The tech revolution means that many jobs can now be undertaken remotely. With no need to sit at a desk from 9-5, you can carve out a career that takes you anywhere in the world. Whether you’re traveling globally to visit client sites or simply hopping from one continent to another as you undertake remote work, you’ll need reliable payment systems that enable you to receive funds in GBP.
In this article, we take a look at the payment methods that make it easy and secure to receive payments in GBP when working remotely anywhere in the world. So, if you’re a digital nomad, an international employee, or an expanding business that’s eager to hire top talent, read on to find out how payroll arrangements can be structured.
Top Ways to Receive Payments in GBP When Working Remotely Anywhere in the World
There are many ways that employers can pay workers who are operating remotely but they aren’t all equal. To find the easiest and most efficient ways a worker can get paid in GBP, regardless of where they’re working from, take a look at our top ways to receive payments in GBP when working remotely:
PayAlly’s multicurrency account is one of the most efficient ways to send and receive funds in various countries. As well as being paid in GBP, employees can receive funds in up to 38 other currencies, so it’s easy for employers to modify their payrolls to satisfy an international workforce.
A multi-currency account simplifies financial management for remote workers by centralising their transactions and reducing the need for multiple accounts. In addition to this, our multicurrency account reduces transaction costs and avoids unnecessary multi-jurisdiction payment fees by minimising the number of intermediaries used to complete transfers.
With standardised payment processes and centralised reporting, it’s easy to keep track of your incoming and outgoing funds with a multicurrency account – no matter what currency you’re being paid in.
If you’re working abroad and being paid by a UK-based company, they may not need to exchange currency to pay you in GBP. However, if you’re being paid by a company based outside of the UK, they will need to convert their domestic currency into GBP before transferring the funds to you.
Our currency exchange service ensures it’s simple and cost-effective to convert funds at any time. Access to real-time transfer rates means employers can reduce expenditure by choosing a favourable time to trade, while forward contracts give employers the opportunity to lock in exchange rates to get the best value.
Many people who work remotely and travel the world do so because they operate on a freelance or self-employed basis. The added freedom that this type of work offers means it’s ideal for intrepid travellers who want to combine a career with exploring the world.
In these situations, you may be receiving payments from multiple different clients on a one-off or ad-hoc basis. If so, asking your clients to pay in your GBP via international payments could be the best option.
If the client is based in the EU, for example, a SEPA Credit Transfer is a low-cost way for them to send your payment, and a SEPA Instant Credit Transfer means you’ll receive the funds within seconds. Alternatively, for high-value payments, a TARGET2 transfer could be the preferred option for both you and your clients.
However, you aren’t limited to the Eurozone if you want to travel the world and get paid in GBP. SWIFT payments can be processed across 200 countries and territories by more than 11,000 banking institutions. So, whether you’re working from a Fijian beach, hosting virtual meetings on a balcony overlooking the Pacific coast, or meeting with clients in Australasia, SWIFT payments make it easy to stay in control of your revenue stream.
Can You Work Remotely from Anywhere in the World?
If building a career while travelling the world sounds like a dream come true, you may be tempted to switch roles, request remote working, or launch your own business to create the perfect work-life balance. Before you book your one-way ticket, however, there are some important things to consider, including:
1. Work Permits and VISAs
When you’re working in another county, you may need a permit or VISA to meet the host country’s legal requirements, particularly if you plan to spend an extended period in one place or you’re running a business from outside the UK.
2. Payment Methods
Don’t wait until you’re working from a beachside taverna to get your payment methods and accounts set up. After all, you won’t get far on your travels if you don’t have a revenue stream! Apply for a multicurrency account now so you can manage your income and expenditure with the minimum of hassle as you hop from one country to another.
Fortunately, much of the world now has access to high-speed internet, which makes it easy to work remotely. However, this isn’t true everywhere, so plan your travels accordingly. Schedule your work so that you’ll be in locations with good connectivity levels and get off the beaten track when you don’t need to be in direct contact with employers, clients, or customers.
The equipment you need will obviously depend on your job role but most people who work remotely rely on a laptop or tablet to undertake their duties. If you want to ensure your revenue stream won’t be disrupted, be sure to plan ahead and have a selection of power banks, chargers, and universal adapters to hand!
How To Receive Payments in GBP Pounds When Working Remotely Anywhere in the World with PayAlly
At PayAlly, we understand the importance of localising international payments, which is why we offer a variety of services that make it easy to get paid in GBP when you’re working remotely anywhere in the world. To find out more or to apply for a multicurrency account, talk to our team now.