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Foreign Exchange Services
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Foreign Exchange Services
Our range of products and payment services are designed to help you save time and effort.
Whether you’re sending or receiving international payments, our business services can help provide a quick exchange of funds
These international payment solutions are often used for quick settlement, typically from same day to two business days1.
Converting foreign currency payments into Singapore Dollars can sometimes prove a challenging and costly process. Processing your incoming international payments with FX International Payments gives you convenient access to funds, thanks to our global banking relationships.
We can convert your incoming foreign currency wire or draft into Singapore Dollars and wire the funds into your nominated Singaporean bank account.
We process incoming international payments for the following currencies:
We can help you manage foreign exchange risk using forward contracts, for example when you have invoices or receipts due at a future date in a foreign currency. We offer:
Forward Contracts are agreements between you and a foreign exchange provider to buy or sell a certain amount of foreign currency at a fixed rate of exchange at a future date. They allow you to lock into an exchange rate now to avoid currency fluctuations.
All of the above supported by your dedicated Relationship Manager.
Whether you’re a small business or a large corporation, we have a range of tailored integration solutions to meet your needs. For example:
Please contact us to discuss integrated payment solutions that are right for you.
Spot contracts provide a solution to short term currency exposure with quick foreign exchange settlements.
Forward Contracts help you manage your cash flow and future payment risk by locking in exchange rates- up to 12 months.
Forward Contracts therefore help provide cost and pricing certainty on supply and sales contracts due to be settled in the
future.
Window Forward Contracts must also be settled by the maturity date but enable you to make multiple drawdowns throughout
the duration of the contract. There is no minimum drawdown amount and drawdowns can be made to different beneficiaries
Blended Transactions allow you to add additional funds to a drawdown from a Forward Contract. They add rate flexibility
when booking Forward Contracts and help avoid paying fees twice when you only really need to make one final payment.
There are two types of risk when you are managing a business with exposure to foreign currency:
Paying in a supplier's currency is usually the most efficient – although it depends on the nature of your business. You can
complete the transaction on local terms and control when you accept the foreign exchange rate.
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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