Exchange Rate And Wire Fees

This article covers how Horizons manages exchange rates and fees for wire payments. 

Fund your global team in your chosen currency, and Horizons will pay employees or contractors in their local currency. We support over 120 currencies, making global payroll payments a seamless experience for you.

What exchange rate will I receive?

As exchange rates often vary, we've factored this into your invoice. We account for the exchange rate on the day the invoice is sent (usually the 20th of each month) and when your employees' salaries are distributed in their hiring country (usually the last business day of each month).

This is referred to as the Forward Rate, which is integrated into your invoice. By doing so, we aim to eliminate any unforeseen suprises on your side.

Example: The USD/GBP exchange rate on the 20th of the month was (x), but on the 30th it changed to (y).

In such a case, the applied rate accounts for the ten days between the 20th and the 30th, accommodating the fluctuation in the exchange rate.

Where is the exchange rate coming from?

By partnering with leading global payment processors, we provide market-leading exchange rates to mitigate the exposure of our clients to currency fluctuations. Our objective has always been to remove employment barriers worldwide. That's why we ensure an efficient and cost-effective experience.

Emphasising full transparency, we publicly share our exchange rates here.

What fees will be applied to my invoice payment?

The Fees charged by providers will vary based on the chosen method and may change depending on the different payment processors we work with.

Bank/Wire Transfer: $5 USD

Credit/Debit Card: Launching soon!

Direct Debit: Launching soon!

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