Paying Overseas
As businesses like yours continue to expand overseas, there will be invoices to pay in different currencies.
While the simplest and most common payment option is to have your bank issue a bank-to-bank wire transfer, there are significant extra hidden costs from both your bank and the overseas vendor.
Your bank often charges fees on overseas transfers and adds an extra markup on foreign exchange (FX) rates as much as 5% to enhance their own profit margins. For example, on a $30,000 transfer in Euros (EUR) to your supplier in France, you could pay almost $1,500 in extra costs to your bank.
If you decide to try and avoid high exchange rates from your bank by paying in US dollars (USD), overseas vendors often pad their invoices by as much as 3-10% to offset the anticipated risk of currency fluctuations plus their expected time and effort for converting your USD payment to their local currency. On top of extra costs, foreign vendors may also shorten payment terms leaving you less time to pay your invoices. Fortunately, you have more cost-effective, time-saving options when choosing a partner to manage your payments to overseas suppliers.
Dedicated FX Specialists Deliver Tailored Payment Solutions
Everything we do at Monex USA is tailored to meet your FX needs. Whether it’s a smaller payment you’re looking to send overseas promptly delivered at the best exchange rate, you can open a Monex account and make a payment in minutes. Or maybe you’ve ordered the construction of a large piece of machinery and must make larger payments in several installments—your dedicated Monex USA specialist is constantly monitoring the currency market. They will help you choose the best payment tools to plan and schedule your payments when the market is most favorable to save you the most money.
Our FX Products Include:
Quickly buy or sell foreign currency to settle invoices around the world.
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Lock in today’s exchange rate for up to two years to protect against unfavorable currency market moves.
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Set best and worst-case rate levels to ensure you lock in the rate you want, even if you aren’t watching the market.
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Hold money in over 30 currencies until you need to use them, without the need for foreign bank accounts.
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Available 24/7 across all your devices, Monex USA Online is our powerful online global payments solution.
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We offer you the potential to generate a return on your money—with access to a full suite of FX Options Structures.
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Monex USA is committed to powering the global growth of your business with our tailored, end-to-end FX payment solutions.
JP, CEO of Monex International
JP, CEO of Monex International
JP has almost 30 years of experience in the financial sector, specializing in international payments and foreign currency exchange. His wealth of experience and excellent leadership bring Monex to new heights! Learn more about JP in our currency corner
Meet Team Monex USASay hello to the Monex USA App
Say hello to the Monex USA App
Transact anywhere, anytime from your mobile device with the Monex USA App. Manage all your payments and FX products at your fingertips with end-to-end transaction tracking as well as instant quotes with the ability to buy in a few clicks.
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