Best / cheapest way to receive USD

[speedster]

I'm a non-US resident and need to find a way to receive a payment in USD. I have a fair number of EMI accounts, but they're all in Euro and don't seem to cater for receiving USD deposits. Does anyone know of a way to get a USD receiving account from one of the EMIs?

 

[JohnSeed]

When you receive the USD then you want to keep them in USD right?

 

[speedster]

I don't mind converting to EUR if that will help. I‍ do have a host of EUR accounts available.

 

[JohnSeed]

What EMI's have you setup right now?

 

[speedster]

Transferwise, paysera, epayments and N26 (which is technically a bank)

 

[JohnSeed]

You can easely open an AdvCash account and transfer the money from your current EMI's‌ to their USD account that works. Account holder need to be in the same name‍ as the receiver, that's why you only can use it as an exchange like service.⁠

 

[speedster]

I need to recieve the USD?

 

[ivan1911]

Transferwise borderless can receive USA , you get USD bank details with it. And you‍ can connect it to PayPal if that makes any difference

 

[speedster]

Unfortunately this isn't always true. Only some countries get USD bank details and mine is⁠ on the list that doesn't

 

[Clip]

Cyprus?

 

[speedster]

Unfortunately not. Would've enjoyed the island life

 

[JohnSeed]

So the key is to‍ figure out what countries can receive USD - My guess is that countries like Russia⁠ and countries in South America will get USD details.

Cyprus will be a good suggestion⁤ if you are able to setup an account there, it will require a complete office⁣ setup with a registered Cyprus corp. not cheap but possible.

 

[Clip]

Surprisingly they don't offer Borderless accounts for HK residents, I think it's because they have‌ a license here for money exchange but not store of value

 

[speedster]

That isn't very hard. Here is the list: https://transferwise.com/help/17/borderless-account/2810318/why-cant-i-get-usd-account-details

My current plan is to have the payer register on TransferWise and deposit the USD into⁣ their TW. They can then convert to EUR and pay to my EU account.

 

[JohnSeed]

great so you found the solution your self 🙂 Just setup a company in one of these⁠ countries and apply for an TW account there so you will be good to go⁤ 🙂

 

[speedster]

Setting up a company for this is complete overkill.⁠ I'd rather receive the funds into my own account and pay the associated charges and⁤ expensive exchange rate if I must. I was looking for an easy / cheap alternative.⁣

Anyway, I think having the payer do the conversion in TW might end up working⁢ best.

 

[JohnSeed]

Ahh, if this is just for fun and low volume it may be overkill as‌ you say I agree. Most people around here forget to tell about if this is‍ for large business or just for play fun biz.

 

[extremedox101]

last time i checked payoneer allowed it for non-us residents , but i'm not sure‌ about the current situation .

it sucks, every emi now want to make eur/gbp standard‍ . i have similar issue with TW.

 

[mikilala]

Payoneer is your best bet. It will cost you 1% of the total to receive‌ monies to EUR account (if you have EU account), 0.5% for incoming to US account‍ and 0.5% for conversions to EUR. If you are not having EU account, then you⁠ are almost out of luck. Then the only option is to take the Payoneer card⁤ in EUR denomination and go to Eurozone and withdraw money there. Also remember that limit⁣ is 10k to move across the border, without reporting it, even if you have 1⁢ euro on top of it, you may be in trouble.