Setting up an international payment transfer
Seamlessly transfer funds from your bank account to another bank account in a different country. Our platform will handle the currency conversion for you, providing a convenient solution for such transactions. Businesses looking for making overseas invoice payments like goods purchased, professional services, business expenses, technical services, consulting services etc. can use this feature.
You can also use this feature for cross-currency payments within the same country.
For instance, if you're sending money from your account in one currency to a recipient's account in a different currency within the same country.
Here’s how you can set up an international payment
Login and head over to Payables or Accounts Section and click on Create Payment
Now select international recipient as recipient type when prompted, and on add recipient form select the country currency based on where you want to send the payment. Ex. Sending money to US in USD currency
Provide an amount to send to the recipient (ex. 10000 USD) and verify the required SGD amount.
Learn more here on what the conversion fee, SWIFT fee and exchange rate is and how those are calculated.
Provide other details as source of funds and purpose of payment
Note that we do not support payments to restricted industries. Your payment will be rejected if it belongs to the listed restricted industries.
Upload necessary documents as payment invoice and source of funds documents.
Learn more here on what is “Source of funds” ,why documents are required and which documents to upload
The maximum allowable size for document uploads is 10 MB, and you can upload up to 5 invoices per document type.
Review payment details, you can click on the info icon to see and review the amount and fee breakup again.
4. Once confirmed, your payment will be set up successfully. Sit back and relax, as our compliance team will review and approve your payment. We will debit your account with the required amount.
You can check the recent status of your payment on the dashboard. Learn more how you can edit or cancel international payment here
Your payment will reach your recipient in 3 business days or earlier. Learn more here about the full journey of your payment and how to avoid any delays in processing the same.