How To Reimburse Overseas Employees
Let’s assume that you have a remote company with teams spread across 10 countries. On a daily and weekly basis, your employees make payments for work-related stuff.
It could be a conference they’re attending to better their knowledge at work. Or a meeting with a client you’ve asked them to attend. When your team makes payments for such work-related stuff, your responsibility as a remote company is to reimburse them for their expenditure, thus if you have a reimbursement policy.
The question is, how do you reimburse your remote team? Which payment methods do you use after your remote employees send reimbursement requests?
In this guide, we’ll take you through how to reimburse your remote employees using RemoteTeam and a payment option of your choice, including Payoneer, Transferwise, or through ACH payments.
Reimburse remote employees using Transferwise
Thanks to the seamless integration with Transferwise, managing expenses, and reimbursing your remote employees inside the RemoteTeam platform is easy. The app allows you to see all reimbursement requests from your employees and make payments using Transferwise. Here’s how to reimburse your employees through Transferwise.
- After logging into your RemoteTeam Dashboard, go to the “Reimbursements” section on the left of your window. If you haven’t installed it, you can head over to the “Apps” section, scroll down, and locate the “Reimbursement” app for installation. This is where you see all the reimbursements of employees.
- In the reimbursement pane, you can approve an employee’s request after checking the amount, the currency, and the type of expenses.
- Once approved, the reimbursement amount will be added to your payroll.
- If there are unpaid salaries, the reimbursement amount will be added to make the total payout so that you can pay for everything together. However, if there are no arrears on the company’s part, the reimbursement will automatically become due.
- You can then request your employees to add their Transferwise borderless account details – and you can pay them.
Reimbursing remote employees using Payoneer
- After approving the reimbursement request from your employee, the amount will be automatically added to your payroll.
- You can now reimburse your employees by running your payroll and selecting Payoneer as your payment method.
- To do this, you have to request your remote employees to add their Payoneer international account details.
- You can then run your payroll, where your reimbursement amount will be added to any payments due and sent out to your employee.
Reimburse remote workers through ACH payments
The ACH payments integration allows you to reimburse your remote employees using your local bank accounts. This applies to US companies and allows you to send payments to about 220 different locations.
- For those remote companies that don’t have borderless accounts like Transferwise or Payoneer, you can make payments from your bank account to a remote employee’s bank account using our ACH payments integration. To reimburse your remote employees through ACH payments, this is what you have to do:
- Request your employee’s local bank details, which they will provide through RemoteTeam.
- RemoteTeam will use your bank details and your employees’ bank details to set up your ACH payments.
- You’ can now reimburse employees directly from your local bank account.
Conclusion
Reimbursing your remote employees shouldn’t be difficult. With our suite of tools, you can choose to reimburse your remote employees through the Transferwise borderless account or Payoneer. You can also use our ACH payments integration feature to reimburse your remote team through your local bank account.
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