Look at the amount that arrives

A currency rate is only part of the cost of an international payment. The conversion spread, transaction charge, intermediary fees and receiving arrangements can all affect the final amount. Timing matters too: a quote and a completed payment can fall at different points in the working day.

A clear FX discussion identifies the source currency, destination currency, payment amount and expected settlement date. It also identifies the business providing conversion and the terms that apply.

Match the route to the business

Regular supplier payments call for a repeatable process. A one-off customer receipt may need a different arrangement. Businesses should know who can approve a conversion, how the quote is accepted and where the completed transaction will be recorded.

Keep the conversion reference with the invoice and payment record. This makes the commercial cost easier to understand and helps the finance team reconcile the transaction.

Talk through your requirements

Contact us with the currencies, countries and payment pattern involved. Discuss FX requirements with the UK team before selecting a service or making a payment.