Expanding into Mexico often starts with a simple question: How do we open a Mexican bank account? Until now, the answer involved branch visits, local partners, and months of paperwork. Today, that changes.

Submit your US Onboarding documents online, and in just a few days Coba delivers a working CLABE under your existing entity, ready to send and receive MXN through SPEI and convert funds 24/7.

Key Capabilities

Obfuscated information from a real CLABE assigned to LLC

Pain Points Solved

• Access Mexico’s payments network without local shareholders.
• Faster pay‑ins/pay‑outs in MXN, improving supplier and payroll cycles.
• Transparent FX with control over timing and spreads.

Use‑Case Snapshots

1. E‑commerce / Marketplaces: Collect MXN from buyers or sellers, pool funds, and auto‑convert to USD when target rates hit.
2. Global SaaS & Service Firms: Bill in MXN, hold pesos as an FX hedge, and repatriate to USD for U.S. reporting.
3. Nearshore Manufacturers / Maquilas: Pay local suppliers in MXN, convert off‑peak for better spreads, and bring sales proceeds back in USD.
4. U.S. Investment Platforms & Funds: Accept MXN via CLABE, convert on internal timelines, and settle USD directly into U.S. accounts.
5. VC‑Backed Startups in Mexico: Channel MXN revenue into a CLABE, convert 24/7, and sweep dollars to one U.S. treasury account for board‑level reporting.

Next Steps

Existing users will see their “MXN Holding Account” in the dashboard once they get paid or convert into MXN for the first time. New to Coba? Start here → https://app.coba.ai/registrations/new.

Key capabilities include:

• Local receiving accounts in select currencies (USD, MXN, EUR, CAD, CNH) with IBAN, SPEI, ACH, or SEPA rails depending on the currency
• Hold funds in multiple currencies simultaneously, with no daily limits on balances or usage
• Interconnect with existing US-based accounts such as IBC, Mercury, Brex, or institutional-level banks for seamless inbound or outbound movement
• Leverage Coba’s FX rail to convert between currencies when conditions are favorable
• Optional AI-decisioning that helps trigger exchanges based on market conditions or pre-set business rules

These accounts are built for operational control — giving finance teams the ability to manage treasury positions, reduce unnecessary FX exposure, and avoid payment delays across jurisdictions. CAD support enables smoother transactions with Canadian partners or teams, especially in nearshoring strategies, while CNH unlocks fund movement for Asia-Mexico trade, manufacturing, or logistics.

All of this works within a unified interface, with full support for automation, reconciliation, and integration via API if needed. This makes the feature compatible with both early-stage ventures and more complex businesses operating in the US-Mexico corridor and beyond.

To see the feature in action, including how to activate your accounts and route funds across currencies, watch the full walkthrough video below.

This alliance brings together two teams deeply committed to simplifying and optimizing financial flows in one of the world’s busiest and most complex commercial corridors: the United States and Mexico, where over $356 billion in trade and payment activity is projected by 2032.

Why This Partnership Matters

The cross-border needs of growing businesses—from SMBs to global platforms—are changing fast:

• Financial operations are still fragmented, requiring multiple vendors and back-office teams to reconcile USD <> MXN flows.
• FX fees and unpredictability continue to erode profit margins.
• Delays in settlements mean companies need to hold excess capital instead of investing in growth.
• Many traditional providers don’t understand the specific needs of companies operating between these two markets.

That’s why Monex USA and Coba are joining forces—to enable faster, smarter, and more cost-efficient cross-border operations for the next generation of businesses in the region.

What This Means for Coba Clients

Through this partnership:

• Coba clients will have access to Coba’s real-time cross-border payment rail supported by Monex’s FX desk and digital platform, enabling global payouts, real-time rates, and currency hedging tools.
• Monex will support clients referred through Coba with international settlements, tailored FX strategies, and multi-currency account solutions.
• All integrations are designed with compliance, transparency, and automation in mind, supporting high-volume businesses or platforms seeking embedded financial capabilities.

For companies managing payroll, vendor payouts, collections, or treasury operations across borders, this represents a meaningful upgrade to how money moves in and out of Mexico.

“At Coba, we eliminate businesses’ financial challenges when managing cross-border transactions and navigating costly, complex banking systems. Through our partnership with Monex USA, our clients may have access to Monex’ FX capabilities, faster transactions, and powerful tools to help their businesses thrive. With features like multi-currency accounts, global payouts, rapid settlements, and an intuitive platform, Monex will enable our clients to unlock new growth opportunities. By providing access to Monex USA’s innovative online payments technology, common clients will simplify global financial operations.”

— Carlos Medellin, CEO & Co-Founder of Coba

“Our innovative financial technology solutions are designed to empower forward-thinking companies like Coba to tap into large, underserved markets. By integrating our advanced currency exchange and payment solutions with Coba’s cutting-edge AI-driven platforms, we’re not just expanding our reach but creating a seamless, user-friendly experience that opens new opportunities for businesses. Together, we’re setting new standards in financial inclusivity and accessibility, reaffirming our commitment to transform the financial landscape for a brighter, more connected future.”

— Michael Wilson, Managing Director, Monex USA

About the Companies

🏦 Monex USA

Monex USA has provided corporate clients with industry- leading foreign exchange and international payment solutions for over 24 years. Monex USA is part of the wider financial services group controlled by Monex S.A.P.I. de C.V. (formerly Monex S.A.B. de C.V.) (“Monex”), a global investment-grade financial services institution. Founded in 1985, the Monex group is a global financial services organization that services more than 70,000 clients worldwide. In 2022, Monex managed US$ 303 billion in deliverable FX trades and US$11.1 billion worth of assets. Through its subsidiaries, the group offers financial services in key financial centers worldwide throughout North America, Latin America, Europe, and Asia and employs over 2,800 people globally. As part of the Monex Group, Monex USA is headquartered in Washington, DC, with offices in New York City, Beverly Hills, Houston and Miami.

🔗 Visit Monex USA

🌐 Coba

Coba simplifies financial operations for businesses across the US-Mexico corridor with AI-powered infrastructure and use-case-driven integrations. Our programmatic FX engine, paired with human-in-the-loop safeguards, helps mitigate risk and maximize cross-border profitability.

Backed by Y Combinator, Goodwater Capital, and fintech leaders from Coinbase and Remitly, Coba Business equips growing SMBs with enterprise-grade tools and a custom approach tailored to their flow of funds, so they can scale, optimize, and stay focused on growth.

🔗 Visit Coba

The U.S.-Mexico corridor, one of the largest and fastest-growing cross-border financial market, continues to face barriers for individuals seeking better USD access, investment opportunities, and seamless currency conversion. Traditional banks have historically overlooked or restricted access to international clients, leaving companies, freelancers, independent professionals, and investors with limited options.

Through this partnership, Coba and Wallbit eliminate those barriers, offering:

• A USD Virtual Card – Spend online and abroad with ease.
• Earn Up to 4% APY – Let your USD work for you.
• A Personal USD Account protected up to $500,000 – Hold and receive USD effortlessly.
• Seamless USD-MXN Transfers – Now including MXN to USD for the first time. Powered by Coba.

“With Wallbit, we are expanding the available services for anyone in Mexico to hold, spend, and save in USD,” said Carlos Medellín, Coba CEO & Co-Founder. “This partnership is a game-changer for individuals who have been underserved by traditional banks, allowing them to finally manage their finances across borders—without friction.”

“We are very excited to start offering international banking services to professionals across Mexico in partnership with Coba. We know this is a demanding market, and we will work together to provide the best possible experience,” said Rodrigo Vidal, CEO and Co-founder of Wallbit.

Coba is bringing the next evolution in cross-border financial services - by fully streamlining how remote workers in LatAm receive, save and spend their money. Coba gives customers a US deposit account to receive their USD payments as well linked Mexican financial features that allow them to spend locally in pesos.

After completing the YCombinator Summer 2023 Batch, Coba has successfully closed its $2.2 million seed round. In addition to lead investors Alaya Capital and Switch VC, Coba has solidified its position in the fintech landscape with additional investors, including the founding family behind one of the leading B2B forex banks in Mexico, Banco BASE, as well as Topaz, the largest Mexican investor in NuBank.

Alaya Capital’s managing partner, Claudio Barahona, noted that “Coba is reshaping remote work dynamics. By offering a seamless dollar account in the U.S. and enabling users to cover their daily expenses in Mexico through the Coba card and their built-in bank payments, they’re revolutionizing cross-border payments for remote workers. Embracing innovation, Coba is redefining how we manage finances in the global workspace”

Current State and Future Outlook

No other fintech has been able to provide a solution that efficiently bridges the cross-border needs of Latin American remote workers that earn in USD. By partnering with leading financial institutions on both sides of the border, Coba is able to provide a robust ecosystem of services: a US account to deposit USD earnings paired with both USD and local Peso spending Cards. Users can also access local bank transfers - all with no hidden fees and ultra competitive FX rates.

Thanks to Coba, a remote worker in a market, like Mexico, can buy a gallon of milk in pesos, pay a local bill and have those funds instantly and seamlessly draw from their USD account in the US.

Coba aims to grow its community to 5,000 exclusive members, initiate B2B partnerships, and expand their portfolio value-added financial services: insurance, tax, payroll advances and investments.

Founders with Financial and Product Backgrounds

The vision for Coba was born somewhere along the 400 mile stretch of highway I-35 between Austin, Texas and Monterrey, Mexico. Co-founds Joseph Saliba and Eduardo Lopez were discussing the challenges that foreign nationals like Eduardo have faced in accessing US banking. With limited options, those banks that did offer US accounts fell short on offering access and features outside of the US. These frustrations were confirmed in conversations with remote workers across the region.

Joseph and Eduardo teamed up with long-time colleagues Carlos Medellín and Abraham Kuri to bring the Coba vision to life.

About the future opportunities for Coba, Joseph notes, “We believe in the potential of talent across LatAm, and the Nearshoring boom is confirming that US companies share that belief. Global platforms like Deel are doing a fantastic job at solving the HR challenges across borders, but financial infrastructure has not evolved as quickly. Coba is that next step.” Eduardo, for his part, recalls his parents and grandparents having to physically cross the border to open bank accounts in Texas resonates, “thanks to Coba and the rapidly evolving fintech frontier - this won’t be necessary for my son and his generation”.

Remote workers, freelancers, and individuals doing business with US-based companies are in a highly favorable position today. With advancing globalization and increased connectivity, just about anyone can do business with the world on their doorstep. Thanks to modern technology and digital transformation, remote workers in the digital space are now in demand more than ever. More and more skilled Latin American professionals in different business sectors can now provide their services to US and international clients worldwide.

However, as exciting as this sounds, one of Latin American remote workers’ biggest challenges is maximizing and improving their financial health. From earning and saving more, being paid fairly, having access to the right benefits, and enjoying complete financial freedom with peace of mind, many remote professionals can easily find themselves fighting a battle alone.

But, help and hope are never too far away! For remote professionals looking to maximize their earning potential as they build their portfolio of clients both locally and internationally, starting off on the right foot is essential. So, what better way than to begin by opening your very own US dollar account? (Yes, without even having to leave home!)

US Banking for remote workers

Here, we outline how US banking and owning your very own US dollar account can bring long-term financial benefits to remote workers in Latin America.

Earn and save in US dollars

Imagine earning and being paid the same cost unit as your employer. By having access to a US dollar bank account, remote workers based in other countries like Mexico, Brazil, or Colombia can be paid directly in US dollars instead of their home currency. The benefit of being able to save your money in US dollars pays off, especially when considering long-term appreciation and seeing the increase in the value of earned money over time. This means that both earning and saving potential significantly increase you enjoy growing your wealth in dollars, one payment at a time.

No more hidden fees and rates

One of the biggest downsides of getting paid in a foreign currency into your local bank account is all the loss that it brings with it. For example, a contractor or freelancer in Mexico may be invoicing clients in the United States, and, with each and every transaction processed and payment received, substantial amounts of money are lost due to bank commission rates, hidden bank fees, and currency conversion rates (Forex). Worst of all, it is almost always the receiver who will cover the cost of each, single transaction. This results in a huge chunk of money being lost each time a payment is made.

By having your own US dollar bank account as a remote worker, you will be able to avoid all these unnecessary costs by having your client pay you in their local currency, without having to worry about international currency fees. Say goodbye to fees and hello to earning the money you really deserve!

Enjoy US dollar stability

The US dollar continues to be the world’s most dominant reserve currency. About half of international trade is invoiced in dollars, and about half of all international loans and global debt securities are denominated in dollars. In foreign exchange markets, where currencies are traded, dollars are involved in nearly 90% of all transactions. According to investopedia.com, it is the trust and confidence that the world has in the ability of the United States to pay its debts that keeps the dollar as the most redeemable currency for facilitating world commerce.

Dominance and high value lead to stability. When people have easy access to US banking they are able to enjoy the financial stability of earning and saving in US dollars. Instead of turning to other risky methods to maximize wealth like wallets, stablecoin, and crypto, remote workers can rest assured that earning in US dollars is the safest and most stable path to take.

Avoid the impact of inflation and currency devaluation

Inflation usually devalues a currency since it means a money’s buying power is decreased. When countries experience rising inflation rates they tend to also see their currencies weaken relative to other currencies. Sometimes countries purposefully weaken their currencies to increase their competitiveness in global markets as well as for other reasons. However, it is usually the citizens of these countries that are hurt the most as a result.

In countries where economic and currency instability is more common, being able to earn and save in a stronger, more stable currency is an attractive alternative for wealth generation. Remote workers can now avoid this with access to a US dollar bank account and options to transfer dollars into their local currency.

Spend flexibly in the currency of your choice

By earning money in US dollars and having the advantage of US banking options, remote workers in Latin America now have greater control over their money. The benefit here is being able to choose when to use a certain currency or keep earned money in US dollars as a central currency. This leads to flexible spending, better savings outcomes, easy movement, and greater control of money value overall.

Start with your Coba Account!

Whether you’re a seasoned remote worker or you’re just starting out, we want to make sure your experience is one to remember. Everyone deserves to get the most out of their professional careers by maximizing their wealth - remote workers included!

Start by opening your US Dollar bank account, without even having to leave home. You’ll get your very own card, enjoy easy ATM withdrawals in your local currency, and experience instant, international transfers for peace of mind.

Sign up and join our waitlist here.

Remote work doesn’t come without challenges. Individuals such as remote contractors, independent workers, and freelancers aiming to improve their professional and personal lives are faced with challenges as they seek to earn better salaries and improve their financial health.

If you’re a remote worker, you may have already asked some of these questions yourself. How do I earn more than the national average for my position? How do I maximize my earning potential for the skills I bring to the table? Are there better ways to get paid, save and invest my money?

Whether you’re a software engineer, a skilled freelancer, a creative, or someone simply looking to work for an international company (or already working for one), we’ve got good news for you!

Start working for an international company

It’s never been easier to land a job at an international company than it is today. As remote work continues to become the new normal and preferred by many, thousands of companies around the world are hiring skilled professionals beyond borders.

Today, it’s possible to find exciting roles in international companies that aren’t necessarily hiring for local talent. Plenty of startups and small and medium-sized businesses also find international, remote recruiting more cost-effective, especially when hiring contractors and freelancers. The best part of this is that these companies are usually willing to pay way above the national average of countries in Latin America.

Try using social media platforms such as Linkedin and job search spaces like Glassdoor to filter out what you’re looking for. Important keywords that will help you narrow your search include ‘‘remote’’, ‘‘contractor’’, ‘‘freelance’’, among others.

Choose the right employment framework

Some companies are fully set up to hire professionals in different countries as full-time employees under a normal payroll scheme (nomina) because they have their entity set up within the country they are hiring. An example of this is when a US company has offices and operations in Mexico and can legally hire Mexican employees under payroll, usually providing them with law benefits. Other companies that don’t have a legal entity set up within the country they are hiring can still work with an Employer of Record (EOR), a global employment services provider that helps employ people legally in other countries. EORs handle payroll, benefits, taxes, stock options, and local compliance.

If your hiring company isn’t able to provide the above options to have you registered under payroll they can still hire you as a contractor or freelancer. Contractors and freelancers can provide hiring companies services and invoice them bi-weekly, monthly, or per-project basis. For contractors or freelancers to be able to work this way, they need to be registered with their country’s national Tax Administration Service. For Mexican citizens and residents, this can be done through SAT by registering as a ‘‘persona fisica’’ or, natural person, under the new RESICO tax scheme. The RESICO is a new fiscal incorporation scheme that grants lower tax rates and the suspension of some fiscal obligations. Many contractors, freelancers, and remote workers are legally set up under the RESICO scheme and can work for and invoice international companies. Although they do not perceive most state and company benefits that most employees under full-time payroll schemes do, the amount of tax they are obliged to pay is significantly lower.

Ultimately, it’s up to you to choose the best employment framework that will suit you. Before accepting a job offer, be sure to ask your new employer about your employment framework and what you need to be aware of.

Negotiate your compensation & benefits package

No matter how you are officially employed, most companies still offer benefits and perks of some kind. Whether it be medical insurance support, yearly tuition bonuses, or access to a savings fund, be prepared to negotiate your benefits package based on what is most important for you. If you’re about to become a full-time contractor and won’t be formally offered private health insurance, ask to be paid a little more so you can cover that cost on your own accord. Also, consider other favorable, long-term benefits such as PTO, stock options, and bonuses.

Some benefits being offered may not be relevant to you and you can negotiate or ‘‘exchange’’ those benefits for something that better fits what you need. This is something important to bring up before accepting a job offer as a lack of basic benefits can cause you to eventually lose money, instead of maximizing it.

Get your own US Dollar bank account

Remote workers, contractors, and freelancers that are already working for international or US companies get paid in dollars - especially when they are not working under a payroll or EOR employment type. When these professionals get paid into their local bank accounts and currencies, a significant amount of money is lost due to hidden bank fees, service fees, and conversion rates. Many people don’t realize this or don’t give it much thought before accepting a job offer.

You can save a great deal of money by opening your very own US Dollar bank account, without even having to leave home. By having access to a US Dollar bank account, you can protect your money from negative currency exchange rates while avoiding hidden bank transfer costs when being paid internationally.

Por ejemplo, miles de ingenieros de software ubicados en Latinoamérica estan siendo contratados para trabajar directamente con compañías en EUA mientras siguen residiendo en sus países de origen. Esto significa que los trabajadores pueden llegar a ganar más al ser pagados en Dólares Americanos mientras que disfrutan de una calidad de vida superior al promedio en la región, y con costos menores de los que implica EUA, por ejemplo. ¿Quién no tomaría la oportunidad de vivir mejor, sin preocuparte del tráfico cada mañana, y tener mayor flexibilidad para enfocarte en familia o algún otros proyecto personal?

Por asombroso que parezca, se tienen que considerar algunos aspectos crucial de trabajo remoto en un plano internacional que quien sea debe considerar antes de tomar ese gran paso. Es por ello que hemos preparado una serie de puntos que se vuelven parte de la lista a considerar antes de aceptar tu siguiente trabajo remoto e internacional, desde Latinoamérica.

1. Entiende tu oferta de empleo y contrato

Detenidamente lee cada sección en tu oferta de empleo y contrato. Típicamente la oferta de empleo es de los documentos que formalizarán tu interés con la empresa que te quiere contratar. Ese documento se traducirá en detalles que estarán contenidos en tu contrato. Ambos documentos son muy relevantes, y debes revisar bien cada cláusula o sección donde no te sientas cómodo, y para ello es recomendable consultar a expertos para que te puedan asesorar. Las leyes de empleo varían de país a país, y más cuando los esquemas de empleabilidad cambian. Por ejemplo, muchas empresas no están obligadas a pagar paquetes de liquidación (“severance”) dependiendo de las leyes estatales dentro de EUA; esto cambia radicalmente dependiendo de donde estás empleado y por quién. Si eres contratista o trabajando por proyecto, podrías ser liquidado en cuestión de horas, y en función de la estrategia de la empresa. Ambas partes tienen sus derechos, y eso por eso que es importante identificarlos y entenderlos.

Asegura que entiendes cada cláusula antes de tomar una decisión final. Revisa y confirma el esquema de trabajo, ubicación de la compañía, relación entre las partes (podría existir un mediador como un Employer-of-record), beneficios y compensación en general. Lo más relevante es entender que implica trabajar para esta organización y que todo esté claro.

2. Evalúa tu paquete de beneficios

Una parte importante en tu contrato será acerca de los beneficios. Los paquetes de beneficios serán diferentes de compañía a compañía asío que es una buena iniciativa tomar un paso anticipado y entender el contexto de los beneficios y lo que implican tanto económicamente, como personalmente, independientemente del tipo de esquema de contratación en el que estarás. Considera negociar beneficios como PTO (paid-time off, en EUA), vacationes, tus bonos de temporada (aguinaldo en México, por ejemplo), apoyo médico o seguro de gasto médicos, y cualquier otro beneficio extra que cubra tu dinámica de trabajo remoto, acceso a tutoriales hasta otros elementos que podrían venir en compañías de alto riesgo, tales como acciones, equity, entre otros.

Asegúrate de que los beneficios más importante para ti, son parte del contrato laboral y se adaptan a tus condiciones como a tu región.

3. Obtén asesoría legal y fiscal

De los elementos más estresantes e incluso frustrantes al trabajar remoto, especialmente si eres contratista o freelancer, es estar legalmente trabajando dentro de territorio foráneo al de la empresa, y tener cobertura de lo que conlleva de manera legal y fiscal. Las leyes laborales y fiscales cambium de país a país (y enfrentan cambios constantes), y debe ser responsabilidad del trabajador o empleado lo que implica cubrir con los requerimientos nacionales para no incurrir en ningún inconveniente o que procesos que dan acceso a otros vehículos sean frenados por algunar razón. La mejor manera de tener cobertura sobre estos temas es encontrar a un contador profesional con conocimientos en tu país de residencia, así como con conocimientos sobre relaciones internacionales para que no exista lugar a duda sobre tu paradero con la empresa internacional. Por ejemplo, en el caso de México, tendrías que estar registrado en SAT (“Hacienda”) y dependiendo del esquema de empleo, es el tipo de régimen a utilizar. En el caso de trabajadores remotos, el esquema más usado es RESICO, el cuál adquieire más popularidad, pero tiene sus implicaciones y reglas para pagar menos de 3% de impuestos sobre tus ganancias como trabajador remoto.

Lo mejor de ser un trabajador remoto e international es que no recaen responsabilidades sobre el empleado internacional en territorio de EUA (si la empresa estuviera establecida ahí). Sólo sería necesario que firmes la forma W-8 para notificar tu estatus ante EUA, haciendo saber que todas las implicaciones fiscales serán cubiertas donde resides actualmente.

4. Prepara tu espacio de trabajo

Asegúrate que has planedo cómo trabajar de manera remota (especialmente, si no has trabajado remotamente antes). Esto incluye, tener un espacio dedicado que te perimitrá producir la mejor calidad en lo que entregues con mínima distracción. Algunas personas encuentran esa producitividad desde su hogar, mientras otras preferirán trabajar en un espacio compartido o desde un café. Considera otros aspectos, como la conectividad y estabilidad del internet — muy importante en Latinoamérica! — y tener un espacio adecuado para llamadas o simplemente concentrarse.

Establece una rutina de mañana para empezar con mucho enfoque y de manera positiva. Ejercitarse por un promedio de 45 minutos, meditar o leer algo que te inspire generará la energía positiva que requieres como trabajador remoto.

5. Entiende cómo te pagarán

Sabes cómo y cuando serás pagado es el derecho del empleado. A pesar de que esto debe ser establecido en tu contrato, parecería trivial, pero has las preguntas necesarias para entender el contexto completo de esto ya que el dinero vendrá de EUA hacia el país donde te encuentras. Parte de entender esto implica el proceso: frecuencias, divisa en la que recibirás dinero, quien manejará las transacciones o requerimientos adicionales que deberás estar concretados previo a tu primer pago.

Algunas preguntas a considerar, tanto individualmente como para extender a tu future empleador:

• Seré paga de manera semanal? Quincenal? Mensual?
• En qué divisa me pagarán?
• Seré pagado a través de una institución bancaria?
• Se utilizará alguna herramienta para poderme pagar en dólares?
• Cuanto es el tiempo y cargos que implicaría ganar en dólares?

Consider que mientras más instituciones forman parte del proceso de pago, menos dinero podrías ver en tu bolsillo. Mientras más sencillo para la empresa y para el empleado, mucho mejor para todas las partes y menos fricción en que tu empleador se adapte al proceso que requieres para seguir motivado.

Recibe tu salario en Dólares Americanos!

Seas un trabajadore remoto con mucha experiencia o vas empezando tu carrera, queremos asegurar que tu experiencia sea memorable. Todos merecen obtener el máximo provecho de su camino profesional optimizando sus finanzas y patriomonio - incluyendo a los trabajdores remotos.

Empieza por abrir un cuenta en dólares americanos, desde donde sea — sin tener que dejar la comodidad de tu hogar. Ten acceso a tu propia tarjeta, acceso práctico a cajeros automáticos en tu divisa local, y vive beneficios jamás antes ofrecidos para el talento remoto de Latinoamérica.

Empieza a utilizar los servicios de Coba aquí.

For example, thousands of Latin American software developers and programmers are being hired to work for US companies while residing in their home countries. This means they get to earn more by being paid in dollars while enjoying the luxury of living in their less costly home country. Who wouldn’t jump at the opportunity to make a better living, not having to worry about commuting, and having more flexibility to focus on family or a beloved side project?

As awesome as this seems, there are some crucial aspects of international, remote working that everyone needs to consider before taking the big step. So, we’re providing you the ultimate checklist to use and consider before accepting your next, international remote job.

1. Review your job offer & contract

Carefully read each section of your job offer and contract. If you come across any clause or area you don’t feel you understand, it’s best to consult with someone who does. Labor laws vary by country and employment type. For example, many companies in certain US states aren’t obliged to pay severance packages while companies in Mexico are. If you’re a contractor or someone working on a per-project basis you may be terminated with little to no notice. Both parties have rights and it’s important to be well aware of them.

Make sure you’re aware of each clause in your contract before making a final decision. Look out for important information about your employment type (contract, per-project, full-time, etc), hiring company location, benefits packages, and whether there is any local entity such as an Employer of Record (EOR) involved in your hiring process and HR management.

2. Assess your benefits package

An important part of your contract will be about benefits. Benefits packages differ from company to company so it’s wise to make sure that you are fully aware of what benefits you will be eligible for as an employee, regardless of your employment status and type. Look out for benefits that include PTO, vacations, Christmas bonuses (aguinaldo), medical aid, and any extra allowances such as profit sharing, educational bonuses, and a home office setup allowance. Some companies offer a wide range of benefits while others may just include one or two.

Make sure that the benefits most important to you are part of the job contract.

3. Get legal & taxing assistance

One of the most daunting and stressful parts of remote working, especially if you’re a contractor or freelancer, is being set up legally while understanding taxing and fiscal compliance. Labor and fiscal laws differ from country to country (and go through frequent changes) and it’s important to know where you stand, what you can do, and what you cannot do as an international, remote worker. The best way to get set up is to find accounting and tax support from a local CPA (Certified public accountant) and, in the case of contractors or freelancers, being legally authorized by your country’s internal revenue service to invoice and do business with your customers. If you’re based in Mexico, you’ll need to be set up with SAT (The National Treasury of Mexico) as a ‘‘persona fisica’’ and register your fiscal residence while being on top of monthly and yearly tax reporting. Once again, you can hire a CPA to help with this.

The best thing about being an international, remote worker is that you don’t have to be fiscally compliant when doing business with US companies. You’ll only be required to do your tax reporting and sign a W-8 form while in your own country of residence.

4. Set up a healthy workspace

Be sure you have planned out your remote work setup (especially if you haven’t worked remotely before). This includes setting up a workspace that will allow you to get your best work done, with minimal or no distraction. Some people find it best to literally work from home, while others perform better at a coffee shop or coworking space. Consider other aspects such as internet connectivity and having a comfortable workspace, too.

Set up a morning routine to jumpstart your productivity. A 45-minute workout, meditation, or reading something that motivates you will give you the positive energy you need as a remote worker.

5. Understand how you’ll be paid

Knowing when and how you’ll be paid is every team member’s right. Even though this should be specifically outlined in your contract, it’s important to understand the full context of being paid internationally. This includes all aspects of payroll, currency, and the platforms or setups through which your employer will be paying you.

Some helpful questions for you to consider:

Will I be paid on a weekly, bi-weekly, or monthly basis?
What currency will I be paid in?
Will I be paid the traditional way, by wire transfer directly into my local bank account or, will my employer be using other payment transfer tools?

If it’s the former, you’ll need to calculate how much money you’ll be taking home after currency conversion fees, transfer fees, and hidden bank fees. If it’s the latter, make sure it’s safe and convenient for you.

Get paid in US Dollars, the Coba way!

Whether you’re a seasoned remote worker or you’re just starting out, we want to make sure your experience is one to remember. Everyone deserves to get the most out of their professional careers by maximizing their wealth - remote workers included!

Start out by opening your US Dollar bank account, without even having to leave home. You’ll get your very own card, enjoy easy ATM withdrawals in your local currency, and experience instant, international transfers for peace of mind.

Sign up and join our waitlist here.

Over the last few years, the number of people around the world working remotely has increased significantly and the number keeps growing. According to Forbes, 25% of all professional jobs in North America will be remote by the end of 2022. Just go to Linkedin’s job posting section, add in the ‘‘remote’’ filter and you’ll get a good idea of how remote work is getting more and more traction as we speak. Remote work doesn’t come without challenges. Communication, efficiency, productivity, and security are all buzz topics heavily related to the future of work for companies, large and small. But, challenges don’t only apply to hiring companies. Individuals such as remote contractors, independent workers, and freelancers looking to improve both their professional and personal lives are also faced with challenges as they look to earn better salaries and improve their overall financial health.

Remote workers in countries like Mexico, and others in Latin America, looking to maximize their earnings come across a wide range of different financial challenges. If you’re a remote worker, you may have already asked some of these questions yourself. How do I earn more than the low-paid national average for my position? Can I really get a job for an international company without having to move? How do I not only land an attractive job position I love but also enjoy the benefits I need? Most importantly, how do I maximize my earning potential for the skills I bring to the table?

Whether you’re a software engineer, a skilled freelancer, a creative, or someone simply looking to work for an international company (or already working for one), we’ve got good news for you! Here are 3 ways you can start growing your wealth, maximize your earnings and be in control of your financial future as you work remotely.

Find a job at a company hiring remotely

Covid really wreaked havoc around the world, but not everything Covid did or caused was necessarily bad. During these post-pandemic times, hundreds of thousands of companies of all sizes have turned to both hybrid and remote work models. The benefits of this are both reduced costs for companies and, well, happier employees!

Today, it’s easier than ever before to find attractive remote job opportunities - even from companies in other countries such as the US, Canada, and Europe. Here, the most important first steps you’ll have to take are updating your resume and making sure it’s available in English. Next, make use of international job portals that showcase remote jobs around the world (Doing a simple search on Google will do the trick). Linkedin is another great way to do a job search by filtering out what you’re looking for.

Using Linkedin’s job search options, you can filter out the type of job role you’re looking for, select the ‘‘remote’’ filter option, and even choose to add specific companies to your job search ‘‘hitlist.’’

Once you find an international, remote job, the chances you’ll be earning above the average salary for your position in your own country is almost certain. For example, many US companies hiring remotely offer attractive salaries (by paying in US dollars) to employees located in countries like Mexico. Although you still won’t be earning the exact same salary that an American would be earning in the US, you will be earning above your own national average which makes it all worth the while.

Open and own a real USD bank account

Another way remote workers in Mexico can maximize their earnings is by opening a real USD bank account. This sounds too good to be true. A few years ago (or maybe even months) this wasn’t possible, but with Fintech just being so awesome, it now is!

No, you don’t have to go to Texas or anywhere else in the States to open your account. And you don’t have to figure out how to do it yourself. There are low-fee options and solutions that help you get your account set up in just a few minutes.

Owning a USD bank account means that your money is safe and protected from harsh currency conversion rates. Plus, you don’t have to worry about your bank thumping you with huge, hidden commissions every time you receive an international payment. This is all possible simply because the dollars you’ll be earning won’t be converted into Mexican pesos, meaning you’ll save much, much more every time you get paid.

Check out Coba’s USD bank account offer here.

Find a career & finance partner you can trust

Going remote and the journey that comes with it is exciting, but it doesn’t come without its headaches, doubts, and concerns. It’s important that you’re on top of all things legal, that you understand what your employment framework looks like (Some people are freelancers and contractors, while others get a full-time job offer), and that you’re aware of how to manage your own taxes.

What about benefits such as health plans and options to invest your money? Most contractors, freelancers, and employees working remotely for international companies don’t always consider the importance of these and the implications of one not having access to them. Remember, a good salary isn’t the only thing you should be looking out for.

The great news is that today, with the rise and triumph of the remote worker, employees of record (EOR’s) and other human resource partners are able to provide some of these solutions, giving the remote worker peace of mind.

So, what did Covid actually improve? We’d like to use the word ‘‘boost’’ for what we’re about to jump into.

Remote work - before and now

Believe it or not, remote work was actually a thing before Covid was the new nasty kid on the block. According to Pew Research, ‘‘Nearly two years into the COVID-19 pandemic, roughly six-in-ten U.S. workers who say their jobs can mainly be done from home (59%) are working from home all or most of the time.’’ Before the pandemic hit the world, a mere 3% of the population was working remotely. After WHO declared the COVID-19 pandemic in March 2020, the percentage of remote workers increased to 20-30%.

This is now a global phenomenon, and although we’re going to continue diving into statistics here, remote work has definitely seen a boost all around the world.

This has also led to an incredible increase in talent around the world landing remote jobs for companies outside their home country. Geographical boundaries no longer have a stronghold on work limitations and job placement. This is especially the case for people in the tech space. US companies are now offering exciting remote work opportunities to tech-savvy individuals all over Latin America, with countries like Mexico being a hot-spot breeding ground for the very best tech talent to be found.

So, why are US companies looking for skilled tech talent (such as software developers) beyond borders? Here, we give you three easy-to-digest answers to that question, and if you’re a software developer yourself, how you can start your remote work journey on the right foot.