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Getting paid for a US contract? (self.personalfinancecanada)

submitted 2 years ago by SheerDumbLuck to c/personalfinancecanada

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I did a short contract with an entity in the US and am trying to figure out how they can pay me. I have a business and a Canadian business account.

Is there a recommended low risk/effort service I should use? I am in Ontario if that matters.

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[–] MapleEngineer 3 points 2 years ago* (last edited 2 years ago) (1 children)

I have worked in the US while living in Canada for more than 12 years. The first job I had in the US was a contract. I opened an account with RBC Bank in Atlanta and the company paid me into that account. I could then just transfer the money from my US funds account to my Canadian account. I have also worked for companies that used PEOs to employ Canadians. My current employer setup a Canadian subsidiary.

[–] SheerDumbLuck 1 points 2 years ago (1 children)

Thanks. It's not a contract with regular payments, just a couple of one time payments, and there's no formal employment agreement (just bulk services agreements), so a PEO doesn't apply here.

Most of my friends living in the US will use Wise or Norbert's Gambit to transfer their funds from the US to Canada because of the better exchange rate.

[–] MapleEngineer 1 points 2 years ago

I used the US funds account because I got the bank's internal exchange rate when moving the funds.