money. You also establish a creditable banking history.
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Unfortunately Credit Suisse aren't on my High Street and HSBC had nothing to offer me. Their expat account wasn't available to me as it has a clause for new customers.

"To become a customer of HSBC Expat, the minimum Relationship Balance is £60,000 or currency equivalent".

Barclays could offer me a dollar account but I would have to transfer to a Barclays UK current account to draw from it. For me World First was the only real option, especially as I only had a week from contract offer to departure. I have opted to choose when my money is transferred rather than have them do it for me so I am keeping an eye on the current exchange rates.
 
Yellowduke said:
Unfortunately Credit Suisse aren't on my High Street and HSBC had nothing to offer me. Their expat account wasn't available to me as it has a clause for new customers.

"To become a customer of HSBC Expat, the minimum Relationship Balance is £60,000 or currency equivalent".

Barclays could offer me a dollar account but I would have to transfer to a Barclays UK current account to draw from it. For me World First was the only real option, especially as I only had a week from contract offer to departure. I have opted to choose when my money is transferred rather than have them do it for me so I am keeping an eye on the current exchange rates.
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Good on you for taking the route when to sell and when not to. I follow the dollar a great deal and in the past three months I have been checking about 30 times a day. I am just trying to get some kind of forecast as to when this will all be over and then make my choices. The USD just keeps climbing, by morning it will be up to 80 cents on the Euro.

I have heard many good things about HSBC, but I am not one to switch over. Our family has been with CS since before it was CS back in the 1800's, we have nearly everything tied to that bank.
 
TobyInfinity said:
If we were to operate as above, I would be inundated with calls from clients asking why their salary is taking so long to be transferred to their bank account. Telling clients that we were waiting for the most ideal rate for the company would be the quickest way to go out of business.

If, like Ivan, you don't understand how this works, do get in touch for a more detailed discussion on how we can help you.
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Hello Toby, I wonder if you would be so kind as to PM me when you have a moment, there several reasons as to why I would the services of someone like you. By the way, are you able to send payments via Western Union to pay salaries etc?
Thank you in advance.
 
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