LatAm Payments: How to Receive USD in Latin America as a Remote Developer [2026]

Remote work is on the rise worldwide, and Latin America (LatAm) has become a hotspot for tech talent. U.S. companies are drawn to the region’s skilled developers, aligned time zones, and competitive costs. This boom in cross-border hiring comes with a critical question for LatAm remote developers: how do you get paid in USD efficiently and affordably? 

Getting paid in U.S. dollars is desirable for many LatAm developers, but the process can be tricky. In this guide, we’ll tackle that common challenge head-on. You’ll learn about the LatAm payments landscape, compare top LatAm payment methods (Wise, Payoneer, PayPal, Crypto), explore country-specific considerations, and get practical advice on choosing the best solution. 

Multicurrency Digital Wallets and Accounts to Receive Payments in LATAM (with Card Access)

Multicurrency digital wallets are online accounts that act as a financial bridge between your U.S. clients and your life in Latin America. These platforms let you receive payments in USD into a virtual wallet or multicurrency account, hold the funds in USD, and often spend or withdraw via an associated card or local bank transfer. In essence, they give you some features of a U.S. bank account without actually being one.

Here’s how these multicurrency digital wallets work:

When you sign up for a service like this, you get account details or a wallet ID to receive USD payments. Some provide you with “local” U.S. banking details – a routing and account number – that your client can send an ACH transfer to, as if you had a U.S. bank account. Once the payment arrives, the money is credited to your wallet. From there, you typically have a few options to use the funds:

• Hold in USD: Keep the money in your wallet/account in dollars as long as you want (useful if you expect local currency devaluation).
• Convert to Local Currency: Instantly convert some or all of the balance into your local currency within the app to withdraw to your local bank. Conversion usually uses the platform’s exchange rate.
• Spend with a Card: Many services offer a linked debit card (physical or virtual Mastercard/Visa) that lets you spend your balance directly. You can often pay online or in-store, either using the USD balance or letting the service convert to the local currency at the time of purchase.

Popular examples in this category include Payoneer, Wise, and PayPal (when used as a wallet for holding funds). These are widely used by freelancers to receive international payments in LATAM.

• Payoneer: Provides receiving accounts in USD (and other currencies) and a prepaid Mastercard. It’s integrated with many freelance marketplaces (Upwork, Fiverr, etc.) and allows withdrawing to local banks. You receive payments as if you had a U.S. bank account, and Payoneer holds the funds in your USD balance until you transfer or use them.
• Wise: Offers a “multi-currency account” where you can hold 50+ currencies. You get local bank details (ACH for USD, IBAN for EUR, etc.) to receive payments, and can convert at near mid-market rates with transparent fees. Wise also provides a debit card in many regions for spending your balance.
• PayPal: Functions as a digital wallet where clients can pay you via email. You can hold the money in USD in your PayPal account. While PayPal doesn’t issue cards in most LatAm countries, you can withdraw funds to a linked local bank (usually converting to local currency in the process). However, PayPal’s fees and exchange rates are often less favorable than specialized services.

Virtual U.S. Bank Accounts via ACH (Fast Local Transfers)

This category refers to services that provide virtual U.S. bank accounts (typically ACH accounts) to Latin American users. Essentially, you are given U.S. banking details (a routing number and account number) that you can hand to your U.S. client or platform. The client sends an ACH transfer (Automated Clearing House – the standard U.S. bank-to-bank transfer system) to those details, and the money is received by the service, which then credits you (often in USD) on their platform. It’s like having a U.S. bank account without being a U.S. resident or visiting a bank.

Here’s how these U.S. bank accounts work:
When you sign up with a provider, you complete identity verification and are issued virtual account details. 

• The client initiates an ACH transfer to your virtual account (from their U.S. bank or platform). From their perspective, they’re just sending money to a U.S. account – no international fuss.
• The service receives the USD into a pooled account and credits your individual balance on their platform, usually within 1-3 business days (ACH in the U.S. is often next-day or 2 days). This is quicker than an international wire and typically costs nothing or very little in fees. 
• Once the funds are in your account, you have options similar to category 1: you can keep the balance in USD, withdraw to your local bank (usually you’d convert to local currency in-app first), or even send to another account or card. Some services also allow converting to crypto or stablecoins (more on that in the next section).
  

Let’s see some examples:

A growing number of fintech platforms in LatAm offer virtual U.S. accounts:

• CiNKO: A Latin American fintech that provides a virtual ACH account for users in any LatAm country. It charges only $1 per incoming transfer and gives you a virtual Visa card to spend the funds online.
• Airtm: A digital wallet popular in LatAm, Airtm’s US Virtual Account feature gives you a U.S. bank account number to receive ACH and wire payments. Uniquely, they convert the received USD into USDC (a dollar-pegged crypto) in your Airtm wallet at a 1:1 rate minus a fee. From there, you can withdraw via Airtm’s P2P network to local currency at the real exchange rate of the market.
• Belo: An Argentine-based crypto-friendly wallet, Belo recently launched USD ACH deposits directly into its wallet. Users get a dollar receiving account, and incoming ACH transfers are automatically converted to a USD stablecoin in the app. The balance can earn interest, and you can spend it or withdraw locally. Belo even has a card for spending your crypto or USD balance.

In summary, virtual ACH accounts are a powerful option if you regularly receive USD and want to minimize fees. They are “low-friction” and cost-effective, making your USD income feel like local money in terms of ease.

Cryptocurrency and Stablecoins (USD Token Payments) – A surging LATAM payment method

This method involves receiving your payments in the form of USD-denominated cryptocurrencies, typically stablecoins like USDT (Tether) or USDC (USD Coin). A stablecoin is a cryptocurrency pegged 1:1 to the US dollar, designed to maintain a stable value. By using crypto rails instead of traditional banking infrastructure, freelancers and contractors can receive payments directly through blockchain networks. You receive digital USD tokens into your crypto wallet.

Here’s how these USD token payments work:
Your client needs to be willing to pay in crypto – this is becoming more common, especially among tech-savvy clients or via crypto payroll services. There are a few scenarios:

• Direct Wallet Transfer: You provide your stablecoin wallet address to the client. They send USDT/USDC equivalent to your invoice and send it to your address. For example, if using USDC on the Ethereum network, they send from their wallet to your Ethereum address. Once the transaction is confirmed, the tokens show up in your wallet within minutes, and you effectively have those USD (in token form) to use.
• Through a Service (e.g., crypto payment processor): Platforms like Bitwage, Request, or even some exchanges facilitate this by allowing a client to fund via bank transfer or card, and the platform delivers crypto to you. 

Once you have the stablecoins, you can choose how to utilize them:

• Hold as Savings: Keep the stablecoins in your wallet as a dollar-saving mechanism. This is popular in countries where saving in local currency is not the best choice due to depreciation. Many Latin Americans treat USDT/USDC as their digital dollar account.
• Convert to Local Currency (Cash Out): When you need local money, you have options: send the stablecoins to a crypto exchange that operates in your country and sell them for local currency, which you withdraw to your bank. Alternatively, use a P2P marketplace: for example, Binance P2P or LocalBitcoins-style platforms let you sell USDT/USDC directly to other users in exchange for a bank transfer or cash in your local currency.
• Spend Directly: Crypto debit cards have emerged that allow you to spend your stablecoins at merchants. Some exchanges (like Binance, in certain regions) and local crypto fintechs offer Visa/MasterCard debit cards that draw from your crypto balance. When you swipe, they instantly convert a bit of your USDT/USDC to local currency to settle the transaction. 
• Swap to Other Assets: If you’re crypto-inclined, you could exchange stablecoins for other cryptocurrencies or even invest in DeFi to earn yield. This goes beyond the scope of getting paid, but it’s an option once you hold crypto.

Bonus – Hybrid Solutions: It’s worth noting that some emerging services combine ACH and Stablecoins to give the best of both worlds. This means that you can receive an ACH transfer in USD directly into a wallet, which is immediately converted into a stablecoin (with no fees on the transfer). From there, the user can cash out via local methods like bank transfer or mobile money almost instantly. 

Choosing the Best Payment Method in LATAM for You

When deciding how to receive your hard-earned USD in Latin America, consider your priorities: speed, cost, ease-of-use, and risk tolerance.

In practice, you don’t have to pick just one method. Many savvy freelancers use a combination: for example, using Payoneer/Wise for certain clients or platforms that only support those, but using crypto for clients open to it, and perhaps maintaining a virtual account as a backup or for specific withdrawals. It’s about creating a toolkit of options.

However, if you’re tired of juggling contracts, compliance worries, and short-term gigs that never quite feel stable, at BEON.tech, we help developers do what they do best: ship great code.

Join high-impact U.S. product teams as a full-time, long-term engineer, with:

• Real ownership over meaningful projects
• Stable compensation and benefits (no misclassification headaches)
• Modern stacks, strong engineering cultures, and clear career growth
• Time-zone alignment and fluent collaboration—no async chaos

Whether you’re scaling systems, refining architecture, or building new products from scratch, BEON connects you with U.S. companies that value your craft and invest in your growth. Apply now and work with teams where your code—and your career—actually scale.

Country-Specific Pro Tips: How to Receive USD in Latin America

While many Latam payment methods work across borders, the reality is that each country has its own banking rules, fees, and friction points. Below is a country-by-country breakdown of how payments in LatAm actually work in practice, based on BEON’s payment experience.

Honduras: USD Payments via Bank Transfer or PayPal

Best options: Bank transfer (SWIFT) or PayPal
Main challenge: High intermediary fees and FX spreads

In Honduras, developers can receive USD primarily through international bank transfers or PayPal.

For bank transfers, you’ll need a local account enabled to receive international USD payments. Payments at BEON BEON typically arrive within 1–4 business days after confirmation. However, intermediary banks often charge US$8–US$25 per transfer, and your local bank may apply additional receiving fees. 

PayPal is faster—payments usually arrive within minutes (first payment may take 1–3 business days). The main drawback is conversion cost: converting USD to Lempiras inside PayPal applies a 3.5% FX markup. A common workaround is to keep USD in PayPal for USD-based spending or convert through your bank instead. Also, PayPal often defaults cards to local currency; manually setting the card currency to USD helps reduce hidden FX losses.

Colombia & Mexico: Receiving USD via Wise or Bank Transfer

Best options: Wise or bank transfer
Main challenge: Compliance and tax reporting requirements (country-specific)

Colombia and Mexico share very similar setups when it comes to receiving USD in Latin America. In both countries, payments are commonly handled through international bank transfers or Wise, two of the most practical latam payment methods for remote developers.

For bank transfers, BEON sends payments within 1–4 business days in Colombia and 1–3 business days in Mexico. Intermediary bank fees usually range from US$5–US$25, depending on the banks involved. As with many payments in Latam, it’s important to confirm payouts in USD (not local currency) to avoid forced conversion.

Wise is widely used in both countries due to fast settlement, transparent fees, and the ability to hold USD balances. This makes it one of the most efficient latam payment solutions for developers who want flexibility and control over when to convert funds into local currency.

Country-specific considerations:

• Colombia: Incoming USD payments must be authorized through the local banking platform, where the source of funds is declared. Funds must be withdrawn within 90 days, and transactions are reported to the central bank and reflected in DIAN tax records. First-time recipients may need to activate international payments (often called Abono Automático) and submit a work contract.
  
• Mexico: Once USD is converted to MXN and deposited into a Mexican bank account, it becomes taxable income. Developers operating under the Régimen Simplificado de Confianza must register with eFirma and report income accordingly to SAT.

Peru: USD Payments with Wise, PayPal, or Bank Transfer

Best options: Wise or PayPal
Main challenge: Choosing the best FX conversion path

In Peru, developers can receive USD through bank transfers, Wise, or PayPal. Bank transfers follow the familiar pattern: 1–4 business days.

Wise allows developers to hold USD and convert to soles when needed, with clear fee breakdowns before confirming transactions. PayPal is fast, but FX conversion inside PayPal can be costly.

A Peru-specific optimization highlighted in the guide: many developers prefer converting USD to soles using local FX platforms (such as TKambio, Rextie, or Kambista) rather than banks, as they often offer better exchange rates.

Argentina & Venezuela: Receiving USD via Crypto or External USD Accounts

Best options: USDC/USDT (crypto), Payoneer (Venezuela), U.S.-based USD bank account (Argentina)
Main challenge: Local banking restrictions and FX controls

Argentina and Venezuela operate under different banking conditions than most payments in LatAm, but receiving USD is still very feasible with the right setup. In both countries, crypto-based solutions have become some of the most practical latam payment methods for remote developers working with international companies.

With cryptocurrency payments, funds typically settle within minutes, with no intermediary fees deducted. Developers usually receive USDC or USDT and convert to local currency through P2P marketplaces such as Binance P2P, selecting counterparties based on reputation and transaction history. This approach is widely used and offers a straightforward way to manage USD income in both countries.

Country-specific considerations:

• Argentina: While receiving USD directly into a local bank account is restricted, developers can still receive USD through a U.S.-based USD bank account, with transfers arriving in 2–5 business days and typically no additional fees. In practice, many developers choose crypto as a flexible alternative, using the ERC20 network for reliability and P2P platforms to access competitive exchange rates and avoid forced conversion.
  
• Venezuela: Due to local banking limitations, crypto and Payoneer are commonly used payment methods. Crypto payments settle almost instantly and are easily converted to local currency via Binance P2P. Payoneer also provides USD receiving accounts with fast availability; however, withdrawals to local banks may involve up to 3% conversion fees. To optimize costs, many developers combine both options depending on their needs.

Shift the Focus to Your Career with BEON

Choosing the right payment method matters—but so does choosing the right partner. At BEON, we match Latin American developers with stable, full-time roles at U.S. product companies, offering predictable USD compensation and clear career growth. No juggling platforms, no payment uncertainty—just great engineering work with teams that respect your time and talent.
Join BEON and build software where your work—and your career—can scale.

FAQs

What are the simplest ways for Latin Americans to receive USD from the U.S.?

The most common methods include direct bank transfers (via SWIFT), global payment platforms (like Wise or PayPal), and receiving USD in stablecoins on a crypto wallet. Each option has different cost structures and processing times, so the best choice depends on your priorities like speed, fees, and convenience.

Can I receive USD directly into my local bank account in Latin America?

Yes, but not all banks support direct USD deposits from the U.S. via international wire transfer. You may need an intermediary bank, or alternatively use services like Wise or crypto stablecoins to receive USD before converting it into local currency.

Are there fees or taxes I should be aware of when receiving payments from the U.S.?

Yes—international transfers often carry fees from sending banks, receiving banks, and intermediary banks. Services like Wise or crypto rails can be more cost-effective. Always check with local tax authorities about reporting requirements and applicable taxes on foreign income in your country.

How long does it typically take to receive USD from the U.S.?

Timing varies by method:

• Bank wire transfers: 1–5 business days
• Global payment platforms: Usually within 1–2 business days
• Stablecoin transfers: Often within minutes to hours, depending on network congestion and platform procedures

Choose the method that fits your urgency and cost preferences.