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Some expats are paid in the local currency, while others have to bring cash across from the UK. Both have pros and cons.
Being paid in the local currency seems simple, but can have tax implications. You may, for example, be taxed in both the UK and the country you are living in – meaning you have to make a double-taxation claim, which can be complicated and leave you out of pocket. You could even lose out if the local currency loses value against the pound.
If you receive your income in pounds, however, you’ll need to think about how to change it into money you can use locally.
Withdrawing money using a UK debit card is not a good option long term. Charges can add 5% or more to the cost, and exchange rates offered by banks are often poor.
Savvy expats will often use specialist money transfer services to bring cash from their UK accounts to their local ones. These companies can generally offer lower charges and better rates, as well as services designed to make you less vulnerable to currency fluctuations.