Who bears the cost of any transfer fees or currency exchange rate differences?

Remote uses Wise (formerly TransferWise) for payouts to contractors. If your billing currency is different from the currency the contractor chooses to get paid in, Remote uses the TransferWise exchange rate for the conversion. Because we do not charge our customers for service fees or exchange rate differences, the contractor bears these costs if applicable. These costs are typically very low but if you want to provide a buffer for your contractors, you can add a very small payment to their invoice to cover these potential costs.