If a user invoices an External Employer, they can use any of 7 different currency accounts to receive their wage. The payroll amounts are priced in and received in the user's chosen currency and if sent in a different currency, the wages are automatically converted into the user's chosen currency.
If a user invoices an Internal Employer, they use the default currency of the Internal Employer.
Regular users are assigned 1 currency account, but users subscribed to bitwage.me have access to all 7. See list below of source currencies and payment methods supported.
Bitwage supports unique distribution preferences for each Internal or External Employer.
Once Bitwage receives the funds from the Employer, the received total is sent to a single distribution or split between 2 distributions in any integer percentage. For each distribution users can choose one of 3 distribution types including a savings account and debit card seen here.
"For me, receiving payments [through Bitwage] is the union between practicality, speed and convenience to avoid lengthy bureaucratic processes in terms of international transactions, and is also great for the possibility of preserving the price of the payment source currency. No doubt it is the best way to receive international payments today. "
- Beto Muniz, I.T. professional
"Flexibility, agility and less money spent on bureaucracy and fees."
- Lucas Nogueira, programmer
"it takes about 15 business days to complete an
international wire transfer to Brazil. The dollar exchange rate + transfer fees applied are
also considerably high, we lose about 3~4% of our money when using bank wires."
"Bitwage is the best option since it doesn't require the client to create any kind of account, they can simply pay it using Wire or ACH as they've been done their entire life. The process is also really quick since it takes about just 2 business days to make the payment appear in my account."
- Cássio, Cheesecake Labs, web & mobile app design and development company
"Receiving [through Bitwage] is to value your own salary. The advantage is the speed with lower rates than the competition. "
- Lucas Henrique, IT professional