Get paid in GBP or USD?

[Stephen Storey]

Hi guys,

I am owed a lump sum from a company and they are about to transfer me this sum.

They have asked if i would like it to be paid it in GBP or USD .

I have a feeling this is a stupid question but what is best? I am assuming it is related exchange rate

 

[MikeJ]

Unless you have a USD bank account to receive it in, and have suppliers you need to pay in USD, then get paid in GBP. Otherwise you're going to lose when you convert it to GBP.

 

[Stephen Storey]

Unless you have a USD bank account to receive it in, and have suppliers you need to pay in USD, then get paid in GBP. Otherwise you're going to lose when you convert it to GBP.

Thanks for your reply mate, so i will lose out due to the exchange is that basically it?

 

[MikeJ]

The bank will convert it on receipt at their going rate. Depending on how many USD the American company sends, you may be up or down, but probably down.

If the American company instructs their bank to ensure you receive £X in GBP, then they'll do the calculation and you'll get the correct payment.

 

[Newchodge]

What currency have you invoiced in? Use that.