This article explains how clients can manage and pay their deposits for Global Payroll as well as the scenarios in which they may be eligible for a deposit refund.
In this Article
Manage Global Payroll Deposits
Global Payroll Deposit Refunds
Video Walkthrough
About Global Payroll Deposits
If a Global Payroll client chooses to use Deel to pay their employees, Deel takes on the responsibility of ensuring these employees receive their payments. However, it's important to note that Deel is not legally obligated to pay the employees if the client fails to fulfill their payment obligations to Deel.
To mitigate potential risks such as payment delays or bank failures, Deel has implemented Global Payroll Deposits to guarantee that employees are paid under all circumstances.
- We do not accrue interest on deposits, as we are not a financial institution. Instead, deposits serve as a guarantee if a customer fails to pay and will be returned to the customer at the end of the service.
- We do not generate revenue from these deposits. Rather, the funds are used to ensure timely payments to employees in case of any delays.
Under each organization’s Entity > Global Payroll Tab, you have full visibility into the deposit totals for each payroll cycle. If you have opted to Pay through Deel, you will see the total amount held by Deel, total left to be paid, and the summary total deposit amount. When invoices are due, you will be able to review these details and fund the payment from the same place.
Manage Global Payroll Deposits
To view the deposit totals, navigate to Organization Settings > Select an Entity > Go to the Global Payroll tab.
Note: The total amount held will be provided in the currency of the original deposit invoice.
If there is an amount left to be paid, you will be issued a Deposit Invoice. The invoice properly documents all recalculated deposit amounts and allows you to complete the funding requirements for this payroll cycle. You will be able to select “Pay Invoice” under Payroll Funding to complete the process quickly and securely via the Deel platform.
Without leaving the Global Payroll Tab, select “Pay Invoice” to complete the funding requirements for this payroll cycle quickly and securely via the Deel platform.
Your deposit invoices are always available for historic review. Use the View Deposit Invoices option under Payroll Funding to jump to the Invoices tab (Payments > Invoices).
Use the “View as Report” option to download a .CSV file containing all of your Deposit invoices & Credit Notes.
Global Payroll Deposit Refunds
In the event of entity headcount decrease, entity closing, exception requests for contract changes, termination of services with Deel, and/or internal errors, clients may be entitled to a refund on their unused deposit funds.
There are two methods available for receiving refunds: Funds can be returned to a bank account (preset as a refund method) or clients can opt to leave refunds on their Deel balance.
Any funds left in the client’s Deel Balance can be used to aid in funding other payroll cycles. Clients can review their current balance at any time by navigating to Organization Settings > Billing & Deposits.
Select the Global Payroll tab to see the amounts listed in the currency that will be used to pay employees.
Please note that all deposits are returned in the currency of the original invoice. You must add at least one refund method to your organization to receive your refund.
Video Walkthrough
How to Add a Refund Method
✅ Step 1 - Go to Organization Settings
✅ Step 2 - Select Billing & Payments
Click View to manage your payment methods and billing preferences.
✅ Step 3 - Click Refund Method
✅ Step 4 - Select Add Refund Method
You have two methods to receive refunds:
- Select Add Bank Account if you wish for the deposit refund to be credited into a bank account.
- Leaving the funds on your Deel balance (Deel Balance can be used to aid in funding future payroll cycles or returned to a bank account at any time)
Note: Setting Leave Refunds On Deel as your preferred organization-level refund method will automatically apply to all contracts that have a deposit, regardless of worker type.
Complete all required fields and select Add.
Your refund method details have been added to your profile and you are ready to receive refunds.
✅ Step 5 - Confirm currency
The funds on your balance must be in the same currency that you use for payments to be used for future payments. Please choose a currency that you make payments with, as your selected refund currency.
You can choose the currency that you wish the deposit refund to be converted to before we post the funds on your balance. But once the refund arrives on your balance, you cannot exchange the funds again to a different currency.
Frequently Asked Questions
[ACCORDION] What is a deposit for GP and why do I need to pay this?
Deposits are funds held in the client's account as a guarantee. Deel has implemented GP Deposits as a protective measure to mitigate potential risks like payment delays or bank failures. These measures ensure that employees are paid without fail.
[ACCORDION] When can I receive a refund on deposit funds?
You may be entitled to a refund on their deposit in the event of entity headcount decrease, entity closing, exception requests for contract changes, termination of services with Deel, and/or internal errors. Please reach out to your Account Manager or Deel Support to request a deposit refund.
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