What are the fees and costs for contractor payouts?

We work with several payout providers worldwide to pay contractors in the fastest and most affordable way.

Same Currency, Local Currency Payouts

If the currency of the client and contractor are the same, and the payout uses a local payout, there is no fee for the contractor, and they will receive the total amount that they invoice.

International & Cross-Border Payments

If the client’s billing currency and the contractor’s payout currency differ, who covers FX fees and transaction costs depends on the setup. If the payment is in the contractor’s currency and paid to a matching local bank account, the client covers FX fees and transaction costs so the contractor receives the guaranteed target amount. If the payment is in the company’s currency and the contractor withdraws in a different currency, the contractor covers the FX fees and transaction costs from the funded amount. We only pass on the amount that our payment provider charges.

Same Currency, Non-Local Payments

If your contractor requests a non-local currency payout, for example, USD, to a non-US-based bank account, this is known as a SWIFT payment, which is typically more expensive. Apart from the SWIFT fee our payment provider will assess, there may be added correspondent bank fees ranging from $20 to $50 which are often applied when the funds land in the contractor's bank account; these fees are outside our control.

The exchange rate we offer is determined at the time of invoice creation. This is where the contractor chooses the invoice currency as well as the currency in which they would like to receive the funds.

See also: Contractor invoicing currency and guaranteed payouts