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.

Transaction & FX Conversion Fees

Same Currency, Local Currency Payouts

If the currency of the employer 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 currency of the employer and the contractor differ, the contractor will pay the FX fees and transaction costs to convert from the employer's currency to theirs. For example, if a company has USD as its billing currency and pays a contractor in GBP, the contractor will pay the FX fees and transaction costs to convert USD to GBP. 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.

When is the FX rate guaranteed?

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