Best Payment Services for Foreign Contractors

Want to know my favorite ways to pay overseas contractors?

1. PayPal – super fast and convenient. But fees might be high for larger amounts, some countries aren’t allowed, and/or recipients have to wait longer.
2. Western Union/MoneyGram – cheap enough and allows local pickup. But can be frustrating to deal with the sending and verification process sometimes.
3. Xoom – now owned by PayPal. Cheap, fast, and easy, allows local pickup. Great when other payment options don’t cover the country or can’t send fast/cheap enough.
4. WorldRemit – cheap and great, allows local pickup. (Affiate link)
5. TransferWise – great for bank transfers. Super friendly and goes straight to their bank account. Can handle many destinations.