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Foreign Exchange Services
American Express® FX International Payments offers you a simple and secure solution for sending global currency overseas as international money transfers or drafts. Here we'll take you through foreign exchange payment methods, payment processing and payment solutions, and provide you with useful tips.
To access Create a Spot Payment, go to Create & Manage Payments > Create a Spot Payment ,then:
1Choose Telegraphic Transfer or Outgoing Draft from the Product drop-down menu.
2Select the currency you want to send from the Payment Currency drop-down menu, then enter the amount you want to send.
3Select whether the Amount is in Foreign Currency or Local Equivalent. For example, if you would like to send 1,000 EURO, select Foreign Currency. If you would like to send $1,000 worth of EURO, select SGD Equivalent.
4Choose how you want to pay for the transaction from the Settlement Method drop-down menu. If Telegraphic Transfer is selected, click the Pay to American Express info button to view receiving bank information.
5To batch same-currency wires, check the Hold for Batch box. Once batched payments are created, they can be viewed under Batch Management. Payments sent to Batch Management will not process until you go to Batch Management and accept the payments. For more details, view the Batch Management tutorial.
Once you have entered all the mandatory information, click Quote. The Current Transaction Quote box will then appear with a summary of the transaction details, including the Rate, Fee and Total Cost.
The Pay Fee In Local Currency option enables you to pay the transaction fee in the local currency and is available if you choose certain settlement methods.
You must enter the information for the payee receiving the payment. To do so, either Select from Existing Payee List or Create a New Payee.
If you choose to Create a New Payee, manually enter the information in the fields on the right.
To complete the Bank Details, use the Bank Search button.
If you wish to add a note, Notes to Payee will be sent with the payment instruction. Notes for You/Internal comments are for your use only – they will not be viewable by your payee.
Click Expand Section to view all the payee information fields. You have the option of listing three different emails for the payee. When creating a new payee, simply enter the emails you wish to add and check the box next to each one to confirm. For existing payees, the extra email must be added through Manage Payees > Modify Payee. For more details, view the Managing Payees tutorial.
For wire transfers, the payee section will display the Search for Bank option, as well as the related bank information fields. To search:
1Click the magnifying glass icon. A new overlay window will appear.
2Enter the country of the bank you are sending to and provide the required details as indicated.
3Once the correct IBAN, SWIFT or Routing Code has been entered, the bank information will show in the box below.
3Click on the correct bank name, and the bank details will autofill.
Once you have entered all the mandatory information, you have three options:
1Click Accept to execute the transaction immediately. If you do not have permission to approve your own payment, click Submit for approval. Your approver will then need to log in and approve the payment to begin processing.
2Click Send to modify queue to save the transaction for editing before final approval. The transaction can be accessed in Modify a payment. For more details, view the Modifying a Payment tutorial.
3Click Send for approval if you do not have the required authorisation level to approve the transaction. With this option, you can email an approver by checking the appropriate box. The transaction will be routed to the Approve a Payment queue. For more details, view the Approving a Payment tutorial.
With any of the options above, you will be able to Print Details of the transaction, or Save as PDF.
Template Payment helps you minimize time spent on transactions by allowing you to name and create a payment using information already stored. For more details, view the Managing Templates tutorial.
Existing Payments let you search for a previous payment and amend any of the fields as required. For more details, view the Managing Templates tutorial.
Existing members
Our Customer Service team is available daily from 8am to 6pm, Monday through Friday. 1800-507-7688.
New members
New to American Express? Give us a call on 1800-507-7688. Our Customer Service team is available from 8am to 6pm, Monday through Friday.
1. We will make all reasonable efforts to ensure prompt delivery of your FX International Payments (FXIP) Order, however please note transfer times may vary. These Transfer Times do not take into account differing weekends, public holidays or working hours of foreign banks in other jurisdictions to which your FXIP Order has been transferred. Completed FXIP Orders must be received on a Business Day before 3.00pm Singapore time. FXIP Orders received outside these times will be treated as having been received on the following Business Day. For maximum transfer/execution times please see FXIP Terms and Conditions.
2. Fees for same currency payments vary. SGD to SGD payments incur a fee of S$20.00 plus 0.1% commission of SGD transaction value (minimum of SGD 30, up to a maximum of SGD 100). USD to USD payments incur a fee of USD$12.00 plus 0.1% commission of USD transaction value (minimum of USD 22, up to a maximum of USD 132). Please call us on 1800 507 7688 to discuss other same currency payment fees.
The information contained in this webpage has been prepared without taking into account your objectives, financial situation or needs. You should consider the appropriateness of International Payments in relation to your individual requirements.
For further information, please refer to the relevant Terms and Conditions
FX International Payments are arranged through American Express International Inc., (UEN S68FC1878J) Incorporated with Limited Liability in the State of Delaware, U.S.A. with a place of business at 1 Marina Boulevard, #22-00, One Marina Boulevard, Singapore 018989.
Users of this site agree to be bound by the terms of the American Express Web Site Rules and Regulations.
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