International payment costs can extend beyond the transfer fee, with exchange rate margins potentially increasing the total cost of paying overseas suppliers.
For businesses making regular international payments, small differences between the quoted exchange rate and the mid-market rate can accumulate across supplier invoices, payroll and property transactions.
Finseta highlights three key questions businesses should ask their payments provider: how the quoted exchange rate compares with the market rate, whether fees are disclosed before a transaction is made, and when funds are expected to arrive.
Greater transparency over exchange rates, fees and payment tracking can help businesses forecast costs more accurately, manage cash flow and ensure suppliers are paid on time.
Finseta Plc (LON:FIN), formerly Cornerstone FS PLC, is a United Kingdom-based foreignexchange and payments company offering multi-currency accounts and payment solutions to businesses and individuals through its global payments network.
