DADA has a few different ways of allowing you to get paid. A few things to note with DADA are that you’re paid in RMB and that amount is then converted to your local currently. China is quite strict about NOT allowing money to leave the country, so this is why DADA pays in RMB (the Chinese currency) and then converts it to your local currency.
I’m not sure why they don’t adopt a a pay standard like VIPKID and just pay their teachers in dollars, but perhaps is has to due with them allowing teachers from multiple countries to work for them and not simply restrict teachers from only North America as VIPKID does.
Here are your payment options with DADA:
Let’s cover a few options you have for accepting payment from your time teaching with DADA. Let’s cover a few key things that teachers and prospective DADA teachers need to know:
- You will be paid for all contracted hours, even hours where you did not teach known as paid contracted non teaching hours or hours where the student was absent.
- Payment is made monthly on the 15th. Depending on how you accept payment, it could take a few days beyond this to receive your monthly compensation.
- Trial classes have a 7$ bonus upon successful conversion!
- 100$ teacher referral bonus.
How to get paid with DADA:
1- PayPal – The easy option
DADA allows payment of your compensation through PayPal. This is one of the of the worst options for a few different reasons. First, PayPal imposes a 4.4% fee conversion fee and then a .30 cent transaction charge. PayPal is fine if you’re not going to be teaching a lot of hours, but if you plan on doing more than 15 hours a week, PayPal will be more expensive than doing a bank transfer.
Another additional issue with PayPal is that since RMB is restricted on leaving the country, your pay has to be converted into US dollars FIRST. This is fine if you’re American, but if you’re South African or English, that USD will have to be converted again. Cutting into your monthly compensation.
2 – Bank Transfer – The standard option
Most online teaching companies pay by way of a bank transfer. DADA issues bank transfers using World Pay. World Pay at the time of publishing this currently charges a $7 fee on transfers. Please check with your bank to see if they charge you any fees as well for international transfers.
3 – WeChat Pay – For Teachers Based Outside The US or UK
WeChat is an all encompassing app in China. It’s part messaging platform and part payment platform. It’s what Chinese use day to day as an online wallet to pay for everyday transactions. As such, you could accept payment through WeChat Pay. This is ideal if you’re an expat.
4 – Transferwise – BEST Option For DADA
Because DADA does not cover international transfer fees like VIPKID does and the fact that PayPal is to aggressive with fees. Transferwise is that perfect middle ground for all your international bank transfer needs.
Transferwise simply gives you the current conversion market rate for transfers. Meaning you’ll get a better rate using Transferwise to transfer money than you would a bank. They also have the lowest fees in the industry.
So If you’ve been wondering how you could say, transfer money from the US to a foreign bank account, your best option is Transferwise. I use Transferwise whenever I’m living abroad. I open a local bank account then use Transferwise to send money from the US so I can pay for living expenses.
For DADA teachers, you can simply use Transferwise to send your money to any bank account anywhere in the world. I’ve meet numerous DADA teachers in Vietnam for example who transfered their pay to their local bank account in Vietnam.
With Transferwise, you have flexibility and options.
How To Use Transferwise For DADA Payment
With DADA, you’ll need to go through their internal support to update your payment options. If you’re wanting your payment details to be updated by the 15th, make sure to get in touch with them at least before the 5th of the month.
Next, to receive the actual payment you’ll need to create an account with Transferwise and enable their “boarderless account” option. The boarderless account allows you to accept payments from DADA. Once you receive your payment from DADA, all you have to do is add a bank account to your Transferwise account and simply transfer the balance over.
The information DADA will need in order to send money to your boarderless account is this:
Preferred Currency: USD
Bank Name: Community Federal Savings Bank
Bank Address: TransferWise
19 W 24th Street
United States of America
Receiver Name: TRANSFERWISE FBO – FIRST NAME / LAST NAME
Account Number: (Your account number)
Bank Holder Address: (Your home address – it should match what you used for Transferwise)
ACH/ABA Routing Number: 026073150
As always, please double check everything. Also, you MUST put “Transferwise FBO” before your name because it’s going to a Transferwise holding account.
Conclusion – Getting Paid With DADA
So there you have it, those are your different options for getting paid by DADA. If you’re an American living in America then it’s ideal to use Transferwise if your institution charges you for international transactions. If not, then consider a standard bank transfer. For everyone else outside of America, Transferwise is the obvious solution.