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Local transfer
A local transfer is when a bank makes a payment to a foreign bank account.
A local transfer is when a bank makes a payment to a foreign bank account but uses an intermediary to do so. Often the intermediary is the recipient’s own bank, who reviews and clears the payment. Usually, local transfers are cheaper to do than using SWIFT, but they take longer to process.
Related Glossaries
Payroll Taxes
Payroll taxes are taxes directly related to work.
Remote hiring
Process whereby all interviews are conducted not in person, but rather over platforms such as zoom.
Off-cycle payment
"Off cycles", occur when payments are processed outside of the regular payroll cycle.
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Remote Work
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