I am looking for US consulting jobs and I hold a HSBC CAD account here. I am exploring cost effective options for getting Salary(USD) from US employer
Need your expert advice and reply for below options and on the queries
Option-1:
********
a. Create a wise cross border USD account and use it to receive salary
b. when required use wise transfer to get CAD into HSBC account from wise-usd account
Q-1.Which wise account required here? personal or business?
Q-2.Will there be charge for employer or me here for salary credit in wise?
Q-3.Having fund in wise account will create any tax obligation to IRS?
Option-2:
********
a. create TD border less account(USD/USA) and get is credited with salary
b. create a TD USD account(USD/Canada) in Canada
c. Transfer USD from USD/USA to USD/Canada
d. Use wise transfer to get CAD into HSBC account from TD USD account(USD/Canada)
Q-4.Will there be charge for employer or me here for salary credit in account?
Q-5.Transfer from USD/USA to USD/Canada will be charged by TD?
Q-6.Will this create any tax obligation to IRS?W8BEN to be shared with TD?
Option-3:
********
a. create a TD USD account in Canada - USD/Canada
b. Use wise transfer to get CAD into HSBC account from TD USD account(USD/Canada)
Q-7.can employer transfer salary(USD) directly to USD/Canada account?
Q-8.Will there be charge for employer or me here for salary credit in TD USD/Canada account?
Which option is better and consumer less charges/fees?
Any other better and cost effective option?
Thanks
Ram
Need your expert advice and reply for below options and on the queries
Option-1:
********
a. Create a wise cross border USD account and use it to receive salary
b. when required use wise transfer to get CAD into HSBC account from wise-usd account
Q-1.Which wise account required here? personal or business?
Q-2.Will there be charge for employer or me here for salary credit in wise?
Q-3.Having fund in wise account will create any tax obligation to IRS?
Option-2:
********
a. create TD border less account(USD/USA) and get is credited with salary
b. create a TD USD account(USD/Canada) in Canada
c. Transfer USD from USD/USA to USD/Canada
d. Use wise transfer to get CAD into HSBC account from TD USD account(USD/Canada)
Q-4.Will there be charge for employer or me here for salary credit in account?
Q-5.Transfer from USD/USA to USD/Canada will be charged by TD?
Q-6.Will this create any tax obligation to IRS?W8BEN to be shared with TD?
Option-3:
********
a. create a TD USD account in Canada - USD/Canada
b. Use wise transfer to get CAD into HSBC account from TD USD account(USD/Canada)
Q-7.can employer transfer salary(USD) directly to USD/Canada account?
Q-8.Will there be charge for employer or me here for salary credit in TD USD/Canada account?
Which option is better and consumer less charges/fees?
Any other better and cost effective option?
Thanks
Ram