Finance

The Remote Year Payment Policies contain important information about participating in a Remote Year program. If you have not already reviewed them, please do so during your Onboarding period.

When is my next down payment installment due and how do I pay it?

Your non-refundable and non-transferable down payment is due upon commitment to Remote Year.

If you opt to pay your down payment via payment plan, $1,000 will be charged at the time of purchase and the remainder will be collected in two installments ($1,000 each for 4-month programs, $1,250 for 4-month peak programs, or $2,000 each for 12-month programs). The second installment will be charged on the last day of the month following the month of your initial payment, and the third installment will be charged on the last day of the next month. Notwithstanding, the full down payment must be paid by 60 days prior to the launch of the program, so any remaining payments will be charged 60 days prior to launch.

When will I receive my first bill for my Remote Year program?

Your monthly payment is due on the first of each month, starting the first month of your program. For example, if your program’s first full month is January, with an Arrival Day of December 30, your your first payment would be due on January 1. Or, if your program’s first full month is March, with an Arrival Day of March 3, your first payment would be due on March 1. You’ll receive an email from the Remote Year Finance Team (payments@remoteyear.com) at least one week before your Arrival Day with instructions for setting up your billing account.

How do I pay my monthly Remote Year bill?

For 4- and 12-month programs, monthly invoices are sent out via email on the 21st of each month (or the following business day if the 21st falls over a weekend) and due the 1st of the following month. Remote Year accepts payment from participants in accordance with the following:

• ACH Transfer—via the Bill.com Remote Year portal for US based banks only
• TransferWise—international bank transfers through TransferWise (in coordination with payments@remoteyear.com)
• Debit card and credit card—via PayPal through the Bill.com Remote Year portal

Please note that monthly payments made by participants via Paypal are subject to an applicable convenience fee (typically around 3%). For participants that can reasonably prove that they do not have a US-based bank account, Remote Year will refund the convenience fee, however, participants will be subject to any applicable international transaction and currency conversion fees.

What is and isn’t included in the cost of Remote Year?

Included—accommodations in cities on your Remote Year itinerary, airfare and / or ground transportation while on a program in connection with your Remote Year itinerary (including transportation to and from airports), 24/7 access to workspace, certain activities and events which are planned at Remote Year’s discretion, and support from local and traveling staff.

Not included—passport, visa and permit expenses, travel insurance, medical expenses and immunizations, transportation to initial destination and from final destination, personal expenses such as food and beverage (alcoholic or otherwise), laundry, telephone calls, SIM cards, additional activities and events, and any other items not specifically noted as included.

What is the average amount of money Remotes spend outside of their Remote Year fee?

This amount varies widely based on Remote’s personal budgets. We strongly suggest setting a budget for yourself before departing on Remote Year, or at least thinking intentionally about what you’d like to spend money on—is it more important for you to do epic side trips or would you rather splurge on nice meals in every city? No one’s budget is going to look the same, so try to stay true to what you want to get out of your Remote Year experience.

As for actual facts and figures, an average amount we hear from our Remotes is that they’re spending at least $1,000 / month outside of their Remote Year fees. Of course, there are Remotes who spend much less than that, and Remotes who spend much more. A helpful blog series that provides additional insight into the idea of budgeting for Remote Year can be read here: Part I, Part II and Part III.