Trouble receiving your commissions in different currencies from different continents?

[HodgeyBoy]

I've long been a fan of the money transfer service offered by TransferWise.com and I've used it for years now to pay my mortgage, which is in Euros, and saved money by avoiding currency commissions when I use my wages which are in GBP.

Also, in the decade or so that I've been knocking around here, I've read many threads where perhaps Affiliates based in the US really struggle to receive their commissions from programmes based in the EU without having ridiculous fees applied or European affiliates struggling to get a USD account to receive commissions paid in dollars.

TransferWise have launched a solution this week that might prove really useful for any of you who still struggle with the issue outlined above.

It's called Borderless Account and it allows you to create one single online account but generate 'local' bank account details in a variety of formats to give to affiliate programmes so they can pay you.

• Working with a programme in Malta that pays in euros? Borderless Account gives you your own unique IBAN number.
• UK sportsbook wants to pay you in Sterling? You'll be able to give them a UK sort code and account number and receive your payment into the same Borderless Account.
• A LatAM lotto programme pays in USD and you need US routing number? No problem, you can get that too.

Different payment types and different currencies from different continents all paid into the same single Borderless account.

Then from there you make an online transfer to your old-school Bricks&Mortar bank and you go and do your shopping as normal.

There are no fees to receive payments into your borderless account. When you transfer your money to your bricks&mortar bank there is a small fee based on the transaction size but you also get a very decent currency exchange based on the wholesale rate.

This might not be for everyone but for those who still have headaches getting paid for their hard work this just might be the thing that they're looking for.

There's a FAQs page here if it's of interest to any of you.

Hope this helps

[Sherlock]

Does this account allow payments to/from Skrill/Neteller/Paypal/Bitcoin exchanges (where the bank account must be in the name of recipient)?

[MrBinaryAff]

That's great, I am currently losing quite a lot on commission with Wire Transfer in USD... Might give it a go

[Sherlock]

We do not provide our Services to businesses or support transactions which involve:

• bitcoin or other cryptocurrencies;
• binary options

[MrBinaryAff]

I don't know what you are on about, it's called affiliate marketing )

[Sherlock]

gl, explain it to banks and quasi-banks...

[renaldo.catania]

why don't you negotiate your commission, if it's CPA, in your currency straight away. I know bitcoin helps, but for my UK account, I'd rather have £.

[baldidiot]

That's awesome. I think I first found out about transferwise from your initial recommendation and have been using it for years for personal transfers/exchanges. Looking at the rate we get clobbered with from the bank/skrill I think this could save us a nice bit of cash.

Consider a beer owed!

[HodgeyBoy]

That's awesome. I think I first found out about transferwise from your initial recommendation and have been using it for years for personal transfers/exchanges.

Years? DAMMIT!...... I know I should have used my Refer-a-Friend link!

[baldidiot]

Years? DAMMIT!...... I know I should have used my Refer-a-Friend link!

Oh damn, sorry didn't realise they had one or I would have asked!

Assuming it's not lifetime rev share though... that's fairly rare outside of our industry, and maybe things like hosting.

[HodgeyBoy]

Oh damn, sorry didn't realise they had one or I would have asked!

Just Kidding, they do have a R-a-F scheme and I think it grants you a free transfer whenever five people make their first transfer after having used your links. I thought about using my link when I first recommended TransferWise all those years ago but I know you guys........ you'd spot it a mile off! and I didn't want to detrect from what was a sincere recomendation.