If you create a payroll or are invoiced by an overseas freelancer, contractor, or employee, Bitwage supports 7 possible default currencies and different funding methods for each.
The payroll amounts are priced in and received in the employer's default currency and if sent in a different currency, they are automatically converted into the default currency. See currencies and funding methods list below and also here. Limits exist for paying via credit card and ach debit.
Bitwage gives the worker unique distribution preferences for each Internal 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.
"Although there are the big gorillas in this space, like PayPal or Western Union, none of them offer the flexibility necessary to operate an efficient global company. ...The main [issues] are the 1) speed to get funds to the contractor and 2) the awful exchange rate. Specifically for us, we were looking to get our employees in the Philippines money in a timely manner. Some of the specific options that we tried were Remitly, Transferwise, Paypal, Western Union, Xoom, and a few other small ones."
"We finally settled on a new, innovative start-up called BitWage. ....Within minutes, we were set up to start sending payments to our employees in the Philippines and although there were hiccups in the beginning, none of these issues were ever too large to overcome. Besides having amazing customer support, BitWage offers a great exchange rate and timely service."
-Ryan Stomel, CEO, Call Criteria