Overview
To avoid any delays in paying workers, Deel recommends that clients use the platform's pre-funding feature to pre-fund payroll and ensure seamless payroll funding
Please note that Deel does not pay the salaries of employees on payroll if the client has not funded the payroll on time.
This article provides a detailed guide on how clients can utilize the pre-funding feature.
Before Starting:
- Clients/user must be an organization admin to pre-fund a Deel account
- Pre-funding is available only in the following currencies: USD, AUD, CAD, GBR, EUR
- The only supported payment methods for pre-funding are: Bank Transfer and Wise
- Pre-funding is not available for US Payroll and US Independent Contractors
- Pre-funding is available for both Contractors of Record (COR) and non-US Independent Contractors (IC)
In this article:
Withdrawing funds from pre-fund balance
Pre-funding an Account
Clients can easily pre-fund money on Deel before any payments are due, allowing them to draw from these funds for future payments.
This ensures that payments are settled automatically, enabling us to pay workers on time.
Clients can withdraw funds from their General Fund (Deel Balance) back to their bank account at any time.
Step 1 - Select Organization Settings, and then select the Billing & Payments card
Step 2 - Click View in the General Funds section
Step 3 - Select Top Up Balance to add funds
Step 4- Choose the entity, currency, and amount
This will generate a pre-funding statement.
The pre-funding statement is not a standard invoice. When a client uses pre-funding, they will receive a statement to pay against rather than an invoice. Paying the pre-funding statement will add funds to your general balance that can be used to fund future payments.
At the end of the payroll cycle when payments are due, the client will receive an invoice for services. If a client's invoice amount is higher than the amount they pre-funded, they'll be prompted to pay the difference when they process payment.
Withdrawing Pre-balance Funds
Step 1 - Select Organization Settings, and then select the Billing & Payments card
Step 2 - Click View in the General Funds section
Step 3 - Select Withdraw Funds
Provide all relevant bank details and confirm
Frequently Asked Questions
[ACCORDION] What can clients use pre-funding funds for?
When a client pre-funds their account, the money will go towards their General Fund (Deel Balance). These general funds can be used to pay for certain services on Deel. This can include, for example, payroll for Global Payroll employees, EOR employees, PEO, COR, deposit payments, and more.
[ACCORDION] Is pre-funding available for Independent Contractors?
Yes, pre-funding is available for both Contractors of Record (COR) and non-US Independent Contractors (IC).
[ACCORDION] Will clients receive an invoice when they pre-fund their accounts?
No, when a client uses pre-funding on their account they will receive a statement to pay against rather than a standard invoice. If a client's invoice is higher than the amount they pre-funded, they'll be prompted to pay the difference when they process payment on Deel.
[ACCORDION] Can clients pre-fund in different currencies and have multiple balances in different currencies available?
Yes, clients can pre-fund their accounts and hold general funds in different currencies. Please note that pre-funding is only available in a few selected currencies.
[ACCORDION] Can clients set up automatic payments via pre-funding?
No, AutoPay is not available via pre-funding.
[ACCORDION] Can clients transfer their existing balance from Deel Credits or a Refund Balance into pre-funding?
No, clients cannot convert their existing Deel credits or refunds balances into pre-funds. Clients are restricted to using Bank Transfer or Wise for pre-funding statements, and cannot use existing balances to pay for a funding statement.