Your step-by-step guide to making fast, easy and safe international payments

Paying suppliers from abroad can be a breeze if you follow a few key steps. And to help you navigate this exciting terrain, we've put together a nifty guide covering all the essentials you need to know to make fast, easy and safe international payments.

So, let’s jump right in:

• Check the current exchange rate: Before going ahead with your FX payment, check the actual exchange rate to get the best value for your money - as some providers hide sneaky fees in the ‘exchange rate’ they quote.

• Watch out for fees and hidden costs: Make sure you ask your provider about any fees or charges that are associated with your payment, as hidden costs can affect the total amount you'll receive or send.

• Security and Regulatory Compliance: Safety first! Check that your chosen FX provider follows robust security measures and complies with relevant financial regulations.

💡 We always recommend checking the final total amount! 🧐

• Confirm your payment details: It’s important to get all the bank information and account numbers right to ensure your payment safely reaches its final destination. Take your time to triple-check all the information before proceeding!

💡 Ideally, you want to use local payout rails (like ACH, SEPA and EFT). They will be a lot cheaper than Swift 😮

• Check for payment confirmation: Once your FX payment is initiated, request confirmation from your FX provider to ensure the transaction has gone ahead.

• Keep a record of your payment journey: Maintain a record of all your transactions, including details like exchange rates, fees, and confirmations, for your financial records and peace of mind.

💡 Integration with your accounting system is a massive bonus, as it means all this record-keeping will happen automatically 😍

By following these simple steps, you'll be flying towards international payment success.

If you have any questions or need a little more help, our FX experts are always here to help you make international payments a breeze. 

Reach out to us any time at help@crezco.com. We’d love to hear from you!