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Money transfer for off shore salaries
Hi,
I've just employed 2 contractors based in South Africa.
I'm looking for the best way to transfer their salaries from my UK business account into their personal South African bank accounts. I believe HSBC (who I currently bank with) charge £17 per an international transfer. Is there a cheaper, legitimate way of doing this?
Any help or advice will be greatly appreciated!
Why not have your contractors open PayPal accounts, and just pay into those?
Another idea, there must a bank or two that have branches in both the UK and SA. Open accounts in your contractors names, you deposit to them in the UK and they withdraw from them in SA.
You could buy money orders or cashiers checks, and send them in the mail. They ought to be easily negotiable in SA.
Hey, I've never had to do anything like this. So, I'm just fielding ideas here for you to check out for yourself.
Last edited by VegasGeorge; 11-05-2009 at 12:59 PM.
How I have dealt with it in the past was to open myself an account in the country and just send a large amount over in one go to save fees, then pay staff from that account.
This wasn't SA though.
