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Creating a Spot International Payment

American Express® FX International Payments offers you a quick, secure and cost-effective solution for sending global currency overseas as international wire transfers or drafts. Here we'll take you through foreign exchange payment methods, payment processing and payment solutions, and provide you with useful tips.

TIP : Wire transfers deposit funds directly into your beneficiary’s account. Drafts are paper checks that can be delivered to you overnight and then sent along to your beneficiary by mail.

Requesting a Quote

To access Create a Spot Payment, go to Create & Manage Payments > Create a Spot Payment, then:

1 Choose Outgoing Wire 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 USD Equivalent.
4Choose how you want to pay for the transaction from the Settlement Method drop-down menu. If Wire Funds is selected, click the Pay to American Express info button to view receiving bank information.

TIP : The Value Date is the estimated date that the funds will be released to the beneficiary bank. Please note that if additional information is required, the value date may change.

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.

Current Transaction Quote

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.

TIP : The quote expiry date will be indicated in the orange box. If the rate expires, or if you are otherwise unsatisfied with the quoted rate, you can click Re-quote for a new rate.

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.

Step to step guide on requesting a quote for spot payment

Entering Payment Details for the Payee

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.

TIP : Payees are currency driven – only payees that match the currency selected will be available.

More Payee Information

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.

Searching for a Bank

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.
4Click on the correct bank name, and the bank details will autofill.

Steps to enter payment details by adding new payee and adding the bank details.

Completing your Payment

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 authorization 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.

Completing the spot transaction by accepting the transaction and sending it for approval.

Template Payments

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

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.

Make International Payments

1 833 319 7265

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Existing FX International Payments customers log in here

FX International Payments is a service of American Express Travel Related Services Company, Inc. ("American Express"). This service is not available to consumers. To enroll in this service, your business will be required to complete an application, which is subject to review and approval by American Express.

1. FX International Payments incorporates encryption, both for stored data (such as account information) and for payments created and transmitted in real-time. The FX International Payments platform is deployed within American Express’ state of the art data center that features advanced online and offline security and monitoring against internet attacks. FX International Payments implements American Express standards relating to information integrity, transaction security and information security.

2. American Express makes money from currency exchange.

3. Transfer times for Outgoing Wire Transfers, typically 1-4 business days (delivery times depend on currency and country).

4. Forward contracts are not suitable for every business. American Express is not providing you with legal, tax or financial advice. We recommend that you consult your own advisers to determine whether Forward Contracts are suitable for you. Eligibility requirements apply.

5. One (1) Membership Rewards^® point will be awarded for every USD $30 your business wires internationally using the FX International Payments (“FXIP”) service. The maximum award per transaction is 4,000 points. Not valid for same currency wire transactions (e.g. US Dollar to US Dollar). For a designated Card Member to be eligible to receive Membership Rewards points, your business must first enroll in the FXIP service. Your business must also complete and submit to us a form designating an American Express Card Member who is already enrolled in the individual Membership Rewards program to whom points will be credited. With respect to a company enrolled in the Corporate Membership Rewards program, any earned points will be credited to the relevant Program Administrator Corporate Card linked to the company’s Membership Rewards program. If you select a basic personal American Express Card Member or a basic small business American Express Card Member (e.g., OPEN from American Express) to receive the award of Membership Rewards points, please note that the designated Card Member for that personal or small business account is authorized to determine how and when to redeem those points. You agree not to make any claims against American Express with regard to the manner in which the basic Card Member redeems such points. The American Express Card Member you select to receive the award of points, or in the case of Corporate Membership Rewards, the company, must be current and enrolled in the Membership Rewards program at the time the transaction is initiated. FXIP must have a completed registration on file for the Card Member’s Card account or company’s Program Administrator Card Corporate Card account, and there must be no unpaid FXIP obligations of your business or other violation of or defaults under the FXIP Terms and Conditions at the time of point fulfillment. No points will be awarded retroactively for transactions processed prior to the enrollment of the business in the FXIP service and the processing of the Membership Rewards program registration form. In the event a registered Card is lost, stolen or renewed, you must register the new Card by submitting an updated form to FXIP with the new Card information. Processing of the registration form takes approximately 2-4 weeks. To obtain a registration form, call 1-833-319-7265. Points will be credited to the Card Member’s Membership Rewards program account or Corporate Membership Rewards account, if applicable, within 10-12 weeks after the eligible transaction is completed. Membership Rewards points that are awarded for transactions with FXIP are subject to the terms and conditions of the Membership Rewards program, including rules regarding forfeiture of Membership Rewards points. Note that the rewards available in the Membership Rewards program vary depending on the type of American Express Card enrolled in Membership Rewards. The value of Membership Rewards points varies according to how you choose to use them. To learn more, go to Membership Rewards. Participating partners and available rewards are subject to change without notice. See Membership Rewards Terms or call 1-800-AXP-EARN (297-3276) for more information. A company that is enrolled in Corporate Membership Rewards, and points earned under that program, are subject to the terms of the Corporate Membership Rewards program (see Membership Rewards – Corporate TnC). Transactions by university or financial institution clients are not eligible for this offer. FXIP reserves the right to change, limit, modify or cancel this offer at any time.

Bonus ID A9PE

It is your responsibility to find out if you are liable for any federal, state or local taxes as a result of earning or using points.

FX International Payments is a service of American Express Travel Related Services Company, Inc. ("American Express"). This service is not available to consumers. To enroll in this service, your business will be required to complete an application, which is subject to review and approval by American Express.

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