Train the Trainer Part 5: Analytics
Please note: the information outlined in this article is for Embodia Instructors only.
Important information about payments and currencies
Embodia is a Canadian company. While there are some instructors that opt to charge in US Dollars, the majority of our courses are in Canadian Dollars (CAD) and thus your revenue from the sales of your courses will be in CAD. Non-Canadian instructors probably don’t own a bank account in CAD, so in order for your revenue to be deposited in your bank account, the bank, either the originating bank (i.e. Embodia’s bank) or the destination bank (i.e. your bank) will need to do a currency conversion for which they take an additional fee (roughly between 2 to 3% of the transfer amount).
You can opt-in to use an online service called Transferwise (www.transferwise.com) that can significantly reduce loss in revenue due to bank fees. This service is completely safe for payment transfer as the payment will be deposited directly into your local bank account (usually within a day or two from the date of the transfer).
The table below is an example that summarizes the fees for a traditional bank compared to Transferwise for 3 different CAD amounts being transferred to a USD account. Please bear in mind that these amounts are for illustration purposes since the fees constantly change as the exchange rate of different currencies changes.
You can opt-in to use an online service called Transferwise (www.transferwise.com) that can significantly reduce loss in revenue due to bank fees. This service is completely safe for payment transfer as the payment will be deposited directly into your local bank account (usually within a day or two from the date of the transfer).
The table below is an example that summarizes the fees for a traditional bank compared to Transferwise for 3 different CAD amounts being transferred to a USD account. Please bear in mind that these amounts are for illustration purposes since the fees constantly change as the exchange rate of different currencies changes.
Set your payment preferences
Log in to your account on Embodia and go to Education > My courses > Instructors.
Click on your instructor name (you can have multiple instructor accounts) and go to Payment preference and click Add my payment preference:
Select your preferred payment method:
The methods of payment available are:
- Wire transfer using a traditional bank: for this, you would need to provide us with your personal and bank information.
- Wire transfer using Transferwise: for this, you would need to provide us with an email address. Once a payment is issued from Transferwise, you will receive an email from Transferwise instructing you to provide your bank details.
- Paypal: for this, you will need to provide us with the email address associated with your PayPal account.
- For Canadian instructors only, Interac e-transfer: you will need to provide us with an email address.