A Trinidadian friend who has been helping behind the scenes with MFO is looking for a bit of guidance. He's resident in Trinidad, thinking about spending an extended period in England, writing for a Canadian firm which wants to pay him in US dollars through an American PayPal account. It all seems remarkably global to me. Give or take my curiosity about the underlying arrangement, since he presumably gets dinked 3% or whatever in PayPal fees (they transfer $100, he gets $97), he's trying to figure out how to access the money.
His thought was that he'd need to establish a US bank account or perhaps a US brokerage account (say Scottrade), into which his PayPal money might be moved. He found one site that promises to set up US accounts for non-US residents but, having read the site, I'm deeply skeptical. Deeply.
Any guidance for the wise and global about how to work through this challenge? I'll go check Scottrade (my brokerage) as soon as I can, but it's all new to me and I'd hate to misguide any friend.
Take care and thanks!