This month we’ve talked about being a digital nomad, tools for being a successful digital nomad, finding a job as digital nomad, and few other odds and ends. But by this point many are wondering about making money (and banking in general) as a digital nomad. So let’s talk banking, financial transactions, and maybe a few other tidbits to boot!
Obviously working in the continental United States proves little obstacle for receiving funds for payment and then processing through the bank of your choice. In our case we are members of a small, localized credit union. However, they belong to a much larger Co-Op of credit unions so we are able to use branches and ATMs throughout the country. It is ideal for us and has been the solution over big banking that so many of us dislike. A typical transaction involves invoicing (through Hiveage), payment (through PayPal), completed invoice PDF sent to client, transfer of funds (every 2 weeks like a “payday”) from PayPal to credit union checking account, 48-business hours to process, funds available. If you are adventuring outside of the United States though things can get a bit more complicated. Continue reading