What is Local Currency Payments?
Local Currency Payments is a new payment method that allows clients to make payroll payments using their local currency (where available) while ensuring workers still receive USD. This feature helps reduce high conversion fees and simplifies the payroll process.
Benefits of Local Currency Payments
- Save Money – Avoid high conversion fees with competitive exchange rates.
- Easy & Fast – Pay directly from a local bank account with no extra steps.
- Smooth Payroll – Payments are processed quickly and hassle-free.
Where is Local Currency Payments Available?
Local Currency Payments is available now in Colombia, Mexico, Brazil, Peru, Chile, Argentina, Canada, Spain, and Portugal, Bulgaria, Switzerland, Czech Republic, Denmark, Hungary, Iceland, Norway, Poland, Romania, Sweden, France, Germany, Austria, Belgium, Cyprus, Estonia, Latvia, Finland, Ireland, Italy, Luxembourg, Malta, Monaco, Netherlands, Slovakia, and the United Kingdom.
How It Works
Set Up Local Currency Payment – In the payment setup screen, select the country where you want to make a local currency payment. Simply click the “Local Currency Payment” box, choose your country, and save the payment method.
Create a Payment – Clients create a payroll payment on the Ontop platform using their local currency.
Redirected to our provider
Receive Payment Link – A payment link is sent to the email provided during payment creation, and with some providers we will redirect you to the provider's website.
Complete the Payment – Clients complete the payment using the link in their local currency.
Upload Proof of Payment – Clients upload proof of payment to the Ontop platform.
Workers Get Paid – Workers receive payments in USD.
🔹 Important: Payments might be approved even if they are in "Pending Receipt" status if our team is able to confirm that the payment has arrived. However, clients should still upload proof of payment as soon as possible to avoid delays.
⚠️ Ontop Balance top-ups are already available with this payment method too!
Fees
A 0.3% fee applies for all countries using Local Currency Payments.
Frequently Asked Questions
Will the amount of my payment change due to currency fluctuations?
No. The amount is displayed in USD on the Ontop platform. Once the payment link is generated, the final amount in the local currency is fixed based on the exchange rate of that day.How long does it take for payments to be processed and approved?
Processing times vary by country, typically ranging from 1 to 3 business days. The exact estimated processing time is displayed on the checkout screen after setting up a Local Currency Payment.How do I know if Local Currency Payments is available in my country?
You can find a list of available countries under the "Where is Local Currency Payments Available?" section in this article. We are constantly expanding, so keep an eye out for new updates!Can I make payments in a currency that's not listed?
At this time, Local Currency Payments is only available in the listed countries. We’re working on expanding the list, so stay tuned for updates!How are exchange rates determined?
Exchange rates are determined by the payment processor and are based on the market rate at the time the payment link is generated. The rate is fixed at that moment and won’t change once the payment link is sent.What if I make a mistake while setting up the payment?
If you notice an error after setting up your payment, please contact our support team as soon as possible. We can assist you in canceling or adjusting your payment before it’s processed.Can I cancel a Local Currency Payment after it has been made?
Once a payment has been processed and the worker has been paid, the transaction cannot be canceled. If you have any concerns, please reach out to our support team for further assistance.What happens if my payment is delayed or rejected?
If your payment is delayed or rejected, our system will notify you, and you’ll be provided with further instructions. It’s important to ensure that the payment information you provided is correct, including the local currency and bank details.Can I use Local Currency Payments for other types of transactions besides payroll?
Currently, Local Currency Payments is available exclusively for payroll transactions.Do I need to have a specific bank account to use Local Currency Payments?
Yes, you need to have a local bank account in the country where you are making the payment. The payment will be processed from that account in your local currency.Are there any other fees besides the 0.3% transaction fee?
No, there are no additional fees beyond the 0.3% transaction fee. The exchange rate applied is competitive, helping you save money compared to traditional conversion methods.