Funds transfer best practices
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This document outlines best practices for international funds transfers and managing remote workers using CoinPip. It discusses how banks and SWIFT charge high fees for international wires. CoinPip provides a cheaper alternative for sending money overseas using regional bitcoin exchanges without needing bitcoin knowledge. The document provides tips for payroll, agreeing on fees and currency, minimizing costs, and paying remote workers on time. CoinPip aims to help businesses send funds internationally with low 2% fees or 1% for 500 Startups companies.
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Funds transfer best practices
- 1. Funds Transfer Best Practices
- 2. About me
- 3. Anson Zeall CEO & Co-Founder ● Batch 11 - 500 Startups ● Co-founder and Chairman of ACCESS (Association of Cryptocurrency Enterprises and Startups, Singapore) ● Computer Science by training, hedge fund manager by profession ● Founded a private family office trading/managing assets of US equities, derivatives and Asian Real Estate ● Built a Multi-level marketing company, top 10 youngest sales in Asia Pacific ● 3-time entrepreneur linkedin.com/in/ansonzeall angel.co/anson-zeall twitter.com/ansonzeall angel.co/coinpip | founders@coinpip.com
- 4. Why sending money overseas’ such a bitch?
- 5. Banks are too connected with SWIFT angel.co/coinpip | founders@coinpip.com ● Founded in 1973, SWIFT facilitates all wire transfers worldwide ● SWIFT’s main revenue stream are the wire fees.
- 7. angel.co/coinpip | founders@coinpip.com - Bank to bank via regional bitcoin exchanges - Users do NOT need to know ANYTHING about Bitcoin
- 9. angel.co/coinpip | founders@coinpip.com 1. Agree on who pays the fees 2. Agree on how to deal with the exchange rate 3. Which currency you’re “hooking” the payroll/payout to 4. Agree on the tax management of the payments 5. Find ways to minimize transfer fees! 6. Calculate the invisible exchange spreads
- 10. Remote workers management - Best Practices
- 11. angel.co/coinpip | founders@coinpip.com 1. CoinPip’s Mission: Recruit talented passionate freelancers 2. Treat them as if you’re paying them locally 3. Remote != No love! 4. Use Project Management tools. E.g. We use a combination of Trello and Basecamp 5. Pay on TIME
- 12. Ways we can help you
- 13. angel.co/coinpip | founders@coinpip.com 1. CoinPip does not charge a foreign exchange rate. 2. We only charge a transaction fee of 2%, regardless if you’re sending $20 or $10000 (#500strong gets 1% for life) 3. We help you do all your payouts 4. You pass us USD, and we do the rest 5. We send to Indonesia, Hong Kong, Singapore, China, Taiwan, Philippines, India and Bitcoin
- 14. The Remote Business Refer to pages 7- 16 of http://www.slideshare.net/CoinPip/the-remote-business
- 15. Sign up with us at coinpip.com Email 500@coinpip.com and mention CoinPipLoves500 to get lifetime 1% fee
- 16. Anson Zeall CEO & Co-Founder linkedin.com/in/ansonzeall angel.co/anson-zeall twitter.com/ansonzeall anson@coinpip.com angel.co/coinpip | founders@coinpip.com
Editor's Notes
- Start: I’m pretty sure most of you know.
- There’s a reason why banks are adverse to new remittance technologies. And SWIFT is the reason. When you make a transfer, SWIFT is the company facilitating majority of the transfers around the world for the last 40 years. It is just too risky for banks to move away from the existing infrastructure.
- So how does this all work? We use bitcoin to move money from country to country ...the best part is the users don’t need to know ANYTHING bitcoin …same way like how banks transfer your money, it should be as easy as a click of a button. <.....biz model…..”hard to replicate”.... banks Vs “non-US”> ….Volatility Risk… Benefits….fraud….
- Start: I’m pretty sure most of you know.
- Start: I’m pretty sure most of you know.
- Start: I’m pretty sure most of you know.
- Page 7 - 16
- Page 7 - 16