Setting up your Transferwise Payroll
You can use Transferwise to pay your team on Hubstaff. It will allow you to pay your team automatically, and avoid needing to manually send payments.
If you are a team member (User) within your organization and you need help setting up your Transferwise account receive payments, please see our guide here.
Table of Contents
Setting up Transferwise for your Organization
Select the Payments tab, Payroll, and then Add integration. If you already have another payroll account connected, you can click on “Manage integrations” located at the top right corner of the page.
Alternatively, you can navigate to Integrations -> Add integration.
Select Transferwise from the Payment processors list.
Make sure you meet the requirements for the set up and that you are logged in on your Transferwise account, then select Connect.
Required steps before set up
- Ensure Transferwise account is setup as a business account
- Create your borderless account with the same currency as the organization
- Fund account (since it cannot pull from bank account or credit card)
- USD funds are needed in Transferwise balance
- Login into your account and click to activate the email transfer feature & also activate the same currency transfer feature
- Our integration with Transferwise currently does not support ACH transfers using USD so make sure you have funds in your borderless account
It will then ask you to Allow Hubstaff to get your information on Transferwise.
After choosing the Transferwise account, you can configure which users you’d like to add to your Transferwise payroll.
Accepts: Bank transfer for deposits into Transferwise balance. Borderless account funds are required to make transfers.
To see what transfer fees you can expect to have while using the TransferWise integration, please click here to visit the official pricing page.
You will need to have at least one account on your Transferwise in order to set up this payment account.
Adding Member to Payroll
Navigate to Payments -> Payroll.
Click on the Add member to payroll button.
Enter in the following information:
- Pay Period (Weekly, Bi-Weekly, Twice a month, Monthly)
- Require timesheet approval – works with the Timesheet Approval feature.
- Pay Type – can be set to Hourly, or Fixed payments.
- Pay Rate – the rate you’ll pay your employee.
- Bill Rate – the rate you can bill your client.
- Automatic payments – users will be automatically paid based on the set Pay Period.
- Transferwise e-mail address
- Hit Save to complete the setup.
After saving, your employee’s payroll account should be set up: