Transferwise Experience / Working on Irish payroll in Canada
#1
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Joined: Mar 2018
Posts: 55
Transferwise Experience / Working on Irish payroll in Canada
Hi!
So, I have 2 questions here. What is your experience with Transferwise? I am trying to figure out the best way to move our savings over Irish account to a Canadian one. I am considering opening up a Transferwise account and hope to avoid the crazy fees. Any of you guys have experience with Transferwise or perhaps other good tips?
Then, the other questions is one that I can't really get a grip on. My current employer is considering to keep me employed and have me work from Canada remote. We have offices in both the US and Ireland, but no experience with remote workers in other countries. Is there a way that I can be kept on the Irish payroll and how would that work with being taxed? I do believe there's a construction for this, but it goes beyond my comprehension : P
Thanks so much for thinking along!
So, I have 2 questions here. What is your experience with Transferwise? I am trying to figure out the best way to move our savings over Irish account to a Canadian one. I am considering opening up a Transferwise account and hope to avoid the crazy fees. Any of you guys have experience with Transferwise or perhaps other good tips?
Then, the other questions is one that I can't really get a grip on. My current employer is considering to keep me employed and have me work from Canada remote. We have offices in both the US and Ireland, but no experience with remote workers in other countries. Is there a way that I can be kept on the Irish payroll and how would that work with being taxed? I do believe there's a construction for this, but it goes beyond my comprehension : P
Thanks so much for thinking along!
#2
Re: Transferwise Experience / Working on Irish payroll in Canada
I have used TW for all my transfers over the last 3 years and continue to use them. I normally transfer large amounts that need multiple 'faster payments' transactions from my UK high street bank account. Very pleased with them, the rates, the speed and the charges.
#3
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Joined: Mar 2018
Posts: 55
Re: Transferwise Experience / Working on Irish payroll in Canada
Thanks for confirming! It looks like this is going to be a big saver..
#4
Re: Transferwise Experience / Working on Irish payroll in Canada
I'm not in Canada anymore, but I've been using it once a month for the last four years with no problems whatsoever. Charges are extremely cheap compared to the banks. The whole online process is simple & quick.
#5
Re: Transferwise Experience / Working on Irish payroll in Canada
Hi!
So, I have 2 questions here. What is your experience with Transferwise? I am trying to figure out the best way to move our savings over Irish account to a Canadian one. I am considering opening up a Transferwise account and hope to avoid the crazy fees. Any of you guys have experience with Transferwise or perhaps other good tips?
Then, the other questions is one that I can't really get a grip on. My current employer is considering to keep me employed and have me work from Canada remote. We have offices in both the US and Ireland, but no experience with remote workers in other countries. Is there a way that I can be kept on the Irish payroll and how would that work with being taxed? I do believe there's a construction for this, but it goes beyond my comprehension : P
Thanks so much for thinking along!
So, I have 2 questions here. What is your experience with Transferwise? I am trying to figure out the best way to move our savings over Irish account to a Canadian one. I am considering opening up a Transferwise account and hope to avoid the crazy fees. Any of you guys have experience with Transferwise or perhaps other good tips?
Then, the other questions is one that I can't really get a grip on. My current employer is considering to keep me employed and have me work from Canada remote. We have offices in both the US and Ireland, but no experience with remote workers in other countries. Is there a way that I can be kept on the Irish payroll and how would that work with being taxed? I do believe there's a construction for this, but it goes beyond my comprehension : P
Thanks so much for thinking along!
#8
Re: Transferwise Experience / Working on Irish payroll in Canada
My current employer is considering to keep me employed and have me work from Canada remote. We have offices in both the US and Ireland, but no experience with remote workers in other countries. Is there a way that I can be kept on the Irish payroll and how would that work with being taxed? I do believe there's a construction for this, but it goes beyond my comprehension
#9
Re: Transferwise Experience / Working on Irish payroll in Canada
Lots of threads on Transferwise. Completely reliable. Seems to be a favourite all over the forum.
I use them monthly and have done so for 3 years now.
#10
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Joined: Mar 2018
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Re: Transferwise Experience / Working on Irish payroll in Canada
rivingtonpike yes, forgot to mention, I am just waiting for my CoPR to come in. Hurlabrick Thanks for the info. It's good to know this exists and I will have study up on the exact details of it. Also good to be reminded of notifying Irish Tax Dep. so much going on in my head right now.
Will definitely use Transferwise, did a bit of calculating and the savings are BIG.
Will definitely use Transferwise, did a bit of calculating and the savings are BIG.
#11
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Joined: Aug 2017
Location: Toronto
Posts: 128
Re: Transferwise Experience / Working on Irish payroll in Canada
Dunno if Revolut is available in Ireland... but it's such an easy way to manage different currencies. You have bank accounts in each currency you need, and you can move money at close to spot rate. It takes 5 minutes to set up.
I can give you a link for £10 free balance (I get £10 too). But that's not why I'm recommending it! It's genuinely brilliant.
They're launching in Canada soon. I registered in the UK (while in Canada - it's v short application form for a new bank account compared to Canada!)
<sniip>
I can give you a link for £10 free balance (I get £10 too). But that's not why I'm recommending it! It's genuinely brilliant.
They're launching in Canada soon. I registered in the UK (while in Canada - it's v short application form for a new bank account compared to Canada!)
<sniip>
Last edited by Siouxie; Sep 18th 2019 at 3:02 am. Reason: Sorry - site rule 9. no affiliate referrals in posts please.
#12
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Joined: Mar 2018
Posts: 55
Re: Transferwise Experience / Working on Irish payroll in Canada
Thanks! I will def look into Revolut. Amazing to see all these great alternatives to the conventional banks with their hefty fees!
#13
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Joined: Dec 2016
Location: St Catharines, Ontario From Bournemouth UK
Posts: 417
Re: Transferwise Experience / Working on Irish payroll in Canada
We transferred the sale proceeds from our UK property to Canada using TransferWise. Compared to the big retail banks, we saved £8000 in unnecessary exchange fees with TransferWise. The money is in your Canadian bank account within 24 hours. One advantage with TransferWise is the ability to cancel an order. E.g if some good news on Brexit comes out when the exchange rate was $1.62 and jumps to $1.66, you can cancel your earlier order and resubmit , as long as you do it within 24 hours.
#14
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Joined: Mar 2018
Posts: 55
Re: Transferwise Experience / Working on Irish payroll in Canada
We transferred the sale proceeds from our UK property to Canada using TransferWise. Compared to the big retail banks, we saved £8000 in unnecessary exchange fees with TransferWise. The money is in your Canadian bank account within 24 hours. One advantage with TransferWise is the ability to cancel an order. E.g if some good news on Brexit comes out when the exchange rate was $1.62 and jumps to $1.66, you can cancel your earlier order and resubmit , as long as you do it within 24 hours.