Paying Overseas Staff

Paying Overseas Staff:
Exchange Rates and Fees

It is now common to have staff on an international payroll, from a single remote worker to several employees working overseas from an international office. Managing exchange rate fluctuations and transaction fees can become a challenge whilst making regular international payments to overseas staff. As a specialist foreign exchange broker, NewbridgeFX can reduce the costs and risks of making large and regular international payroll payments by using our foreign exchange products, online platform and utilising the extensive knowledge and experience of our foreign exchange specialists.

Paying Overseas Staff

Bulk Payments:
Online Platform

Speak to a foreign exchange specialist at NewbridgeFX to discuss how we can improve your international payroll processing. 

Bulk Payments

Our online platform gives you the capability to make bulk payments using entries from a supplied CSV template file that contain your payment instructions, existing beneficiaries, payments to new beneficiaries, and the currencies that need to be converted.

Bulk Beneficiary Management

Bulk upload all your recipient details to our online platform via one CSV file. The file is validated to ensure the format is correct and you are notified by email once this is complete.

Track

View the history and status of bulk uploaded CSV files and check all payment activity and their status via the online platform.

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Paying Overseas Staff
Paying Overseas Staff

Fast & Secure:
Payroll Payments

Our clients are provided with access to our secure online platform that is used to collect, convert, pay and manage your payroll payments. The service is regulated by the FCA to provide complete security.

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Payroll Payments Overview

Real-time reporting and tracking is provided for international payroll payments and currency conversions allowing to verify that payments have been made on time.

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Same Day Payroll Payments

You can send payroll payments 24/7 to over 200 countries using our secure online platform. Payroll payments using major currencies usually clear within minutes or next day for other currencies.

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Multi Currencies

Your account can hold multiple currencies allowing you to pay overseas staff in several countries and you have the ability to view multi-currency balances within the online platform.

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Reduce Payroll Costs

We can reduce your payroll costs with no transaction fees and a range of foreign exchange products that mitigate the risk of currency fluctuations to make international payments.

FAQ:
International Payroll

Answer

Yes, you can pay staff overseas using the spot rate on the day you want to process the payment. Or, you can secure an exchange rate using a forward contract for settlement at a future date. Once the transaction settles, and the currency is available you can use this to make payments overseas. 

Answer

Yes, our CSV file templates enable you to enter any country code, and any currency code we offer. So, using one file you can make payments to different countries and currencies. 

Answer

Yes, the online platform is the most efficient way to process payments in bulk. Our staff are also available to guide you through the platform or to book the transactions on your behalf.

Answer

You should consult with a specialist international tax consultant on his, and other employee-related questions. 

Products:
Manage Risk

NewbridgeFX offers a specialist service in the deliverable foreign exchange market, promoting a range of products and services, available online or over the phone. Our products have been designed to meet the needs of our clients. A lot of these products are ways for businesses, and individuals, to manage and mitigate currency risk, and are used frequently during times of increased volatility. Alongside up to date foreign exchange related market news, which works in tandem with our range of products. 

Spot Contract

Lock in an exchange rate for immediate onward settlement. Funds can be received the same day.

Forward Contract

Lock in an exchange rate today, but for settlement at a later date that suits you, up to 12 months in the future.

Market Order

We monitor the markets real time and take action to trade between currencies when your desired rate is achieved.

Rate Alerts

Set an alert for phone or email notification when an exchange rate has be achieved to take advantage at the best time.

Benefits:
NewbridgeFX

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Multi-Currency Account In Your Company Name

Receive funds from your customers in to your own named collection account, using one account number for all currencies, or a local in-country account number still in your company name.

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Create And Manage All Your Beneficiaries

Add and manage your beneficiaries, perform bank account validation & verification checks as you enter your beneficiary details & bulk upload multiple beneficiaries via a CSV file.

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Make Fast & Secure Payments To Over 200 Countries

Real time Swift and local payments are settled the same day, within minutes (currency/country dependant) and payment tracking capabilities allow you to keep updated on the payment status.

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Multi-Currency Balances

Hold multiple currencies and access balance information in supported currencies. Receive, convert, send and move money between your multi-currency accounts without making payments.

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Convert Over 45 Currencies, 24/7, Using Multiple Devices

We provide informative, up to date market news, including updates on currency movements, upcoming economic events and announcements that can impact the foreign exchange market.

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Real-time Reporting And Tracking

View and track all conversions, payments and incoming funds using our online platform and receive email notifications when funds received, conversions processed and payments released.

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