- For Companies
- Payments
How does Horizons handle currency conversion or foreign exchange rates?
Horizons is committed to offering efficient and cost-effective global payroll services. When you fund your global team in your chosen currency, we handle the process of converting and paying employees or contractors in their local currency.
What exchange rate will I receive on my invoice?
Exchange rates can fluctuate daily. To make your experience as transparent as possible, we incorporate a forward rate into your invoice. This rate considers the exchange rate on the day the invoice is sent (typically around the 6th of each month) and when your team members receive their salaries in their respective countries (usually on the last business day of the month). This way, you won't face unexpected surprises due to rate changes.
For instance, if the USD/GBP exchange rate on the 6th is (x) and shifts to (y) by the 30th, the exchange rate we apply on your invoice will factor in the average over those twenty days, accommodating any rate changes.
Where is the exchange rate coming from?
We collaborate with leading global banks and payment processors to provide you with market-leading exchange rates. In line with our commitment to transparency, the final FX rate applied will be stated on your monthly invoice.
What fees will be applied to my invoice payment?
Bank/Wire Transfer: You are responsible for any fees charged by your bank when initiating the wire transfer. Horizons does not charge any additional fees for receiving payments.
Credit/Debit Card: A 4% processing charge applies.
Direct Debit (SEPA or ACH): We are actively exploring a variety of payment methods beyond the traditional options and will share the fee structure as these services become available.
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