Contractor Payment Fees and Currencies

The total cost of a contractor payment and the amount ultimately received by the contractor may be affected by RemoFirst service fees, payment-provider charges, bank fees, and foreign-exchange conversion.

Review the current invoice and payment details carefully before funding a payment.

Understanding the currencies

A contractor payment may involve three different currencies:

• Contract currency: The currency agreed with the contractor and recorded in the contractor agreement.
• Invoice currency: The currency in which the client is instructed to fund RemoFirst.
• Receiving currency: The currency supported by the contractor’s selected withdrawal method.

These currencies may differ. Changing one currency does not automatically change the others.

For example, changing the contractor’s receiving currency does not change the contract currency or the client’s invoice currency.

Types of charges

Depending on the payment route, provider, country, currency, and transaction type, the following charges may apply:

RemoFirst service fee

A USD 25 service fee applies per contractor in a month when a contractor payment is processed.

The fee is added to the first applicable invoice for that contractor during the month. Additional invoices generated for the same contractor within that month do not include another monthly service fee.

Payment-provider fee

A payment-provider transaction fee of 2% may apply to the transaction amount, depending on the applicable payment route and service.

SWIFT fee

A USD 20 SWIFT fee may apply to international transfers. Depending on the selected arrangement, the fee may be allocated as follows:

• Contractor: The contractor covers the full USD 20 fee.
• Split: The client and contractor each cover USD 10.
• Client: The client covers the full USD 20 fee.

Withdrawal and bank fees

Additional fees may apply depending on the contractor’s withdrawal method, payment currency, payment provider, intermediary banks, or receiving bank.

Some intermediary or receiving-bank fees may be deducted outside RemoFirst’s direct control.

Important: Applicable fees may vary or change. Review the current invoice and the amounts displayed in the platform before completing a payment.

Foreign exchange

Currency conversion may be required when the contract, invoice, and receiving currencies are different.

The applicable exchange rate is determined when the client invoice is generated and may depend on the payment provider and supported payment route.

The contractor’s final received amount may also be affected by:

• Exchange-rate movements.
• Additional currency conversions.
• Payment-provider charges.
• Intermediary-bank fees.
• Receiving-bank deductions.

A specific exchange rate or final received amount cannot be guaranteed before all required conversions and transfers have been completed.

Before changing a currency

The required action depends on which currency is changing.

Change the contract currency

The contract currency forms part of the agreed engagement terms. If it changes:

1. Confirm that the new currency is supported.
2. Agree on the change with the contractor.
3. Update or replace the contractor agreement.
4. Review the contractor’s payment settings before processing a payment under the new terms.

Contract-currency changes may not apply retroactively.

Change the invoice currency

Contact Contractor Success to confirm whether the requested invoice currency is available for the client’s company and payment route.

Changing the invoice currency does not automatically update the contractor agreement or withdrawal method.

Change the receiving currency

The contractor must select a supported withdrawal method and receiving currency from their account.

Changing the receiving currency does not change the contract currency or client invoice currency. Currency conversion and additional fees may apply.

Need assistance?

Chat with us or use the support option in the RemoFirst Help Center and select Contractor Success.

Include the company name, contractor name, country, relevant currencies, payment or invoice reference, and a clear explanation of the assistance you need.