We have said it numerous times before that whilst the life of an international contractor offers many inviting perks, it also comes with its own unique set of problems. One of these problems occurs when a decision needs to be made regarding what currency to be paid in.
Unlike regular full time work when choosing to contract abroad there is often the choice regarding what currency you would like your money to be in. This can be an important decision as once the contract is agreed it is not always possible to change. Therefore it should be carefully considered as to the strength of the currency and liability to fluctuate in the market before committing to it. Another factor would be what currency you are likely to be using the most as unless you are in a position to monitor the market and make conversions based on an informed decision in order to enjoy a more favourable rate then you may end up losing out as converting out of necessity rarely results in better rates.
However, here at Chesterfield we offer solutions to our contractors using multicurrency accounts that allow them to make payment in any currency of their choice regardless of the original contract currency. Our system is designed to make it simple for our contractors working off their instructions without the need for additional inconvenient conversions or annoying paperwork. Our staff are constantly monitoring currency fluctuations in order to keep abreast of the market and offer advice in cases of uncertainty.
If you are a contractor or thinking of taking a contract and would like to learn more about how our solutions might be beneficial to you please do not hesitate to contact us.