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FX International Payments
Take a look at the competitive advantage you can achieve by making international payments through a provider with extensive global counterparty reach.
To understand the benefits of partnering with an international payments provider with global reach, you need to appreciate the counterparty networks that lay behind the scenes. You also need to realise that access to these networks is limited for a lot of foreign exchange providers.
Watch this short video for an insight into the global payments network that has the ability to deliver your business a competitive advantage.
To establish trust and credibility in international business relationships, it's essential to have a local feel and familiarity when dealing with clients and suppliers abroad.
Ideally you want to give the impression to business partners that they're transacting with the business next door, not a company on another continent.
One way to foster this feeling is to ensure your business transactions are generated and executed with a local feel to create the impression of ease and familiarity for your supplier.
Unfortunately, despite the highly interconnected financial system, local representation isn't widely offered among foreign exchange providers.
To understand the big picture, you need to know that banks and foreign exchange providers turn to counterpart networks behind the scenes.
This is done to provide customers with local in-market expertise and support in the countries to which they need to make payments.
To ensure your funds are sent using the most direct and efficient route, it's important to choose a foreign exchange provider with the global counterparty reach to support your payment process.
If a foreign exchange provider only has one or two counterpart banks to work with, your foreign exchange payment might whirl around the world before it reaches a beneficiary bank account.
Not only is this an indirect route, but it also feels like a foreign payment when it arrives at its final destination.
It's like putting your money on two or three planes, when there's a direct flight available. A specialist provider with a wider range of counterparty banks is able to transact more directly.
They can use their network to pick the best bank based on geographical presence and ensure your payment is generated as locally as possible.
Think consistency, trust and relationship building.
And when this is backed by a significant level of local market expertise, your choice of international payments partner can help you succeed in a global marketplace.
Trade Financing & Best Practice B2B Payments
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The information contained in this webpage has been prepared without taking into account your objectives, financial situation or needs. You should read the PDS and consider the appropriateness of International Payments in relation to your individual requirements.
Articles, comments and any other materials available on or through the FX International Payments website do not reflect the opinions or analysis of the American Express Company or any of its affiliates, subsidiaries or divisions. American Express is not responsible for, and does not validate, any information, opinions, assertions or statements expressed in any such materials, or the identity or credentials of the individuals communicating through the site. Information available on the site does not, and should not be relied upon to, replace the advice of your own professional legal, tax and financial advisors.
For further information, please refer to the relevant (Telegraphic Transfers and Forward Exchange Contracts) Product Disclosure Statement (PDS).
International Payments are arranged through American Express International, Inc. (ABN 15 000 618 208 AFSL No. 237996). Incorporated with Limited Liability in Delaware, USA.
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