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Navigating Intermediary Bank Fees: A Payroll Provider’s Guide to Cost-Effective Global Payments and Offboarding Navigating the complexities of global payroll can be a daunting challenge, especially when dealing with intermediary bank fees that can impact a client’s financial plan. These fees, often obscure and subject to fluctuation, depend on the payment pathway, currency, and the regulatory environment. For a payroll provider, effectively managing these fees is not just a necessity but a way to stand out in a competitive market.
Author: Sam McIntyre Sam McIntyre is the Global Head of Enterprise Solutions at Currencies Direct, a leading international payments company founded over 25 years ago. With more than two decades experience in financial services, including 17 years specialising in international payments, Sam has spent recent years supporting global payroll businesses in delivering their time- critical payments with precision and reliability. Passionate about combining cutting- edge technology with exceptional human service, Sam is dedicated to creating seamless and outstanding client experiences. Click here to speak to an expert or visit LinkedIn. 14 I 04:05
Navigating the Maze of Intermediary Bank Fees A thorough understanding of the structure and categories of intermediary bank fees is essential for effective cost management in
global payroll. These fees can impose a significant financial burden on clients, often going unnoticed due to their complexity and occasional obscurity. Intermediary banks, or
GLOBAL PAYROLL MAGAZINE ISSUE 10
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