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gdelaflor
New Member - Level 1

Reimbursing employees overseas

Hi!

We have a few employees (mostly executives) working out of Europe and Africa, who from time to time need to be reimbursed for expenses or need to pay back for personal expenses charged to credit cards (normally in currencies different than CAD or USD).

 

Does anyone have any solution for transferring the funds in an efficient and inexpensive way?

 

Thanks!

1 REPLY 1
Munari_alEXPert
Frequent Member - Level 1

dear @gdelaflor 

I am not sure if I understand the problem. maybe could you please clarify answering a few question?

- Do those employees have a company credit card? If so, I don't see the problem as the company credit card is linked to only one currency for reimbursement. So if they expense EUR it will be exchange the charge in USD, if the card is in USD.

 

- Don't they have a company credit card and need to pay cash from time to time within those oversea countries?

They should be able to cash some money with their credit card OR ATM card in the country where they go, keeping the receipt of the exchange rate and charges, creating expenses within the local currency in Concur, which anyway will translate into their reimbursement currency in the system, and if they have a lost in Forex, adding an extra line on the expense report for the extra cost bear by them.

 

- They have a company credit card and buying gift for personal reason to bring back home? 

Depends on your company policy, but the personal charges should be if there are matter of real urgencies, so they should use their personal credit card for those costs. If the company in case allows personal charges, the card still linked to the specific currency (e.g. USD) so if they have personal charges in Euros, the charges will still show in USD on their statement, which will represent the part to be reimburse. 

 

I thought only a few possible scenarios, if none of those are the one you are referring to, please clarify. thank you

 

Kind Regards

Alessandro Munari - Travel Expense Project Manager
https://www.linkedin.com/in/alessandro-munari/