Payroll
Global Payroll. Zero FX drag.
Businesses with international teams, remote workforces, and overseas subsidiaries face a hidden payroll cost: FX conversion fees charged by banks and payroll platforms on every salary run. Jackson Swiss Partners provides institutional-rate currency conversion, bulk payment infrastructure, and rolling hedge programmes — turning international payroll from a cost centre into a competitive advantage.
The challenge
Your payroll is in GBP. Your people are everywhere else.
Every international salary run triggers an FX conversion — and most businesses are paying 1–3% on top of mid-market rate every single time. On a £500,000 monthly international payroll, that is £5,000–£15,000 lost to bank spread every month before a single employee is paid. The structural cost is invisible in P&L until someone maps it.
The timing problem compounds it: without a hedge, your GBP payroll cost changes every month as exchange rates move. A 5% swing in USD/GBP on a £200K monthly US payroll budget is a £10,000 swing — making headcount planning unpredictable and CFO sign-off on overseas hiring difficult to obtain.
FX Spread on Every Payroll Run
Banks and payroll platforms charge 1–3% on each currency conversion. On a £500K monthly international payroll, that is £5,000–£15,000 lost every month — hidden inside your payroll cost as a rounding error.
Settlement Timing & Delays
Correspondent banking chains delay overseas salary payments by 1–3 days, creating employee relations problems and compliance risk in jurisdictions with strict payroll timing rules.
Payroll Budget Volatility
Without a hedge, your GBP payroll cost changes every month as exchange rates move — making headcount budgeting unpredictable and CFO sign-off on overseas hiring painful to secure.
Core solutions
Built for global payroll teams
Multi-Currency Payroll Payments
Pay employees and contractors in 140+ currencies at institutional rates, with same-day or next-day settlement — replacing the correspondent banking chains used by standard payroll platforms.
- 140+ currencies for employees and contractors
- Bulk payroll file upload or ERP integration
- Same-day settlement on major corridors (USD, EUR, AED, SGD, AUD)
Payroll FX Hedging
Lock your monthly payroll rate 3–12 months ahead with rolling forward contracts — converting budget FX volatility into a fixed, predictable monthly cost.
- Rolling forward contracts for monthly payroll cycles
- Budget rate protection for headcount planning
- Phased drawdown matched to payroll run dates
Virtual IBANs for Payroll Pre-Funding
Pre-fund payroll in specific currencies via dedicated virtual accounts — ensuring funds are available in the right currency before each payment run, helping to mitigate last-minute conversion risk.
- Multi-currency virtual accounts per payroll currency
- Auto-convert base currency to pre-fund cycles
- Clear balance visibility per currency ahead of run
Expense Reimbursements
Reimburse international employees in their local currency at competitive rates — with full per-transaction audit trail for finance, HR, and compliance teams.
- Local currency reimbursements in 140+ currencies
- Per-employee, per-transaction tracking
- Consolidated reporting for payroll reconciliation
How it works
From funding to audit trail
Fund
Deposit your GBP (or base currency) payroll budget. Convert to required employee currencies at institutional rates ahead of the payment run.
Hedge
Structure rolling forward contracts on your known monthly payroll exposure — lock rates 1–12 months ahead so your headcount cost never surprises the CFO.
Pay
Upload payroll file or connect ERP; execute bulk payments to all employees in their local currencies — same-day on major corridors.
Reconcile
Full payment confirmation, per-employee audit trail, and consolidated FX reporting — ready for payroll reconciliation, board reporting, and compliance audit.
currencies supported for employee and contractor payments worldwide
typical FX markup charged by commercial banks on each international payroll conversion
average annual FX saving for a business converting £500K/month international payroll from bank rates to JSP institutional rates
Why choose JSP
What payroll teams gain
Payroll FX Expertise
Deep understanding of recurring payroll hedging, bulk payment execution, and multi-jurisdiction compliance requirements.
Institutional Conversion Rates
Better rates than commercial banks and payroll platforms on every payroll cycle — savings that compound month after month.
140+ Currencies
Full coverage for employees in every major jurisdiction, including emerging markets and the UAE, Singapore, Australia, and Americas.
Budget Rate Certainty
Rolling forward contracts lock your monthly payroll cost — helping to manage FX volatility in headcount planning and CFO approval processes.
Audit Trail & Compliance
Complete per-payment records for every employee, every cycle — ready for payroll reconciliation, statutory audit, and HR compliance reporting.
Same-Day Settlement
Faster than correspondent banking chains used by standard payroll platforms — employees get paid on time, every time, in every country.
Relevant services
The Jackson Swiss Partners toolkit for payroll
Payments & Collections
International payroll payments in 140+ currencies with institutional rates and same-day settlement on major corridors.
Learn moreVIBANs
Pre-fund multi-currency payroll with dedicated virtual accounts per currency — clear balance visibility before each run.
Learn moreExpense Management
Manage and reconcile international employee expense reimbursements with full per-transaction audit trail.
Learn morePayroll FX FAQ
Common questions from HR, finance, and payroll teams managing international employee payments.
We provide a bulk payment infrastructure that lets you upload a payroll file or connect your ERP, then execute salary payments to all employees in their local currency simultaneously — at institutional FX rates rather than the 1–3% bank markup. Payments settle same-day on major corridors including USD, EUR, AED, SGD, and AUD, and each employee receives a payment confirmation with full transaction detail. We replace the correspondent banking chain used by standard payroll platforms — cutting cost and settlement time.
Yes. We structure rolling forward contracts on your monthly payroll exposure — locking the exchange rate 1–12 months ahead so your GBP (or base currency) payroll budget is fixed regardless of market movements. This is particularly valuable for CFO sign-off on headcount planning: once you know you are hiring in USD, EUR, or SGD, we lock the rate forward so those salary commitments never move against you. The contracts are phased to align with each monthly payroll run date so you are always drawing at the right time.
We support 140+ currencies for payroll and contractor payments — covering every major jurisdiction where international businesses employ people, including USD, EUR, GBP, AED, SGD, AUD, CAD, CHF, JPY, HKD, and a full range of emerging market currencies. If your employees are paid in it, we almost certainly support it. We will confirm specific corridor availability and settlement times when we review your payroll currency mix.
Virtual IBANs let you pre-fund payroll in each required currency before the payment run — so funds are sitting in the right currency account before you trigger payments. This helps mitigate the last-minute conversion risk that comes with converting GBP to USD or EUR at the point of payment. You can fund your USD VIBAN, EUR VIBAN, and SGD VIBAN days before payroll runs, lock the conversion rate in advance, and trigger payments knowing the funds are already in place. This also provides clear per-currency balance visibility for your finance team.
Commercial banks typically charge 1.5–3% on each currency conversion embedded in international payroll — often without clear disclosure. Payroll platforms add a similar layer on top of a bank's rate. At institutional rates, JSP typically prices at a fraction of that — the difference on a £500,000 monthly international payroll run is £7,500–£15,000 per month, or £90,000–£180,000 per year. We are transparent about our pricing and will provide a direct comparison against your current bank or payroll provider before you switch. The savings compound every month you are with us.
Get started
Ready to stop paying bank rates on every payroll run?
Speak to a payroll FX specialist who understands recurring salary hedging, bulk payment execution, and the true cost of leaving currency conversion to your bank. We will map your international payroll exposure and show you exactly what you are currently losing — and what you could save.