We now support sending USD through TransferWise!
If you're using PayPal for payouts, we encourage you to consider switching to TransferWise to take advantage of its lower fees. For mentors who don’t have a USD bank account, we can also send payouts to TransferWise USD borderless accounts. Please check with TransferWise before choosing the USD option.
To set this up, just follow these steps:
- Create a USD borderless account on TransferWise by going to this page and clicking on the green “Get started” button. The link includes FAQs on Borderless accounts as well.
- After the account has been created and confirmed, go to your Codementor payout settings here, and choose TransferWise under "Payout Method".
- Select "USD" as the currency, and fill in your TransferWise account’s email address.
- We’ll start sending payouts to your TransferWise account starting with the next payout cycle.
Once you start receiving your payouts, you will be able to manually process them to your local account.