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Card Accounts
Online Services
Business Accounts
Assistance
Travel Money
Travel Services
Business Services
All Insurance
Travel
Motor
KrisFlyer Miles
CapitaStar$®
The Incoming Forward Contracts feature in American Express® FX International Payments lets you sell a set amount of foreign currency to be recieved at a fixed rate.
To access Incoming Forward Contracts, go to Create & Manage Payments > Incoming Forward Contracts, then:
1Choose Fixed or Window from the Incoming Forward Type drop-down menu.
2Select the Currency of Contract and enter the Contract Amount.
3Enter the Maturity Date by which the full contract must be settled in the pop-up calendar.
4Once you have entered all the mandatory information, click Quote.
5The Summary box will then show details including the Currency of Contract, Product, Payment Amount, Rate, Total Cost, and Maturity Date.
You have two options to complete your transaction:
1If you have the required authorisation, click Accept to execute the transaction immediately. As an additional security measure, you must re-submit your Username and Password. Then click Approve Payments. If successful, you will see 'Your Payment is Complete' followed by the Payment Reference Number.
2If you do not have the required authorisation level, click Send for approval and check the box to alert an approver by email. The transaction will be sent to Approve a Payment. For more details, view the Approve a Payment tutorial.
With both options, you will be able to Print Details of the transaction. To start the process again, click Create Another Contract.
Any open contracts will be displayed in the lower portion of the Incoming Forward Contract section. Here you can view the details of each open contract, such as the Creation Date, Amount and Total Cost, and make drawdowns. To make a drawdown on an open contract, click the Drawdown button.
1Choose Outgoing Wire or Outgoing Draft from the Product drop-down menu. The amount Available for Drawdown will be indicated.
2Choose how much you wish to drawdown from the available amount by completing the Incoming Currency field.
3Select the appropriate Credit Account from the drop-down menu.
4Enter the Value Date you expect the funds to be received.
5Once you have entered all the mandatory information, click Continue. The Summary box will then show details, including the Amount, Rate, Sub Total, Fee, and Total Cost.
Note: If the incoming drawdown is pending more than five business days before the payment is received, it may be cancelled.
You must enter the information for the customer sending the payment. To do so, either Select from Your Existing Originating Payer List or Create New.
For outgoing wire transfers, the payee section will display the Search for Bank option. Here you can search for payee bank details either by IBAN or country. After entering your search criteria, click Search and select the appropriate bank from the results displayed below; the information fields will be automatically populated.
1If you have the required authorization, click Accept to execute the transaction immediately. As an additional security measure, you must re-submit your Username and Password. Then click Approve Payments. If successful, you will see 'Your Payment is Complete' followed by the Payment Reference Number.
2If you do not have the required authorization level, click Send for approval and check the box to alert an approver by email. The transaction will be sent to Approve a Payment. For more details, view the Approving a Payment tutorial.
With both options, you will be able to Print Details of the transaction.
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.
Terms and Conditions
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 10 Marina Boulevard #15-00 Marina Bay Financial Centre, Singapore 018983.
Users of this site agree to be bound by the terms of the American Express Web Site Rules and Regulations.
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