What are EOR FX fees?

What amount does the markup apply to?

Ask the provider to identify the conversion base: salary, employer contributions, benefits, expenses and possibly service fees. Do not assume the headline salary is the only amount converted. A percentage has little meaning without its base.

For a stated markup applied to the reference-rate value of payroll, annual markup cost equals monthly converted payroll × 12 × markup percentage. At $100,000 per month and 2%, that is $24,000 a year. This is arithmetic from an illustrative scenario, not a claim about a supplier.

What counts as a reference rate?

A useful reference identifies the currency pair, quote direction, source, fixing time and settlement basis. Wise defines the mid-market rate as the midpoint of buy and sell rates. That definition alone does not establish which rate an EOR contract uses.

The ECB publishes reference rates for information and discourages using them for transactions. A daily reference rate should therefore not be treated as proof that an invoice used the wrong executable rate. Ask for the agreed benchmark and compare like with like.

What should a buyer request?

• The reference rate and when it is fixed.
• The markup percentage, calculation base and any minimum charge.
• Separate conversion, payment and bank charges.
• A worked invoice and contract wording that agree.

Record undisclosed costs as unknown, not zero. An unknown is a reason to request evidence before awarding a cost score.

Sources & calculation basis

The buying checklist and examples are EOR Truth’s analysis. Examples are illustrative, not observed supplier prices. See our calculation methodology and editorial standards.

• Wise Help Centre: What is the mid-market exchange rate? — Commercial primary source for its explanation of the mid-market rate; not evidence of any EOR supplier’s pricing. Accessed 24 September 2026.
• European Central Bank: Euro foreign exchange reference rates — Primary source for the purpose and limitations of ECB reference rates. Accessed 24 September 2026.