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How to pay fiat salaries and bonuses in crypto
How to pay fiat salaries and bonuses in crypto

Pay fiat salaries, bonuses and more in 15+ fiat currencies to 190+ countries

Max Franke avatar
Written by Max Franke
Updated over a week ago

Overview

As with all payroll payments, you get a downloadable PDF receipt with payment details for audit-ready records and reconciliation.

If you haven't been verified yet for off-ramping to a bank account, you will be asked to go through a quick verification process. You can do this here.

How to send fiat to employees

Navigate to the Payroll menu and click on Run Payroll.

1. Click "Add Payment"

Click Add Payment to add a new payment to the form.

2. Select employee

Select an employee from the list or add a new one.

2. Choose or add a bank account for the employee

Add a new or choose an existing bank account for this employee.

Adding a bank account

Select the "Bank Account" tab and add the bank details of your employee.

You will notice that we pre-filled a few fields for you based on the recipient's details. Feel free to change them as needed.

  • Bank Account Name: a name to help you remember the account, e.g. "James' USD Account".

  • First & Last Name: the name of the account holder.

  • Bank Name: the name of the bank where the account is held.

  • Bank Country: the country the bank account is located in.

  • Account Currency: select the currency used for the bank account. We recommend sending the payment in the same currency as the bank account's currency to avoid conversion fees taken by the recipient's bank.

  • IBAN/Account Number & SWIFT/BIC: the account details here depend on the country & currency you want to send the payment in. Refer to your employee for the exact details.

3. Enter the payment details

After selecting the bank account, add the payment details:

  • Denomination Currency: the fiat currency you want your payment to be made in.

  • Amount: the amount in fiat.

  • Reference: an optional field you can use to add a note. Note that this won't appear on the recipient's bank account, but it will appear on the payslip.

  • Memo: an extra free-text field to add a memo that will be displayed to your employee.

  • File: attach a file that employees can download alongside their payslips.

4. Add payment to payroll form

Click Add to add the payment to the payrun.

5. Pay now or save for later

Once you finalized your payroll, you can choose to Pay Now or to Save for Later

  • Pay Now: you will go through the payment flow. Your payroll will also be saved, and all your payments will be listed the next time you click "Run Payroll".

  • Save for Later: your payroll will be saved, and all your payments will be listed the next time you click "Run Payroll".

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